The 'We're saving for a deposit' thread

lilmissmup

Thanks Vicky, i am 3 miles from my Dad and about the same from OH's family but i like them so its ok.

MrDT

I'm renting, but my rent is pretty cheap I try to save half (well, 45%) of my monthly takehome on the 1st of the month, then from the remainder I pay rent, bills, groceries, and try to have a bit of a life too lol!

My parents live 2 miles down the road, strangely I find myself visiting now and then on a sunday... Nothing to do with the roast dinner I'm sure

Congratulations on your debt free day Now anything that was spent paying down debt can be saved - and you won't even miss it

Woodyrocks

I live on my own with DD and moved out of home at 16 myself so do not have the luxury of having to only pay 'keep'. I think it is good training though, my 'little' bro still lives at home at 22 and has no intention of moving out anytime soon but although he and his g/f are saving for a deposit as well, I think they will get a hell of a shock once in their own home. At least we have had years of getting used to all the cost of running a home, even if it is a rented one.

Has anyone been watching the property programme on Ch.4 on Mondays. It is really quite interesting and the presenter is on our side

merlinbailey

I'll play!

We are aiming to save £40'000 by end of April, £1000 per week. This is just about doable...

Have a halfax savings at the moment.

At the moment we have an offer on a house, but struggling with the mortgage...company raised rate by 1.6% on Friday!

We are still trying to decide wether to save more deposit or jump in...

It's a great idea to support each other saving.

redrabbit29

Bit disappointed today. Got my payslip which I was eager to get as I worked lots of overtime last month, about 2 days at double time which were extra shifts, and one shift was Bank holiday so I got that at double time too. I also worked a few other similar shifts.

My take home pay is normally £1400, but this month it is £2048 (net was £3100 but I got taxed big time and some other deductions). That's for doing a little over 40 hours extra shifts. I think I reached the higher tax band!! Bit of a shame as I was hoping for more.

lostinrates

merlinbailey wrote: »

I'll play!

We are aiming to save £40'000 by end of April, £1000 per week. This is just about doable...

Have a halfax savings at the moment.

At the moment we have an offer on a house, but struggling with the mortgage...company raised rate by 1.6% on Friday!

We are still trying to decide wether to save more deposit or jump in...

It's a great idea to support each other saving.

That is serious earning and saving, well done you!

re renting etc...DH lodges in London weekdays and I live with my parents since we returned from overseas so mixture of renting and otherwise. We also pay a contributon at home and have stuff from our previou homes in storage. My guess is between ou torage and DH's lodging we pay what some people pay in rent Initially we thought we'd buy (hence not renting) then my mother suggested I stay till after DH's next long foreign stint next year. TBH I feel a bit trapped by the arrangement at times. I'm job hunting but aware that any job I get i'll have to leave when we move (will not be buying in this area I think) and I feel very transiant, although its become quite sometime now. I would rather rent now. But if we are to save we can't really afford to rent.

leyla-aurelia

We're renting, we sold a rew years ago to enable us to relocate nearer family, and me to study full-time, the plan was to buy within a year but hitches in our house sale and other things made that impossible, plus we found a relatively cheap long-term rental through a friend.

Our rent is about half the amount we'd pay on an interest-only mortgage in this area, and of course we're now incredibly glad we didn't buy! It isn't always easy living in this tiny house (2 adults 2 teens), but it's maneagable overall, and worth it not to be in neg equity!

I'm also jobhunting and should be able to save a large amount of my salary, once I find something, yay!

lilmissmup

MrDT wrote: »

Congratulations on your debt free day Now anything that was spent paying down debt can be saved - and you won't even miss it

Thats the plan plus to save more and get OH on board as it was just my debts not his!

Today is the day my money starts working for me

sarah_elton

I'm saving as I want to sell my flat next year and it will be in negative equity. Can I still come and play in this thread? If I start one called "The 'We're saving to get out of negative equity'" thread I'll get all sorts of abuse from the HPC lot. :rolleyes:

Need to save about £10k to cover NE plus the costs of selling. Any extra I manage to save will go towards the next house (OH has a good deposit already but would feel better if I could stick a few quid in!)

Got *ahem* just over £500 in savings at the mo (don't ask lol). Aiming for £2,500 at year-end and to hit the £10k mark by end of June 09. I've got no debts (negative equity mortgage aside lol), but I'm rubbish at saving as I'm far too good at shopping.:D

truman_sparks

sarah_elton wrote: »

I'm saving as I want to sell my flat next year and it will be in negative equity. Can I still come and play in this thread? If I start one called "The 'We're saving to get out of negative equity'" thread I'll get all sorts of abuse from the HPC lot. :rolleyes:

Need to save about £10k to cover NE plus the costs of selling. Any extra I manage to save will go towards the next house (OH has a good deposit already but would feel better if I could stick a few quid in!)

Got *ahem* just over £500 in savings at the mo (don't ask lol). Aiming for £2,500 at year-end and to hit the £10k mark by end of June 09. I've got no debts (negative equity mortgage aside lol), but I'm rubbish at saving as I'm far too good at shopping.:D

Have you considered selling now?

Just wonder how much neg equity you will be in in 12 months time? I doubt you can save quickly enough to keep up with the decline in property prices (under estimate!!!).

So get out now and rent imho.?.?

TS