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Atrixa's First Step to the Property Ladder

edited 30 November -1 at 1:00AM in How much have you saved?
87 replies 22.5K views
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  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    Update, it feels like it's been a while. Here is what my savings look like:
    Sinking fund for new Laptop: £61/£300 ish
    Sinking fund for Holiday: £300/£300
    Help to Buy ISA: £1845/£7000
    Mortgage and Moving costs: £1250/£3600
    Emergency Fund: £500/£500

    Everything is on track, including my running! Another 10k next month, I'll see if I can beat my time from November.
    I work in Pensions and I'm currently saving for my first house deposit :T
  • savingwannabesavingwannabe Forumite
    14.9K posts
    Tenth Anniversary 10,000 Posts
    ✭✭✭✭✭
    Hurrah for savings. Well done.
    Trying to be frugal 18/31Jan; 15/29 Feb 26/31 March 23/30 April 18/31 May 20/300 Jun NSDs.
    Saving change in money box.
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    Savings are still on track. My Lloyds savings account matured last month earning a paltry £14ish. I've opened another savings account (1.5% interest) and transferred my Mortgage and Moving savings to that.
    I work in Pensions and I'm currently saving for my first house deposit :T
  • savingwannabesavingwannabe Forumite
    14.9K posts
    Tenth Anniversary 10,000 Posts
    ✭✭✭✭✭
    Well done on moving your savings account. Savings rates are so low at least you are shopping round!
    Trying to be frugal 18/31Jan; 15/29 Feb 26/31 March 23/30 April 18/31 May 20/300 Jun NSDs.
    Saving change in money box.
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    I've not updated in a few months, mainly because work has been a disaster. I was placed at risk of redundancy along with my entire department at the end of July and then had some of the most stressful few months of my life until they lifted it. I have a 'safe' job again (whatever that means) and I'm still on track with my savings, luckily.
    I've shifted my savings around so I'm saving less each month but my end date remains the same. I've been struggling to keep within my food budget each month, so hopefully that will get easier if my promotion ever goes through (this saga has been ongoing for ages now). I'm nearly halfway to my mortgage deposit goal :)
    I work in Pensions and I'm currently saving for my first house deposit :T
  • savingwannabesavingwannabe Forumite
    14.9K posts
    Tenth Anniversary 10,000 Posts
    ✭✭✭✭✭
    I am so glad your job is safe. It is so hard to feel secure in this job climate. At least you are saving that is great. I hope you get the promotion and you will feel better. I wish we could go back to the days of jobs for life. Have a good month atrixa and stay strong.
    Trying to be frugal 18/31Jan; 15/29 Feb 26/31 March 23/30 April 18/31 May 20/300 Jun NSDs.
    Saving change in money box.
  • bestlifenowbestlifenow Forumite
    259 posts
    100 Posts Second Anniversary Debt-free and Proud!
    ✭✭
    Hi atrixa, I've been through a similar thing with work over the last year or so, and it's just so stressful. Hope you can relax a bit now. Well done on your savings.

    bln
    July 2020 Make £5 a day £0/£155
    1DV100days £774/£3244

  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    Thanks both, things are finally feeling much better. My promotion has gone through and it was backdated so I had a lot extra in my pay. I siphoned a load of it into my moving expenses fund so that one is almost full. I'm going to start saving for a proper emergency fund with 6 months worth of expenses so I have that safety net in place. The help to buy isa should be full by June 2021, but I could save the amount I need a lot quicker than that, but due to the £200 per month limit I can't get the 25% bonus on all of the deposit if I do that. Since I'm losing money by renting, saving on the rent is definitely worth more than some of the bonus though.
    I work in Pensions and I'm currently saving for my first house deposit :T
  • Skint_yet_AgainSkint_yet_Again Forumite
    4.4K posts
    Eighth Anniversary 1,000 Posts Name Dropper
    ✭✭✭✭
    Well done on your promotion and topping up savings :T
    0% credit card £1360 ~ paid in full
    0% Car Loan £7500 ~ paid in full
    JAN 2020 = NOW DEBT FREE :)
    Emergency fund £1000 now 51 and saving for retirement !
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    What a strange time we're living through! My house savings are going through fine as usual but the pandemic has made me worry that I don't have nearly enough of an emergency fund. My company have just announced that they're effectively scrapping company sick pay for the next fortnight and doing SSP only (I'll be looking into whether that's even ALLOWED since the sick pay is in my contract), so I'm a bit worried. Obviously I'm not planning on getting ill but you never know. I'm going to go through next month's budget with a fine toothed comb and chuck any money I don't need to be spending on non-essentials into my savings. I've found that groceries are becoming more expensive as all the budget and own brands are clearing out of the supermarkets first. I picked up a kilo bag of rice for about £4.50  :# (luckily I had some nectar points to spend) because it was the last one on the shelf. I usually spend about £1! I hope this doesn't carry on for much longer.
    I work in Pensions and I'm currently saving for my first house deposit :T
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