The 'We're saving for a deposit' thread

BrettMorganxD

nat21luv wrote: »

butterfly, where are you loking to buy? Thats an impressive amount you've stashed away-well done!

Yep it sure is. Going back to butterflys post, how much would you say I saved as an emergency fund minimum?.

My salary atm is £12,000 per annum, but will be more when I come to buy. Would £12,000 in savings (12 months living expenses) be adequate emergency fund?

linz

BrettMorganxD wrote: »

Would £12,000 in savings (12 months living expenses) be adequate emergency fund?

People say 3-6 months wages/living expenses is a good enough emergency fund. Depends how much of a cushion you want really, if you needed to use it.

rictus123

If you are on £12k are you going to spend every penny of that once you have moved out? Could you not add to the fund after.

BrettMorganxD

rictus123 wrote: »

If you are on £12k are you going to spend every penny of that once you have moved out? Could you not add to the fund after.

Are you saying I wont beable to afford to live on 12k or are you telling me to not save an emergency fund until I have my own house?

butterfly72

nat21luv wrote: »

butterfly, where are you loking to buy? Thats an impressive amount you've stashed away-well done!

We,ve worked really hard to save this amount through promotions, not having the latest gadgets and following the tips on here. We live in sw London but don't think that we will buy here. We,re not sure where we want to live for the long term but will keep adding to the fund and keep renting until we buy. I like up north but oh is not so keen. We both like Herefordshire so that's a possibility.

butterfly72

BrettMorganxD wrote: »

how much would you say I saved as an emergency fund minimum?.

I,d say you need 3 - 6 months salary at all times. So that also means you need an easy access account for holidays, treats and other spending.

BrettMorganxD

butterfly72 wrote: »

I,d say you need 3 - 6 months salary at all times. So that also means you need an easy access account for holidays, treats and other spending.

Well ill be safe and save 12 months.

Out of curiosity at what time does this thread get most livley/ most replies?

quintwins

BrettMorganxD wrote: »

Well ill be safe and save 12 months.

Out of curiosity at what time does this thread get most livley/ most replies?

usually the last week of the month til a few days in when everyones paid, i get paid weekly but i don't update til after the 8th when everythings paid


i have no updates this month far too much going on and far too much spending but i havent touched whats already in my savings so thats a plus

Tiggy10

nat21luv wrote: »

Depends if your renting privately or agent. Privately its generally one month rent and deposit in advance and with agents its two months deposit and one month rent in advance. As a private landlord I only ask one month rent and deposit.

Thanks! Thats all I paid for my current accomodation but I was told it was on a student discount. 1 months rent + 350 deposit.

I spoke to someone I know moving to the same area and sameish size housing and she said she paid 2 months rent plus 500 deposit totaling 2100.

tara747

Hi all, sorry I've been awol a bit lately, been sooo busy. I'm now up to £51,187 - managed to save a whopping £1,252 in September by being super frugal!!!

Just three more paydays to go till the end of the year, will I make it to £55,000? Hope so!!!!!!!!!!!

Just off to update my sig and catch up on the thread now xo