The 'We're saving for a deposit' thread

beckythemadcow

Hubby was 23 today, and I am 24 this year.

We don't have plans for kids any time soon (well, ever but we might change our minds). Owning a house is a far greater priority for us!

Only started saving since finishing uni, but I think being married sped up the desire for a house.

Marcus84_2

Quintwins - i can imagine it is difficult to save when your kids are that age! Good luck to you both, although it is difficuly it certainly will be worth it in the end!!

nakiwala123 - i am the same age as you and also living at home still! most of my friends have their own place now but have huge mortgages. I would just love as smaller mortgage as possible and then enjoy life rather than worry about finances. £800+ per month is a very good amount. Good luck with your target!

superted187 - i am 27. What is your target

beckythemadcow- good luck with it!

superted187

Marcus84 wrote: »

nakiwala123 - i am the same age as you and also living at home still! most of my friends have their own place now but have huge mortgages. I would just love as smaller mortgage as possible and then enjoy life rather than worry about finances. £800+ per month is a very good amount. Good luck with your target!

superted187 - i am 27. What is your target

I'm the same as you mate... I don't want a staggering mortgage for 25 years. I want something small where I won't feel trapped by work.

My initial target is £20k, but I'll probably have to power on till £30k.

How have you managed to save so much?

J_i_m

Marcus84 wrote: »

How old is everyone on here? sorry if that is too personal but it is nice to see people in a similar position

I'm 28... (I think... working irregular shifts fries my brain).

I initially move out from home at 26 into rented accommodation, and in August I'm moving back home. It wrenches my gut to have to do it, but with my income taking a bit hit... (thanks very much banks, government and NHS etc) I really have little choice in the matter if I wish to save for a deposit.

I'm single, no kids, with no intentions of ever having them, because I don't particularly like them, even if I do get on with my Sisters's little hooligans. I know situations can change... e.g what if I met the love of my life and she absolutely insisted on having kids... what would I do... I'll cross that bridge if I ever come to it.

But! Even as a singleton...it's proving damned hard to support just myself financially.

loveGSDs

Payday update for me......

£450 from personal money - however leaves me with £500 for fuel, insurance etc so hopefully have some left at end of month to transfer

£150 from joint - again this is less than we could afford, but like to leave a bit incase an emergency spend crops up

its such a long hard slog, but thesun is out and feeling a little more positive!!

oh, and im 22 :-> (OH is 25)

J_i_m

Good work there!

Rahven

Marcus84 wrote: »

How old is everyone on here? sorry if that is too personal but it is nice to see people in a similar position

I'm 30 (you lot make me feel old ) and OH is 24 (yepyep bring on the toyboy jokes!). We're marrying next year and already have the money saved up for that in an ISA. OH's parents are giving us the money for our honeymoon as a wedding present. I am eternally grateful for that as it means what we're saving now is all towards a house.

No idea if we'll ever have kids. Definitely not on the cards anytime soon, don't know if it ever will be really. We'll see.

Aim is to actually be able to get on the housing ladder! I've not been able to so far since I was rubbish with money until a couple of years ago and was putting my extra cash into paying off my debts of £4k. It annoys me looking back cause if I hadn't been so stupid we'd be well on our way by now, but hindsight is a b*tch

Thinking we'll assess our situation at each £5k from 10k onwards to see what's happening with the market and our situation.

I love this thread, find it really encouraging and inspiring to read about other's progress. It's also great to see others in similar situations as pretty much all my mates own houses now (though theirs are mostly through inheriting large sums of cash, or from their parents buying them houses).

nakiwala123

Rahven wrote: »

I've not been able to so far since I was rubbish with money until a couple of years ago and was putting my extra cash into paying off my debts of £4k. It annoys me looking back cause if I hadn't been so stupid we'd be well on our way by now, but hindsight is a b*tch

Rahven, I felt the same way! I was never in debt but I spent every penny I earned. There is a lot of us in this boat. I know I could have saved more and spent less. The whole process has been a lesson well learnt!

We can only look forward and start to enjoy the process of saving rather than the process of spending. The whole point of this thread is to commend each other, gain and give support to all those in the same boat.

J_i_m

Rahven wrote: »

Aim is to actually be able to get on the housing ladder! I've not been able to so far since I was rubbish with money until a couple of years ago and was putting my extra cash into paying off my debts of £4k. It annoys me looking back cause if I hadn't been so stupid we'd be well on our way by now, but hindsight is a b*tch

And isn't that just the truth?... when I worked out how much I could be saving if I lived at my parents again, compared to my current outgoings I began wondering what just the heck I was up-to before I moved out! Sometimes lessons are only learnt from actual first hand experience though

Rahven wrote: »

I love this thread, find it really encouraging and inspiring to read about other's progress. It's also great to see others in similar situations as pretty much all my mates own houses now (though theirs are mostly through inheriting large sums of cash - 75k plus, or from their parents buying them houses).

Yeah... it's a bit useless looking at friends or people your own age who have more than you. Everyone's situation is different at the end of the day, people have different capabilities, responsibilities, income etc. And like you say many people get a leg up from their parents.

I know that my mother would love to be able to help me out with buying a house... but to be honest I'm almost glad that she can't. I take a certain amount of pride in being able to support myself, and earn something myself. I value my independence in that way and I don't think I'd feel that worthy if I was sitting in my "own" house simply because somebody else paid for it.

Jackies

Marcus84 wrote: »

How old is everyone on here? sorry if that is too personal but it is nice to see people in a similar position

I'm 28 and DH is 30....we've been saving for the 10 years we've nearly been together - so its taken a while!!