The 'We're saving for a deposit' thread

JimLad

redbull5 wrote: »

Just got my car insurance renewal quote, as im just turning 18 its at £1250. GRRRR no savings for me in the next few months lol

Thats is masssssive! Mine was 1050 when i was 17 so its gone up since 7 years ago!

lazer

Its a good day for me,

£73 refund on my cancelled TV licence

And monthly interest of £15 on my Halifax ISA

so £88 added to savings!

Also got approved for Santander credit card with 16months interest free and no balance transfer fee - so all debt now moved to this card.
What would you do - pay the card off at around £100 a month - or minimum payments and save the rest until the end of the interest free period?

JimLad

lazer wrote: »

Its a good day for me,

£73 refund on my cancelled TV licence

And monthly interest of £15 on my Halifax ISA

so £88 added to savings!

Also got approved for Santander credit card with 16months interest free and no balance transfer fee - so all debt now moved to this card.
What would you do - pay the card off at around £100 a month - or minimum payments and save the rest until the end of the interest free period?

Depends how disciplined you are. Personally i would pay minimum payments and put the money to pay it off into a savings account.

If you cant guarantee you wont spend it then pay it off month by month

SilverSix

Trying to save up an additional £5k by my completion date of October 2011. So far I've £1,200 saved in the last month, including popping £100 away towards consumables for the car of which another £170 is outstanding.

Being weekly paid and living at home helps somewhat! having friends all away at the moment is somewhat boring but good for the bank balance

Fredula

Wahoo I'm so glad I found this thread I just read it all (took me about 3 hours :P ) so I'm definitely joining.

My boyfriend knows I'm saving for a house and I was chatting to him about it the other day and he said he doesn't understand why I'm doing it because house prices are so high that it will take ages to save up enough... We've only been together for 4 months so it's a bit soon to turn round and say to him "But with two people saving it would take half the time!"

vl2588

Hehe yes that's true but you can't go wrong saving

Have updated my sig with a target as have decided it's a little extra motivation :T

ferox666

JimLad wrote: »

Sorry to be nosey, but I noticed your target is 12k for a deposit on a house?

The lowest i have seen is mortgages with a 10% deposit and they are at ridiculous rates. That puts you at 120k for a house, and unless you live in an uber cheap area i think your asking a lot.

Maybe im wrong?

This is the second time I've seen you do this to someone in this thread, yes you ARE wrong as explained by another poster last time - there's a north/south divide. £90 - £100k will get you a decent sized house in many areas.

Look at these results for Newcastle, for example, which isn't the cheapest area by far http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E984&sortByPriceDescending=false&minPrice=70000&maxPrice=120000&minBedrooms=2&displayPropertyType=houses&oldDisplayPropertyType=houses&radius=10.0

Wages are higher in the south but so are house prices. Next time perhaps do some research before posting

rictus123

Well took a little risk today and invested £500 of my deposit money...ended up with £911.46! So £411.46 up! Brilliant...even if i say so myself! So im now upto £1,257.54! So well on track for my £2k by end of May goal!

62.8% of Target for end of May and 6.28% of target for June 2013!

Might have a quick review of goals...think i could be good for £8k(at least) by the end of the year...that includes another 6 payments of car, then getting rid and buying and insuring a van!

Doing well even if i say so myself!

HouseHunter2010

ferox666 wrote: »

This is the second time I've seen you do this to someone in this thread, yes you ARE wrong as explained by another poster last time - there's a north/south divide. £90 - £100k will get you a decent sized house in many areas.

Look at these results for Newcastle, for example, which isn't the cheapest area by far http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E984&sortByPriceDescending=false&minPrice=70000&maxPrice=120000&minBedrooms=2&displayPropertyType=houses&oldDisplayPropertyType=houses&radius=10.0

Wages are higher in the south but so are house prices. Next time perhaps do some research before posting

I think they call it price envy! :rotfl:

JimLad

ferox666 wrote: »

This is the second time I've seen you do this to someone in this thread, yes you ARE wrong as explained by another poster last time - there's a north/south divide. £90 - £100k will get you a decent sized house in many areas.

Look at these results for Newcastle, for example, which isn't the cheapest area by far http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E984&sortByPriceDescending=false&minPrice=70000&maxPrice=120000&minBedrooms=2&displayPropertyType=houses&oldDisplayPropertyType=houses&radius=10.0

Wages are higher in the south but so are house prices. Next time perhaps do some research before posting

Im sorry, i think i have a memory like a sieve.

Is there any middle ground where you can get paid south wages and buy a north priced house?

HouseHunter2010 wrote: »

I think they call it price envy! :rotfl:

You are totally right there. Im moving to scotland!