The 'We're saving for a deposit' thread

[Deleted User]

there's a thread called "up my income" this might give you the ideas you're looking for

beckythemadcow

cassie46 wrote: »

So me and my partner are on low income compared to some only on 28k a yr for both of us so wondering if anyone can tell me how to generate more money through other means?

Mine and hubbys income amounts to £25k after tax, but we have saved £22k in a year.

• Take on extra jobs (we both worked for the Census and this earnt us £6k in 5 months) We also both do little extra things when we can)
• Create a spending diary to see what you spend on - Our food bills have halved (£40 for two per week including toiletries)
• Have cheap nights in instead of going out
• Remeber that every pound you save for a deposit, will save you a pound in interest later.

As Bodmil says, have a plan for the future, we aren't earning so much now because hubby is a Phd student and I am about to go back to uni!

cassie46

I have a degree but it hasnt got me anywere as of yet, on the look out for a new job but the way things are there isnt many out there. Did think of going back to uni but cant afford to cut working hrs down

Jackies

cassie46 wrote: »

I have a degree but it hasnt got me anywere as of yet, on the look out for a new job but the way things are there isnt many out there. Did think of going back to uni but cant afford to cut working hrs down

Hi Cassie - Whats your degree in?

cassie46

Jackies wrote: »

Hi Cassie - Whats your degree in?

Psychology Jackie, my biggest regret in life is doing my degree at minute it has got me no were just a lump of uni debts to show for it

Nichelette

cassie46 wrote: »

Psychology Jackie, my biggest regret in life is doing my degree at minute it has got me no were just a lump of uni debts to show for it

I know how you feel, but you have to have faith... I graduated just as the economy went down the pan so finding a job wasn't fun. I kick myself because I'm really underperforming in relation to my potential, especially when I see friends who have started with less and made much more of their lives (mostly those who didn't go to uni), but it takes time to work your way up which they had when I was at uni.

Financially I wish I'd left college and got a job - I'd probably have my own house by now if I'd done that rather than scraping to save what I can for a deposit, but you never know what's going to happen in the future. Maybe I'd be saying I wish I'd gone if I hadn't? Knowing me I probably would!

KnightSmile

Nichelette wrote: »

I know how you feel, but you have to have faith... I graduated just as the economy went down the pan so finding a job wasn't fun. I kick myself because I'm really underperforming in relation to my potential, especially when I see friends who have started with less and made much more of their lives (mostly those who didn't go to uni), but it takes time to work your way up which they had when I was at uni.

Financially I wish I'd left college and got a job - I'd probably have my own house by now if I'd done that rather than scraping to save what I can for a deposit, but you never know what's going to happen in the future. Maybe I'd be saying I wish I'd gone if I hadn't? Knowing me I probably would!

If it makes you feel any better, I regret not going to university, I'm in an OK job but feel I wont reach anywhere near my potential because I spent time doing low-paid grunt work rather than demonstrating and enhancing my intellectual abilities in a university. Long-term you will be in a great position, even if you can't see it at this moment xx

cassie46

Hopefully doesnt help that I live in a low income area as well but then on other hand house prices cheaper

lvm

I've just read through the last 2 pages of this thread and can't believe how much money people have managed to save!! Like £50-60k!! That is amazing...hope I can get to this point some day.

I started my financial "therapy" at the start of this year, having previously been ignoring debt collection letters for around 2 1/2 years.

So...although the rule is "debt before savings" my debt stopped accruing interest a loooooong time ago so I'm paying as little to that as I an possibly get away with and am saving for either a B2L property or for a new home for me so I can rent out my current property.

I mustn't be as ambitious as many people on here and I would be happy with £25k and if things go to plan, I should have this by the end of next year. Only my current credit status would affect this but I'm sure I'll find a way around that!

I'll be keeping my eye on this thread and updating my plans as they develop!

bodmil

I have 2 friends who did degrees in Travel and Tourism, one is now about to qualify as an accountant having started with a company as a secretary and the other now working in HR at an investment bank. Your degree is very much what you make of it!