The 'We're saving for a deposit' thread

Beckyy

I woud personally put it into the house deposit, because the bigger deposit the smaller the mortgage - that's £X of money that you won't have to pay mortgage interest on. I'd also rather benefit from it now than having to wait until I retire.

Just my thoughts though.

redbull5

Just checked the bank, got paid early so thats £300 saved today and another £300 waiting to go over after the DD's come out. Excellent

mrcashman

Quick update from me as it's payday. Last updated 07-10-2011 at £11.5k.

My total now stands at ... drumroll ... £13k.

I set myself a target to save 4k more this financial year, so that's another 1.5k from that total. 2.5k more to go before April....

Keep going everyone!

purplevamp

ceh209 wrote: »

I'm about to get my first ever bonus from work - let's call it a 'high' 3 figure sum!

I was going to put it straight into my deposit savings. But we're also given the option of 'sacrificing' it into our pensions - which given the tax/NI savings, I'm now considering doing.

Just wondering what people think? Will also be asking this on the pensions board as I know you lot are biased towards house deposits!

How about putting in half and half? If you're not sure then this may be a good compromise. Alternatively you could share it with your fellow MSE'ers

vl2588

Ooh yes good thinking - don't put all your eggs in one basket

This thread is making me feel slightly guilty as I haven't thought about my house deposit for a bit and haven't checked or updated my balance. However end of month coming up so shall do that soon!

J_i_m

End of month report for me: £400 standing order will probably go through on Monday and I expect to be able to add £100 on top of that. If all goes to plan my total should reach £3350.14 by the end of the month.

quintwins

small update from me (i'm doing a weekly thing now instead on monthly) i now have £980.51

tara747

Payday update from me!!! I saved £946 in November so that takes me to £53,454! Just off to update my sig. Will I make it to £55,000 by the end of December? Doubtful tbh but I am ever optimistic. I am owed a few ££s by a few people so won't count that until I get it.

Well done all of you, you are doing soooo well!!!

beckythemadcow

Sadly I had a car accident and have written off my car my voluntary excess was so high to keep the premiums down that we are only getting £100 back (plus hopefully £120 for the tax)

As we were anticipating the end anyway, we were leaving a buffer in the current account but expenses to date:

£600 replacement car - an old fiesta
£180 tax for it
£231 insurance increase for having a "riskier" car (damn birmingham!)

So already my mistake cost me £800, and my insurance is set to be £2k more upon renewal

Still, must be thankful that no one was hurt, and thank you to the lady who helped me push my car off the road, and to the guy I bumped into for being so nice.

Probably going to impact on house savings by about £5k over the next few years.

tara747

Aw Becky, sorry to hear that Will your insurance really go up by that much??? Glad you are ok though, that is the main thing xxxx