The 'We're saving for a deposit' thread

Riq

snowbrow wrote: »

Wow gd luck and yeah My work do have free coffee and tea but I liked the proper stuff better but not anymore I'm Ms Thrifty!!
Also wanted to add I'm doing it alone also no DH/OH and know how you feel

That's the spirit, speaking of which, I think I deserve another cup of tea, I've done at least 20mins of work now!!
I think tonight I will do some adding up and work out exactly how much I have so I can make some targets.
Got a couple of exams coming up so not much going out so that will help the funds.

MrDT

Riq wrote: »

Going to start up with some serious matched betting this weekend, got some new offers to do so should rake in maybe £150 if I put in the time to find matches, more conservative estimate would be £120.

Hi Riq, how much time will you spend on the matched betting this weekend? Sounds like a good amount to add to your savings!

I've started reading the matched betting guide a few times then not bothered as I can't sign up for coral (already signed up before for quidco or sometthing I think). I could realistically spare maybe an hour or two on sunday mornings to get to grips with matched betting, is this too little time for it to be worthwhile do you think?

lostinrates wrote:

Everything is so very unstable that trying to fix on a price range etc is a bit like guessing the temperature of water by dipping your toe in...imprecise!

So true! I'm hoping to save up a 25% deposit (or more), but it's not so easy to put an actual figure on that target anymore. I used to think that I needed to save 20-25k minimum, now I'm not so sure... not that I consider this uncertainty a bad thing So long as the figure is heading downwards it's all good!

I figure I will probably keep the 20k target, 20k could end up being a 30-35% deposit - I'd be well on the way to being a MFW from the very start! :cool: The time it'll take for me to reach 20k fits in nicely with when I think might be a good time to dive in too - of course I'm in the habit of revising my 'good time to jump in' estimate quite regularly :rotfl:

reformed_84 wrote:

£2499 in savings so far and saving for towards a deposit to buy our first house...

...aiming for a 10% deposit ...

...aiming to save £1400 per month...

...looking at houses in the region of £120...

I'll be honest, I'm feeling a wee bit deflated at the prospect of it all as it just seems so far away!

Seems so far away?? :rotfl:

You want to save 10% of 120k, so that's 12k. You have 2.5k already, so you need to save 9.5k. You're saving 1400 a month... That's less than seven months away, it's not that far away

A bigger consideration is whether 10% deposit will be enough to get a mortgage next summer. An even more important question is whether or not it'll be affordable. I'd go with lostinrates suggestion, in 6 months time look at the current situation and see what's best to do next, save more or jump in You're off to a great start already:T

ZoeGirl_3

Have been doing great with the saving lately, and having a MASSIVE spring clean of my house and selling lots and lots. Feels really good to have a tidy house and to be getting rid of the clutter for MONEY lol. :beer:

Also, I have such a tight budget, this had made me loosen up a little, which feels really good too. :rotfl:

Riq

MrDT wrote: »

Hi Riq, how much time will you spend on the matched betting this weekend? Sounds like a good amount to add to your savings!

I've started reading the matched betting guide a few times then not bothered as I can't sign up for coral (already signed up before for quidco or sometthing I think). I could realistically spare maybe an hour or two on sunday mornings to get to grips with matched betting, is this too little time for it to be worthwhile do you think?

I think it is worthwile for sure, a couple of hours is good.
I myself will spend most of Saturday morning Match Betting but that is only because I have nothing better to do!
Usually would do Sunday too and aim for £250 but I am going to house warming party this weekend so Sunday will be written off as a no show I suspect!!

It's definitely worth a couple of hours of your time. Good luck, not that you need it of course as luck has nothing to do with it :cheesy:

wilksy007

Me and the GF have about £18k in savings now.

I have finally changed cars from a thirsty hot hatch, to a deisel Fiesta. Its saving me a packet, my motoring costs have halfed. I'm aiming to get £25k by this time next year.

Riq

wilksy007 wrote: »

Me and the GF have about £18k in savings now.

I have finally changed cars from a thirsty hot hatch, to a deisel Fiesta. Its saving me a packet, my motoring costs have halfed. I'm aiming to get £25k by this time next year.

I feel your pain I got rid of my Civic Type-R and replaced it with a 1.4 as the commute to work was killing wallet. Got almost half my insurance premium back too as a refund since my insurance group dropped from 17 down to 5ish!

before_hollywood

Riq wrote: »

I think it is worthwile for sure, a couple of hours is good.
I myself will spend most of Saturday morning Match Betting but that is only because I have nothing better to do!
Usually would do Sunday too and aim for £250 but I am going to house warming party this weekend so Sunday will be written off as a no show I suspect!!

It's definitely worth a couple of hours of your time. Good luck, not that you need it of course as luck has nothing to do with it :cheesy:

£250 for a weekends work?

pm the info please sir :beer:

redrabbit29

I've made around £150 in about 9 days worth of betting. I could make more but work gets in the way a bit.

You do need some spare money, as I've deposited about £625 into it. But my balance now is over £775 with the money I've made added on.

I have a seperate account which I use for just betting now.

Riq

before_hollywood wrote: »

£250 for a weekends work?

pm the info please sir :beer:

It's just matched betting sir, on forum number 41!

http://forums.moneysavingexpert.com/forumdisplay.html?f=41

Read the beginners guide. You know it makes sense.
I have just PM'd someone sorry, so if I don't reply now I will just forget by the time I can send another one!! lol

redrabbit: I started out with £75 of my own money and never deposited more than £120 of my own money. Now I am MB'ing with profits so it's all good.
Even though my mum and my work colleagues think I have a gambling problem. :cheesy:

LittleMissAspie

reformed_84 wrote: »

My boyfriend and I am aiming to save £1400 per month between us. I am also looking to take on a second job to help fund the goal!

How much do you think we should aim at saving/ how long for given the current market? We're looking at houses in the region of £120 as a FTB home

Flippin eck, you'll be there in no time! My boyfriend and I save £600 a month into our ISAs, and I try to add "top ups" into our normal savings too. Got 12k so far, we've been saving for about 18 months now.

Since you're new to saving, I would keep your target simple. Say 10% of your intended purchase price, ie £12k. That will take you 8.5 months so to make it more of a challenge, perhaps give yourself a target of 12,000 in 7 months. Then review what the market is like and see if you want to keep saving.

I keep a spreadsheet showing how much we've saved, and I made a bar chart that shows our savings going up each month. It's nice to look at