The 'We're saving for a deposit' thread

scumboss

nat21luv wrote: »

Well done scumboss! That's a fantastic amount. Can I ask, how long did it take you to save and do you have anY advice?

Around five years. Each month I put £1000 in a savings account and live of the rest. It hasn't been easy at all. Numerous times I've wanted to go out and buy a brand new car and those nice techie gadgets you see. I often look at the price of something and think how many hours I have to work to buy it. It soon turns me off buying whatever it is.

Once you start seeing your savings go up you will get a nice buzz out of saving and you will find ways of saving even more. This site can help a lot.

amn_2

scumboss wrote: »

Around five years. Each month I put £1000 in a savings account and live of the rest. It hasn't been easy at all. Numerous times I've wanted to go out and buy a brand new car and those nice techie gadgets you see. I often look at the price of something and think how many hours I have to work to buy it. It soon turns me off buying whatever it is.

Once you start seeing your savings go up you will get a nice buzz out of saving and you will find ways of saving even more. This site can help a lot.

5 years is impressive, well done! I don't think I'd have the patience. We are looking at 12-18 months and it seems a long way off. I'm sure your new home will make the wait worthwhile

tara747

I can't wait for payday to update my sig!!!!!! Hurry up

Dreamer80

Well,

We have hit our 10% deposit. AIP in place and 6 viewings booked.

Exciting times :j

D80

lindsaygalaxy

Congrats Dreamer60. This thread and people achieving their targets is really helping to keep me going! The other night we even decided not to have a take-away but save the money for the house instead!

eviekins

I can unfortunately report that I've been a bit rubbish recently!
It's been a very expensive start to the year. I've got my SA tax bill - which is never a nice month for my savings (once its been put in the savings you kinda think of it as your own money for a while - and it's never nice paying it back!)
I also decided as of new year that I should stress less and enjoy life more! (We'll see how long it lasts!) I'm only young, but you never know how long you have left. I might not even reach house buying age, so I've decided to spend a little and enjoy myself more! Me and my partner have purchased a few gadgets, had some expensive days out, and just generally bought a few bits and bobs that we liked and enjoyed ourselves.
Although ive eased up on the strict saving routine for a little while, I'm still hoping to hit 60k by the end of 2013! Fingers crossed!

[Deleted User]

eviekins wrote: »

I can unfortunately report that I've been a bit rubbish recently!
It's been a very expensive start to the year. I've got my SA tax bill - which is never a nice month for my savings (once its been put in the savings you kinda think of it as your own money for a while - and it's never nice paying it back!)
I also decided as of new year that I should stress less and enjoy life more! (We'll see how long it lasts!) I'm only young, but you never know how long you have left. I might not even reach house buying age, so I've decided to spend a little and enjoy myself more! Me and my partner have purchased a few gadgets, had some expensive days out, and just generally bought a few bits and bobs that we liked and enjoyed ourselves.
Although ive eased up on the strict saving routine for a little while, I'm still hoping to hit 60k by the end of 2013! Fingers crossed!

Saving for a deposit and having a nice life is a balancing act - you just need to find the right balance for you!

If you're too strict, you end up wishing your life away, and too lax and you end up with no savings - just find the middle ground!

D9

afropuff99

Joining this thread hopefully will give me the final push to save! £20,024.75 save with a target of £40,000.00 so just over half way. Target of £1,109 between myself and partner over the next 18 months. Lets see how we go!! :-)

echo_and_narcissus

We're on about £1717 after gathering all savings as a start. Have decided on an initial target of £13000, which equates to 10%, and I reckon we can achieve in three years. That is pretty generous timewise but I don't want to be unrealistic and feel disheartened, as currently only my husband is working so it will take a while.

I plan to return to work in around three years, so when we apply for a mortgage I will probably be working, but I wanted to ask if anyone knows which banks take into account things like tax credits on top of wages for income purposes when assessing suitability for a mortgage? I filled in a calculator on the Nationwide website and it did ask for such info and came up with a reasonable potential mortgage amount factoring in tax credits and my estimated deposit amount.

Thanks!

lindsaygalaxy

£140 less today due to car repair Going to try save extra on groceries next month to make up for it!