The 'We're saving for a deposit' thread

bodmil

Well talking of weekends away, I went camping for the first time! £5 for the weekend and supermarket bought drinks and food. It was brilliant! I've never felt able to justify a summer holiday when I do ski quite a bit in the winter but now I'm really pleased I have found something I enjoyed so much that hardly even dents to bank! Now I wonder why I insisted on working so much over time when fun really is almost free!

hayleymoo

I'm really inspired by some of the posts on this thread - WOW! It's amazing what some of you have saved!

My husband and I have agreed that we'll begin saving hopefully in September. I'm due to finish my Ph.D. at the end of September and will *hopefully* manage to secure a well paid job this summer. This is what's been holding us back a bit from saving, but hopefully the hard work will all be worth it when all in said and done! We've had a very good time in the meantime with lots of holidays, and we had our dream wedding in our favourite place last year We also want to take the summer to pay off our CC, and my overdraft so we can start saving in earnest.

We are hoping to save around £15K (10% dep), and then fees and expenses on top of that (how much we'll need for that, I have no idea!) - the plan is to save £500 a month until September 2012, then re-evaluate and try to save hard from thereon, if we feel we can meet our £15K goal by January 2012 or soon thereafter. It feels like we've constantly been saving for the past 5 years - holidays, paying off DH loans, and the wedding - so the reason the amount per month is low is, so we can still have a bit of money to ourselves! And hopefully have £6K by September next year! We might move out of where we're living now next year, we're currently paying £725 in rent which is a LOT in this area.

We are completely new to ISAs, interest rates, mortgages, etc. so it is all a bit overwhelming!

Current Deposit Savings : £0 / £15,000 Hope I'll have something to add soon!

markalanious

Hi Hayleymoo,

We're hoping to save around the same amount and are pretty new to the saving malarky too. There's loads of good advice on this website though and on the forums too.

We've both opened Santander cash ISAs which seem to be the top interest earners, and on top of that we will probably open a savings account for anything over the ISA interest free limits.

superted187

Hi Team,

Payday update. Shifted the not so round and regular sum of £1006.27 into my ISA today, bringing my ISA total / Deposit to £12510.10 (I've had an ISA for a few years now).

Had £470 left over from the previous pay cheque, but got hit with a £530 horror of a credit card bill. All was largely fuel and food.

Rahven

Welcome Mark and Hayley, hope you find this thread as motivational and helpful as I do

Bodmil, you're so right. It really doesn't take much money to have a lot of fun sometimes. Your break sounds ace and is making me want to go camping now, hehe

quintwins

hi all wow theres been lots of posts today took me awhile to catch up, i'm still quiet new to this but it's great on here because were all in the same boat

personally i feel you need a holiday at times (i'm still looking for one for august seen a few good offers including where we went on honeymoon so that could be romantic ) but cheap things can be great fun aswell, lovely long walks with the kids and dog or trips to the beach (not so cheap with the price of desil and how far away from the beach we) and days to the park will be what our kids remeber, and what i remeber most more than the one forgeign holiday we went on

Wine_of_the_World

An update from me - I now have £14,577.48 in savings! At last it feels like I am getting somewhere. BF has £10,500 in his and will be getting a good bonus this month to top his up. We are aiming to save at least £1,000 per month each.

However I have just been accepted onto a course at uni to become at Occupational Therapist, which throws a bit of a spanner into the works! Although I'm excited about the course I am very worried as to how we would afford to buy a somewhere whilst I'm studying. I know we couldnt handle living at home for two more years. I still have to work out exactly what funding I'm entitled to. I know there's a small bursary and I hope I'd be able to work one day a week at least at the start of the course when hopefully the work load will be lighter. I'm not sure if I could get a student loan as well.

BeardedWonder

Just looking at the size of some of these deposits and... wow :eek: are you all planning to buy dream homes or live in central London?!!!

rumdiddlyum

my deposit is 6000 hopefull add another 6000 on top then will be ok

tara747

Hello everyone! June payday update:

I only managed to save £612 (due to treating myself to some holiday flights) but have been eBaying again in the last week or so and am feeling positive about the rest of the year!!! I am now up to £49,430 (sooo close to £50k!), will update my sig now.

Onwards and upwards!!!