The 'We're saving for a deposit' thread

Dizzy_Ditzy

May total saving - £204. Grand total is £691.13

Not as fab as others but i have only been doing this for eight weeks

WodaSodowa

Dizzy Ditzy you are £204 closer to getting your house- slow and steady wins the race.

We kept saving for the past month as we only had deposit money when we went to view the house a month ago. Now all the money is in the bank- deposit, solicitor fees, broker fees, we already paid for valuation and homebuyers report. We are only waiting at the minute for solicitor to finish searches etc and if everything is ok we are ready to exchange and complete. So so so happy!

MrsR1234

Hubby got a tax rebate upon completion of his self assessment so that was s large chunk into out LISA's this month.

Just £1250 left to pay into hubby's before his is maxed at £4k for this year ! Exciting!
We were hoping for £6k a year between them but really secretly hoping for the full £8k this year!

c_tyler

First time here!

We are looking to move up the ladder. My husband bought our first house a couple of years ago. As back then I couldn't join him for the mortgage, we got a very small house, and now that I can help, we are looking to move.

Our goal is to save for a 10% deposit on a £180k house. We have some equity in our house, about £8k, so we need to save at least another £10k for the deposit.

At the moment, we have three different savings. I've got a H2B with Barclays (2.5%) and just opened a Flex Regular Online Saver with Nationwide (5%), and he has a Flex Online Saver with Nationwide (0.5%). I am pushing him to open a Regular Saver as well, as we could get 5% instead of 0.5%...

Our situation at the moment is like this:
H2B Barclays: £3400
Regular Saver Nwide: £250
Online Saver Nwide: £5000

We have been managing to save about £500/month. I have just got a job promotion, with a £6k pay rise, that I hope we can put all of it in the savings as well.

MrsLalore

H all,

Everyone seems to be doing really well
May was an ok month saving wise, definitely could have been better but I was off sick for a week which I'm not paid for so that made a dent. Already expecting June to be a poor saving month, have a wedding in France plus going to NYC for our 1st anniversary.

Bank Account Amount
Mrs Current £2,500.00
Mr Current £2,500.00
Mr ISA £18,646.25
Joint Savings £11,236.63
Mrs LISA £10,000.00
Mr LISA £10,000.00
Total £54,882.00
Aim £70,000.00
Remaining £15,117.12

I decided to pay in the full year allowance to both of our LISA's and have already received the full bonus for 2018/19 which I wasn't expecting.

Xenon

I have reached my deposit total of £110,000 with enough left for solicitor and various costs.

So a happy chappy

diggingdude

Some great money saving there everyone

lildoonbuggy

Well done everyone, especially the new starters! It's a long road but made shorter through each step!

We failed a bit on our self inflicted 'live off one wage' challenge due to holidays and outings with friends. It's my husbands birthday soon too so I am dreading another couple of guilt filled months coming up.

Paid £1250 into savings this month, bringing the total to £19500. However, i think i have also changed my expectations a bit in terms of the size and location of house i want, meaning the budget may have increased by 100k (eeep!!). My thinking is less about luxury, more about having a large family footprint to last us a long while. Accordingly, it may mean another year of saving - bringing us to 2020 before we can considdr home ownership. I won't lie, that does depress me quite a bit, but my comprise will be renting in the suburb at some point before hand. It's about 25 mile from where we are right now, so hopefully thay will be a good touch stone for us.

Feeling confused and deflated for now, but i am committed to this journey and have hope for the future.

gwyneth_valiant

Welcome to all the newcomers! I've been eerily absent here...work has been tough, and I ended up sick for a few days (first time in 10 years I have taken sick days!!). Other than that life is good. I'm at 30% of my target (so on track to meet my overall goal). Got a promotion at work with a nice upward bump in pay! All of that naturally is getting squirrelled away into savings!

That said, I had a few big outgoings that were necessary, but equally painful (naturalization fees, holidays that were booked over a year ago and a new sewing machine) that pretty much ate up my bonus for this year. Hoping the next few months are not as expensive!

Also, I've given up on the blog - honestly, it's so much work. I'm keeping fam & friends informed over snapchat in the true millenial fashion! So, they are still keeping me honest & accoutnable. And I'll aim to post an update here too at least twice a month!

bopsybunny

Pushing super hard on the savings for the next few months. We've just had to pay for our booking for a family trip to Center Parcs in August (3 nights for 447 quid for 2 adults! Yikes!). Determined to not let it get to me, so over the next 12 weeks or so we're cutting back quite significantly on unnecessary spending to absorb the cost of the holiday.

Mostly just cutting back on trips, social meals/drinks out (dinner parties are much more fun!), and buying things on a whim like clothes etc that we don't need.

2 weeks in, and we're getting our grocery shop down from around £70 per week to about half that! It's actually surprising how much we save by carefully planning meals and not buying stuff just because it's on offer, or because we fancy it. I've got coeliac disease so I quite often spend a fortune on gluten free cereals, bread, cakes, and junk food. Instead, I'm baking more, and cooking things from scratch more.

Also finding new hobbies that are free/low cost - we've taken up our local Parkrun, and are hoping to reclaim some currently unused bikes from my parents' shed, both for weekend bike rides and to take to Center Parcs to avoid their extortionate rental costs. Also the aforementioned baking.

All in all, we should still be on course for our target.