The 'We're saving for a deposit' thread

vl2588

Wow! That is good

J_i_m

I'm home! No more £650 pcm rent! :j

Now just a month or so for my new finances to settle and hello to routine saving.

louby_lou

looks like everyones doing really well - looking forward to Christmas and hitting the 20k mark feels like im finally getting somewhere now.

Simon11

4 days till pay day Can't wait to reculate my savings

I've missed my target slightly, but I'm aiming to put away £250 a week into the house fund Only a few quid off though

kacie

I've had to stop saving for a while, but I've now decided to rent for a while anyway as I think when I do get enough money having rented will help me get a mortgage and I'll have a better idea of have much money I would need to be earning in order to pay for a new place

Starbrite

Finally I feel Like I can join this thread


Firstly I'm a hopeless saver and my money has to be "locked" away otherwise I will spent it on crap and have nothing.

Secondly I need small targets otherwise the whole saving for 50k to buy somewhere will be overwhelming, I will give up think it's impossible and achieve nothing!


So a bit about me I'm single white female..... Couldn't resist that gag!..... I work full time in an ok paying job, I live with my folks still at the ripe old age of 35 (have moved out with ex's, also lived abroad for a bit, but bounced back and got stuck) and have a car that likes to drink! (no i'm not downgrading my car)

So thanks to a few friends who have brought, I feel I should give the saving for a depoist idea a go...

I think I need to save 30k+ so aiming for that, I live in Surrey, the top part and bottom part of London, so easily looking at 140k+ for a shoe box, Not set any figures in stone yet as mentioned before it will scare the hell out of me......So for now I'd like to have min 8k save by NYE

So far I have

£6,100 Premium Bonds
£260 Post Office Account
£108 Reg saver account
£0.00 Isa This did have 1k in it, but I spent it ops.. Going to close this down and open one I can't get at, yet to find one I "like"

I can save 1,532 to get me to 8k by NYE, then next yr relook at how much saving and set some new targets, I've not got a cap on 8k by Xmas if I manage to save 10k then great but just set a realistic target as have a few things to attend and a hol coming up (1st one of the year so it's needed)

Let the saving commence..... and thanks to everyone for being an inspiration to me :beer:

Suarez

Starbrite wrote: »

Finally I feel Like I can join this thread

So far I have

£6,100 Premium Bonds
£260 Post Office Account
£108 Reg saver account
£0.00 Isa This did have 1k in it, but I spent it ops.. Going to close this down and open one I can't get at, yet to find one I "like"

I would take some of the 6,100 premium bonds and fill an ISA.

You can get around £160 a year interest from 5430 in an ISA

Starbrite

Suarez wrote: »

I would take some of the 6,100 premium bonds and fill an ISA.

You can get around £160 a year interest from 5430 in an ISA

I need to close the one I have as far to easy access and only 1% interest and open a new one, In meantime I had to "lock" away 6K before I spent it, so went with Premium Bonds.... I am looking at new ISA's but its a minefield, I hope to get one opened before April move money about to fill it up and then have next yr allowance too, There is a sort of grand master plan in place.

Thank you though

J_i_m

You say you have a car that likes to drink, and that you're not "downgrading" it.

But maybe you could consider changing it for a car that is equally as desirable yet cheaper to run, last year I decided that I wanted to change my car, if I'm honest this was because I was simply bored with the car I had at the time. However I decided that the car I replaced it with must actually be cheaper to run. This meant that I switched from Petrol to Diesel which helped in dropping the tax and insurance bands by 2 groups each, and also provided opportunity for more efficient fuel use. I actually considered it as upgrading my car, went from Ford Fiesta to a Ford Focus, it's slighly surprising that my focus costs less to run than my Fiesta did, but there you go

You shouldn't rule out cutting out stuff that you don't strictly need or at least finding cheaper alternatives, plus budgeting to save for a deposit is also good practice for having to budget when you've got your property anyway, because there will be always something you need money for.

quintwins

well we had our weekend away for our aniversary, i transfered all my savinsg out before i left so we would have it there if we needed it Nnot like my savinsg are that much to start with) now i'm waiting for all the things i put on my card to come out before i put the extra back, i'm not planning any savings as such this month so if i manage some it will be a nice bonus, but i need to buy the rest of the kids uniforms and pay off my next account and that all comes first, next month i will be tightening my belt alot