The 'We're saving for a deposit' thread

Stevo10

Hi There

Thought I'd get in on the act and join in. Currently saving up a deposit to upgrade and move house, will be selling my current flat and have lost approx 10k on it, so got to save to get that back and also get the required deposit for the new place since. When I bought first time round 95%LTV was a breeze in obtaining not really a go go now so overall need to save approx £30k.

Currently at £13,500 and have another £1,800 to put away this month so finally getting somewhere

Rahven

More new savers, hooray! Welcome all - really good to read about people in similar situations

Payday update - managed (somehow) to save £130 extra this month, though it was incredibly tight. So that's £350 gone in for October. That makes the total:
£3135 / £3500 (89.5%) Looks like I might hit my Xmas target, yay!

I start semi-regular overtime tomorrow, which should increase my earnings by about £160 a month at least. We have Xmas coming up obviously but I'm hoping to start ebaying again on the next free weekend so hopefully that will help towards the cost!
Does anyone else have any plans on how to meet the cost of Christmas?

vl2588

Keep the cost low by making hampers full of little, fun but cheap things - is even more exciting than a bit present but far cheaper! There are loads of ideas on this site for this. Also do things like making jam and chutney etc.

**dancingbutterfly**

Hi guys!


Can i join in?!


Bit of background, me and oh and been renting for 8 years now, (im 26 he's 33) I desperately want somewhere to call our own, put our own stamp on and more importantly live rent free when we're in our 50's/60's and for something to give to our son when we go

Hubby earns £22k per year im self employed and earn £12k per year. So obviously we wont be able to borrow massive amounts, thats why the more deposit we have the better.

We're looking to buy a house around the £100-140k mark.

I can save a minimum of £400 per month out of my wages only. So i hope i can save £15k in 3 years max. Then possibly keep saving if we need more or cant find a house we like.


I'll have a read back through the thread for tips


oops! sorry for the waffle

katie

tara747

RonniesMummy wrote: »

Can i join please?
Desperate to start saving for a deposit - but such a scary task i think it needs to be done in stages.
Me and the OH have tea in the oven and were planning to sit down and work through the finances... to see where we can save..
anyone have any tips to keep us focused ?
x

tara747 wrote: »

Wow, well done all, keep it up!!!!!!!!!!

I underestimated my savings t'other day, forgot that I had £260 in cash in the house (long story). So my actual total for October is £1,256 and my new savings total is £52,443.

Off to update my sig (again!).

Oh Lordy, my friend just repaid £65 that she borrowed from me months ago, so my *new* new October total is £1,321! And my *new* new overall total is £52,508 That's all, I think! :rotfl: Off to update my sig yet again!!!

Oooh, the £55k target is now only £2,402 away... :eek:

**dancingbutterfly**

Tara,

Can i ask (sorry nosy ) how long you've been saving that massive amount?

please lord dont say you started at the beginning of the year lol!

tara747

**dancingbutterfly** wrote: »

Tara,

Can i ask (sorry nosy ) how long you've been saving that massive amount?

please lord dont say you started at the beginning of the year lol!

Oh, about 6-7 years lol!!!! It starts slowly and then builds up as interest accrues and you get pay rises etc. I started with £0 and worked up! Joining MSE almost 5 years ago helped a lot.

quintwins

i got a massive 18p interest on my savings this morning shouldn't knock it really thats a tin of value soup and every little helps :rotfl:in all seriousness i need to contact my bank i think my savinsg account interets is about 1% where as it was 3% when we first got the account but went down slowly due to lack of use

Rahven

The top interest ISA is 3.07% at the moment - definitely check out moving the cash, you might as well make as much as you can. As you say, every little helps

quintwins

Rahven wrote: »

The top interest ISA is 3.07% at the moment - definitely check out moving the cash, you might as well make as much as you can. As you say, every little helps

yeah we're planning to open an isa before the new tax year anyway, but we sometimes need to take money out of our savings so my understanding is if we take it out we can't put it back in, say we put is £5340 then take out £100 before the new tax year we can't put it back in or we'd have put in £5440 so over the limit, i think anyway but thats what puts us off abit