The 'We're saving for a deposit' thread

MrJamez

Jumping on board.

24 years old, currently have £3.4k saved which I hope to add a lot more to within the next year. 

Wish I’d have started a lot earlier rather than spending it down the pub!

Walker1

Thought I’d get you involved to keep me motivated. 

Will also me nice to have somewhere to track how I’ve been doing each month.

i was bang on 30k before I got paid yesterday before I got paid (including 2k Lisa bonus). Had £1413.95 left over from my previous wages which has all been added to my savings which takes me to £31413.95.

I’ve never really set myself any targets. I just save as much as I can at the moment as I’m desperate to get my own place. But looking at what I’ve got I’m gonna set myself a target of £40000 by my December payday. 

Betharooni

Hi

Lifetime ISA balance £2,621.06, First Home Saver balance £526.49. Finished paying off car finance today using savings from some other accounts. Need to replenish one of them but hoping to get building deposit savings up as soon as possible.

Am on annual leave this week so I’m planning to sit down on one of the days and plan my finances for the rest of the year, as well as taking pictures of some stuff I want to get rid of so I can put them on Facebook Marketplace or Ebay. Have got refund of remaining balance of Oyster card, as unsure when I’ll be back in the office so £43.20 coming in the next week which will go into my Lifetime ISA. As everywhere seems to be going cashless, I’ve emptied the majority of the money in my money boxes and put that into the LISA as well. 

Looking forward to seeing how much I can save for the rest of the year now I’m debt free 

Betharooni

Hi

Lifetime ISA balance £2959.35, First Home Saver balance £723.18.

Was able to add some extra money in last month so feeling in a good place at the moment. As I said last month, I need to repay money borrowed from other pots to clear my car finance debt (so contributions to house savings will be basic) and I’ve made some loose plans up to the end of the year and should be able to get subscribe my full £4K allowance to my Lifetime ISA in this financial year, and should get my First Home Saver to over £1K.

Have got the next two weeks as annual leave from work so aiming to sort some items out to sell in order to make some additional deposit money. Now I’ve paid the car off, I’m so motivated to get saving and excited to see what I can achieve.

B x

NinjaTune

Joining in to motivate myself.

Aiming to have £8k by this time next year (current savings = £3k).  Don't think I'm going to manage it but will be good to track how I get on.

tara747

Hello everyone
I hope you’re all doing ok. It’s been a weird few months. I've been busy working (thankfully my job is safe) and saving during lockdown.
My March to July 2020 totals are:
March £1,868
April £2,454
May £2,449
June £2,229
July £2,618

So far in 2020 I’ve saved £14,774.
My new grand savings total is £176,731

Amazing how much I can save when I don’t travel or have a social life! :beer:

Betharooni

Hi

Lifetime ISA balance £3,108.52, First Home Saver balance £810.87

Am still saving slowly but should start seeing a decent increase from next month onwards. I have a pay rise from next month and it’s backdated to April so should be able to add a nice amount next month, and will be able to start saving a really decent amount each month from October onwards. Am hoping to have more than £5,000 in my Lifetime ISA and more than £1,000 in my First Home Saver by the end of the year. At that point I’ll be more than 10% of the way there and will feel like I’m starting to get somewhere with it.

I still want to sit down and list some items over the next few weeks, I listed and sold a few DVDs last month but have got loads more bits that I want to get rid of. I have a week off later this month so will see what I can do then.

@Tara747 I’m blown away by how much you’ve saved, both overall and this year alone. Do you have any hints and tips for a relative newbie?

B x

delta13

delta13 said:

Heya, I'm a also a newbie saving for a house deposit so have subscribed for inspiration - you've all done amazing

So far I have saved £12,548 in 2.5 years which is really good for me, but I know I can do better - spent way too much on rubbish I didn't need this year.

Not been very good at updating here!
My current deposit savings is now at £20202.59 - This doesn't include the bonus I'll get on my HTB ISA nor an extra £1700 set aside for additional costs/ fees.
So compared to November last year, that's nearly an extra £8k in 8 months which I'm super pleased about.
I've started looking at properties but the market is pants in the area I am looking to buy in at the moment. So for the time being I'm going to continue to save, keep looking around, with an aim of finding a home and completing before the Stamp Duty Holiday comes to an end in March next year.

@tara747 - I can't believe your total saved! Amazing!

Betharooni

Hi

Lifetime ISA balance £3,266.49, First Home Saver balance £892.40.

Been able to add a little bit extra this month but will be able to really ramp up the amount saved from next month.

I had a chat with a financial adviser about what size of mortgage I could get with current salary so I know what I’m aiming towards; unfortunately on my present salary I would only get around £130K which would get me very little in my local area, so I’ll need to either save up significantly more than planned or get a higher paying job. Obviously at the moment I am nowhere near having enough deposit to get anything yet, but it certainly encourages me to save as much as I possibly can.

I’ll try to look into options for making more money at some point during this month to see what I can do going forward to really help me save as much as possible.

B c

Betharooni

Hi

Lifetime ISA balance £4191.09, First Home Saver balance £1004.38.

Have been able to pay almost £900 into my LISA this month so total has shot up. I have calculated the subscriptions I intend to make to the LISA for the rest of the financial year and I should be subscribing spot-on the £4K maximum. Am really happy with what I’ve been able to achieve this month and what I’ve achieved overall as have now hit 10% of my target. Have also got an account that I will be saving £25 per month towards house stuff I’ll need when I move, including washing machine, fridge, etc. As it will take me a couple of years to save the deposit, that should build up nicely.

B x