The 'We're saving for a deposit' thread

diggingdude

compbren wrote: »

Quick question, but do you guys include the Help To Buy Bonus money in your totals?

I never used to count the help to buy bonus but now its in a LISA and the money is there I count it

Currently up to £121 on my Curious cat payouts, hoping by the time I buy somewhere I will have enough free money to buy a new bigger TV

tara747

compbren wrote: »

Quick question, but do you guys include the Help To Buy Bonus money in your totals?

Anyway, I've not posted on here in about a year, I'm still saving as best I can but it's so hard. I ended up buying a car last year which dented my savings a bit but I had to.

I'm currently at £35,400 at the minute, aiming to get to £40,000 by the end of the year, with the aim to buy early next year (I'll be 34). I was at £40k this time last year but ended up buying a car.

Will try and be more regular on here whilst I aim for my target. Hopefully I'll hit £36k by the end of the month.

No, I don't count mine. The interest I've already earned, yes, but not an as-yet unpaid amount of money. Tbh, most people need contingency funds when they buy a house, so I just see it as what it is - a bonus.

cepheus

How to save for a deposit on £70,000 a year! In our money series we’re finding out exactly how real people spend, save and invest their incomes to meet their costs and achieve their goals.

Obviously she doesn't shop for food at Aldi :eek:

Regular monthly outgoings:

Rent and bills: £830
Pension contributions: £264.25
Travel: £110 (averaged from annual travelcard)
Mobile phone contract: £10
Sports club: £40
Food shopping: £350
Holidays: £375
Savings target: £1,500
Total: £3,479.25

Amount left to spend on other treats: £523.75 / £121 per week

https://inews.co.uk/inews-lifestyle/money/how-i-live-69500-salary-saving-buy-a-flat/

The spending diary of a millennial who doesn’t live in London and therefore doesn’t matter :rotfl:

https://www.thedailymash.co.uk/features/the-spending-diary-of-a-millennial-who-doesnt-live-in-london-and-therefore-doesnt-matter-20180129143358

bopsybunny

That £70k chick is hilarious. As if that's even an article. How could anyone struggle to save for a deposit with that kind of salary?! £350 per month on food shopping for 1 person? Even when we eat like kings we would struggle to spend that between the 2 of us!

My life is much more like the Daily Mash guy packed lunches all the way!

In a very frustrating turn of events, my employer has thrown a spanner in the works. I found out today that my job is at risk of redundancy. After 45 days consultation I'll know the final outcome, but I'm so annoyed. We were going to be looking at applying for a mortgage (agreement in principle probably, but possibly full application) next month! Now I feel like buying a house would be really reckless. I just wanna cry. :(:(:(

excelwizard

excelwizard wrote: »

My current saving totals:
Current account - £1050
Joint account - £750 (my half)
Flex Saver - £6150
Credit card - -£720
LISA - £10300 (including last years bonus)
total - around £17650

My partner has around £11500 so our combined total is around £29,000

How things can change in a few months..! A few weeks after I last posted on this thread in May our landlord put the house we're renting up for sale due to his financial situation which means we're currently looking for somewhere else to rent. For us this was actually a blessing in disguise - the house was FREEZING cold in the winter months and we're ecstatic not to have to live in it for another winter. For reference we spent around £250 in gas over the 'beast from the east' weeks :eek:

We're also using the opportunity to move to a different side of the city to be nearer to my partner's work and try a change of lifestyle. We're also pretty much agreed that we're going to rent for the next few years to see what type of property we want to buy. Before living in this freezing cold victorian house I would have laughed off buying a new build however we've come to realise that living somewhere nice, modern and warm is what's important to us. The move across the city and to a new build flat is also going to mean our rent will go up however this is a conscious decision on our part so that we can "try before/if we buy".

To be honest neither myself nor my partner are natural renovators and for us saving for a few extra years is definitely the right choice. We've discussed at length that we'd hate to buy somewhere then hate the area/style of property.

Apologies for the long post

EDITED following July payday:
Current account - £68.89
Joint account - £8.19
Starling - £0.08
Shawbrook ESaver - £7,743
Credit card - £0
LISA - £10,324.02
Total £18,144.18

Partner has £17,300 taking our combined total to £35,444.18. End of year goals are for me to have around 21K in the bank and my partner to have around 20K taking our combined total to around 41K. By this time both my partner and I will have been seriously saving for just over 2 years.

Welcome to all the newbies and congratulations to those who are staying accountable with their money, no matter how big or small the saved amounts and targets are :T

tara747

July payday update!

I managed to save £1,172 in July. That's £7,205 so far this year, and £128,938 overall.

:beer:

_Amaryllis_

July payday update.

£1200 this month taking my total so far to £70,500. :beer:

I've done 39 hours overtime this month so I'll be getting around £600 extra after tax on my next payday. :j

bopsybunny

Pay day!

Had a busy month, and have taken my eye of the ball with regards to spending/saving due to circumstance, but oddly on pay day still had a bigger than average pot to transfer to savings. We'll have added £1261 to savings this month.

Work has been crap (redundancy risk looming...) and it was my birthday this month, so there have been many times I've been tempted to treat myself, but have still been quite careful. Threw an afternoon tea party at home with lots of cheap decorations (The Range and Home Bargains are great for party stuff) and homemade food. Two long distance car trips (4 hours away both times!) to see friends and family. Nice to know we can relax and enjoy ourselves a bit and still save really well.

We're so close to our target now. Due to my redundancy risk we're not going to be applying for a mortgage anytime soon, when things settle down in a few months we'll be ready to buy (if all works out!)

diggingdude

July update, managed to stick to my savings target again though I suspect this may be the last month I can do this amount as 95% on the way to driving again and the additional costs this brings.

Last month's total £16021. Total save this month £1275

Current Savings

Club Lloyds Regular 3% - £3,925 (waiting for it to close to get interest then will try and start it again)
Lloyds Regular 2.5% - £1000
Halifax Regular 2.5% - £1000
Virgin Regular 2% - £1000
LISA Account 0.75% - £10,022
Ford Money 1.21% - £350 (legal fees)
Target - £20000 April 2019 Total so far £17296.22 (If I can keep this going I will have beaten this target in October - woohoo!)

Dizzy_Ditzy

July update - better month this month some extra £'s from extra work I've done means I've been able to put £466 away this month :j :j

I've also taken my eye off the ball somewhat in July but I'm determined to claw it back in August. Not expecting to put more than £250 away this month as have some dental work coming up so it's going to be a struggle but I'll manage

My total is £1350 since April 9th

I am counting the interest in my HTB/saver accts but not the HTB bonus at this point as if it's not in black and white in my statement it isn't there :rotfl:

Tomorrow I'll sit down and do my monthly money totals so I know what I've got to play with this month, or not as the case may be :rotfl: