The 'We're saving for a deposit' thread

J_i_m

Probably because of the less favorable terms, higher interest rates and the larger amount of the property you have to pay off.

Having a deposit means that you've already paid for part of the property and it can also provide lower interest rates on the repayments.

xmillyx

Congratulations Domino!

I cashed in some coins so £12.40 added. Leaving my total at £10,062.40!

tara747

Ooh, well done Domino9, that's great news! Happy house hunting and keep us posted

eviekins

Odd one out! No pension here!
I'm self employed so no company pension for me!! Boo

Right now I'd rather put everything into my house savings. Once I'm no longer saving towards that I'll be saving for my pension.
I'm only 23 so don't feel that this is too bad time wise...

eviekins

Congrats Domino!!
Look forward to hearing updates from you!

johannalf88

eviekins wrote: »

Odd one out! No pension here!
I'm self employed so no company pension for me!! Boo

Right now I'd rather put everything into my house savings. Once I'm no longer saving towards that I'll be saving for my pension.
I'm only 23 so don't feel that this is too bad time wise...

You just have to be careful with that one, you need to start the pension as soon as you have extra money a month, so it doesn't appear a drain! I am "only" 25, but have contributed all my working life for that purpose, to me it appears like a tax (but one I know I am getting back! lol!) My husband is due to start his pension next year, when he should have big pay increase, so we wont be 'loosing' any money a month in that respect.

Eponym

I'm not too worried about a pension at the moment because I have a Civil Service pension. I pay 4.7% (used to be 3.5% but the government put it up) and employer rounds it up to 19%. Of course, I don't earn very much so it's not a pot of gold or anything. For that reason I also contribute to a S+S ISA which is intended for additional retirement provision. I started at £50 pm but got a small pay rise so increased it to £85pm.

Becky_Boo

Well I've added £1,775 to the savings pot this month. Had a little bonus from my boss, but after the tax man took more than his fair share (in my opinion!) and I siphoned a little of the top to add to the Christmas fund, it was less than I would have liked. I was hoping to reach the £10k barrier before Xmas - but looks like unless I can magic up £225 I'm not going to make it.

Hmmm... off to think up some money making ideas....

J_i_m

I would suggest eBaying some advertising space on your forehead... but that's been done before so the novelty factor has worn off.

puppetmaster00

Monthly update !
So, I didn't save as much as I would have liked. Only squirreled away £660 this month which brings the total to £8840. Going to Paris in a few weeks, had to pay the rest of that off and take out some spending money which is why.
Will be hitting the 9K mark this month, in line to hit my target before the end of the year.