The 'We're saving for a deposit' thread

Starbrite

I'm feeling a bit glum today

Just worked out to get 20k as a deposit (which I'm not even sure will be enough) I need to save the remaing 13,500 which works out at £600 a mth for 1 year 11 mths......

Now that is depressing...... Is there not a quick fix way? who's got a crystal ball for tonights Euromillions?

I can do this, I just keep thinking how proud I will be when I get the keys and walk through the door of my own place.....

Simon11

Starbrite, don't be too glum, you have an easier job than myself and others if you only need £20k to get on the ladder in your area!

Update from me: Payday
Got £41.8k and achieved my target of £1k saved since last pay packet(Every 4 weeks ). Still not bad for a 22yr old but still need to put away a few more bob.

Had a period last week when I wanted to move out, but after close discussion with parents (And finding my grandparents will gift £20k for a house ), I think I'll leave it for a good while. Get a nicer property, improve my salary and save more money which therefore benefits me in the long term financially! Just gota put up with the rents

Least a bonus of living at home is that parents cook most dinners

And another for luck

dawyldthing

Starbrite wrote: »

I'm feeling a bit glum today

Just worked out to get 20k as a deposit (which I'm not even sure will be enough) I need to save the remaing 13,500 which works out at £600 a mth for 1 year 11 mths......

Now that is depressing...... Is there not a quick fix way? who's got a crystal ball for tonights Euromillions?

I can do this, I just keep thinking how proud I will be when I get the keys and walk through the door of my own place.....

i've worked it out it will take 6 years at 600 quid to get to my target, painful thought sometimes!

vl2588

Gotta keep slogging, chin up chaps, you never know what's around the corner :T

Starbrite

Thanks Guys N Girls...

I've only guessed 20k, It's prob more like 30 or 40K! most things around here are in the 150+ mark but properties do appear in the 120+ mark and if I was to live in the town where I grew up were are looking at 200+

Onwards and upwards right...

J_i_m

At this stage I'd be quite satisfied to be able to save £600 a month. At this moment in time, thanks to the general cost of living which will insist on steep increases inspite of my income taking big hits I'm only banking on being able to save £400-500. At the moment I'm fully expecting my saving plan to be a 4 to 5 year task.

Though thankfully with a couple of debts nearer to being settled, I should be able to look at saving From £600 to £700 each month.

For this month, I don't know yet, but I'm expecting to put away between £500 to £600 which should take me to about £2.5k long way to go yet, but i'll get there.

BrettMorganxD

Hello my name is Brett, can I please join your thread?

I am 19 years old living with my dad, pretty much rent free but regularly do the food shopping .

I am saving for a deposit. I currently work for a care agency, and could possibly have a second job coming next week as another nursing home as asked me to interveiw.

What I am planning to do pretty much is just not even look at my bank balance for a while (2 month I would say) and just let the money from both jobs keep piling in. What I don't see I don't know about, right?.

Obviously I might dip into the odd £20 a week during those two months, as I said. I do the food shop

Simon11

Its always good to have sensible young people putting away money away for a house later in life. I'm 22 and been savings hard for last few years.

However most important thing is to have fun, your only young once, take thoughs opportunities!

Yesterday I did White water rafting at Lee Valley the 2012 olympic site and while it cost £49 it was amazing!

BrettMorganxD

Simon11 wrote: »

Its always good to have sensible young people putting away money away for a house later in life. I'm 22 and been savings hard for last few years.

However most important thing is to have fun, your only young once, take thoughs opportunities!

Yesterday I did White water rafting at Lee Valley the 2012 olympic site and while it cost £49 it was amazing!

Should of been a bit clearer but it was late and I was tired.

I only do the not spend a penny, for a set period of time. I will look at my bank balance on DECEMBER 1st. Then I will save 70% of whatever is the balance. Through this time I will deduct £20 a week for the food shop. The other 30% is to spend on what I want to.

So if I have a thousand pound in my balance, £700 gets saved. £300 is for me and just me :P. Or if I feel like treating me dad to a nice carvery.

You can say I am sensible with money now but I did make a bit of a !!!!-up... I moved out not even a week after my 18th and lived alone a year, just came back in july. That was £7,000 in rent and bills I could of saved. -.-

redbull5

Well long waited update from me - not much to say though

Im attempting to save £800 a month until the new year. Thats only 4 months to save. I currently have £1425 in a regular saver and £4540 in a home savers account.

£4540 + £300 a month x 4 = £5740
£1425 + £500 a month x 4 =£3425

Total Savings hopefully by January = £9165

I have a few hundred quid aside seperate for xmas and my new phone and dads bday.
Hopefully it all goes to plan. That was my target for this year. And i have a future one for before im 21 which is to reach £21K. But i will need to buy a new car before then.

Good luck guys, keep going. If i can do it anyone can.
Redbull5