How are you all saving for your deposits

lostinrates

PasturesNew wrote: »

£112k in 8 years is £1000 per month EVERY month, plus the interest/compound interest.

I wish I had another half to send out to work. The difference is staggering.

Thats true, but remember the things you go without/scrimp on are double too, unless you have identical hobbies and interests, and the things you need to save for, yep, they double too!

beingjdc

PasturesNew wrote: »

Show her the thread on one of the other boards where people are living for a year on £4k. In fact, I pretty much live on that much without even trying and not because I have to, it's because I hate shopping and I don't want "things".

I tried to tell her once last year that I know people who only own one pair of shoes. She didn't believe me that such people exist in the 21st century...

LittleMissAspie

^^ I live in 2 pairs of shoes, smart for work and trainers for non work. I do have others but they are stashed away because I never wore them very often anyway. Likewise, my boyfriend has a couple of pairs stored but wears one pair all the time (he can dress casual for work).

sodamnfunky wrote: »

Ive just read this thread, and my god am I glad I dont want to buy a house if thats how I would have to save for a deposit. I dont know how you do it, well done to you all.

I've been scrimping and saving ever since I started getting pocket money in secondary school. It's just how I am. Like PasturesNew, I hate shopping and don't want clutter. I could fritter my money away on lunches, Starbucks, clothes I don't wear and gadgets I'll use once OR I could go without things I don't need and then treat myself to my dream car and dream house. In a few years time, I'll have both

PasturesNew

beingjdc wrote: »

I tried to tell her once last year that I know people who only own one pair of shoes. She didn't believe me that such people exist in the 21st century...

She'd be horrified at my shoe "collection" then!
It's the equivalent of one pair of shoes.
One pair for walking (£8)
One pair for work (£4)
One pair for fun/out (£4)
One pair for absolute top best - bought in 1997 and worn 3 times (£15)

Turnbull2000

Haven't really got much put away, particularly after spending thousands on my cycling. But I've been offered the chance to work in South Africa for a minimum of three months with the potential of up to 3 years. I could get some good money out of this. But I'll be sacrificing my active outdoor lifestyle, as I'll likely be shot if I try running or riding around Johannesburg, or torn apart by great white sharks if I went for a swim. And knowing me, I'd probably spend what I earn jetting around on safaris.

I'm torn :think:

gahhh i've havnig a cramp attack!!!

TJ27

I've saved a small fortune in the last year (not for a deposit) by selling my car and switching to using my bike. I guess it's not for everybody but honestly it's worth a go.

I worked out that my car was costing me about five grand per year in depreciation, tax, insurance, maintenance, MOT, diesel, etc. So I sold it. The twelve grand I got for it paid off a third of my remaining mortgage and the five grand annual saving has made a big difference. I have also saved a heap of interest on my mortgage and made a heap of interest on my savings.

I cycle to and from work and for work related calls. I use trains or busses if I need to go somewhere with the kids. I occasionally get a taxi or hire car if I need to. I get most of my shopping delivered, using the discount codes on this site, and it's cheaper than going to the shop! I cycle to town once a week for fresh meat in the market.

I feel massively fitter and more well. My daily commute is actually quicker than by car and poor weather doesn't bother me in the slightest. I started off finding it difficult to cycle five miles but now I can do fifty without too much trouble.

People will tell you stuff like, "I can't do it, I live too far from work" or "what about getting the kids around?" or "what about my other half?" or "there are no busses here." Sometimes these are valid reasons but generally they can be overcome. I know a bloke who cycles 36 (hilly) miles to work in the morning and 36 miles home again in the afternoon, every day, five days a week, forty five weeks a year. I myself have two young kids and my wife is in a wheelchair.

Oil is ridiculously expensive. If you can slash your usage you'll save a heap.

Unlike Turnbull, my bike is rather good but was given to me by a mate!!

PasturesNew

TJ27 wrote: »

I know a bloke who cycles 36 (hilly) miles to work in the morning and 36 miles home again in the afternoon, every day

Blimey. I got a bike. I cycled the hilly roads on the north Cornish coast. I averaged 9 miles/hour (or it might have been 6mph and I've exagerrated it over time). And I thought I was doing well! Push it UP the hill, ride down!

That'd take me 8 hours a day to cycle.

Doesn't he smell when he gets to work?

Even if he's averaging 20mph it's still taking him nearly 2 hours each way. If I got home about 8pm after a sweaty ride and had to turn round and cook my evening meal and wash up, I'd oversleep the next morning when I had to be up at 5 and out at 6 again!

Is he mad?

Update: I just checked. I did 9 miles in 1.5 hours, so it was averaging 6mph

TJ27

PasturesNew wrote: »

Blimey. I got a bike. I cycled the hilly roads on the north Cornish coast. I averaged 9 miles/hour. And I thought I was doing well! Push it UP the hill, ride down!

That'd take me 8 hours a day to cycle.

Doesn't he smell when he gets to work?

Even if he's averaging 20mph it's still taking him nearly 2 hours each way. If I got home about 8pm after a sweaty ride and had to turn round and cook my evening meal and wash up, I'd oversleep the next morning when I had to be up at 5 and out at 6 again!

Is he mad?

Believe it or not it takes him about an hour and a half each way!! He's a bit exceptional though and used to be a Midlands road racing champion.

My 4.5 mile each way is no more sweaty than a fifteen minute brisk walk but I guess after 72 he's ready for a shower.:D

neverdespairgirl

PasturesNew wrote: »

But I do have the fear of God in me over where to leave the bike so it won't be nicked or vandalised. I'd not want to come out with a full load of shopping on my back only to discover some scroat had nicked my seat/front wheel. They come off in 10 seconds flat.

In central London there are bikes everywhere, so it doesn't bother us - there are always nicer ones to be nicked!

neverdespairgirl

beingjdc wrote: »

Ooh, that sounds good. Do you want to bring your other half down the jubilee line with a bottle for dinner sometime? You could be a good influence - try and explain to my young lady that no normal handbag should cost £4k, that sort of thing...

That is an awful lot for a handbag.

I have a bag I like very much. It's a small black leather rucksack, cost ITRO £200, but my mother bought it for me as a birthday present (she thought I'd like it, and she was right) and it's lasted me 4 years. Bit of regular polishing and it's still really nice.

I have two evening bags as well - both silk, and made by my grandmother. They are gorgeous, covered in embroidery and one has beading sewn on it.