22 year olds mission to Buy first house solo

lollipops96
lollipops96 Posts: 5 Forumite
First Post
in How much have you saved?
Hi everyone! im 22 and 23 in a couple of weeks, just wanted to share my journey so far. I have 16k in savings. Spread over various bank accounts trying to get the most out of my money. I have a LISA which i will be maxing out in March 2020. I still live home with my parents which I am grateful for as my rent is only £150 a month. Currently I earn 18k a year and have a second job which is 0 hours but I normally get an extra £300 a month. No outstanding debts and I drive a 19 year old banger but its £30 road tax, good mpg and cheap insurance. I give myself £200 a month spending and main Outgoings are rent £150, £13.50 gym, £18 sim only. Would like to purchase a house in summer 2020. I Live up north and the houses I've been looking at are around 70 - 90k. Thanks for reading :)

Comments

  • JennyJukes
    JennyJukes Posts: 361 Forumite
    First Anniversary Name Dropper First Post I won, I won, I won!
    Seems like you're really on the right path and well done for choosing houses well within budget! Good luck!
    Single woman doing it on my own... First house bought June 2021!
    Mortgage end date: 2041. Goal: Anything less!
    Mortgage currently paid off: 4%
  • lollipops96
    lollipops96 Posts: 5 Forumite
    First Post
    Thank you! Much appreciated. I’ve just agreed to do 59 hours extra hours over August from my 0 hour extra job so it’s going to be tough but I’m determined to save save save and own my first house! :)
  • MovingForwards
    MovingForwards Posts: 16,903 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Bangers are great fun, keep it going as long as it's viable :)

    Good luck with saving, you have got a great start with your savings already!
    Mortgage started 2020, aiming to clear it in 2026.
  • savingwannabe
    savingwannabe Posts: 16,610 Forumite
    First Anniversary First Post
    59 extra hours is fantastic. Well done you. I echo what Jenny said you are so on track.
    Aiming for a minimal spend 2022
  • LeagueOfWolf
    LeagueOfWolf Posts: 63 Forumite
    First Post Combo Breaker First Anniversary
    Well done!!! I bought my first flat at 26 in London on £23,000 salary!! You're like 100000 times further ahead of where I was and you have your head screwed on :)
    I wrote an article on Medium about the ways i saved up and still did fun stuff if you're interested to read it! I actually learnt SOOOO many of the tips from Money Saving Expert xD (like topcashback etc) You seem like you're a saver anyways I'm a spender/saver type!

    Good luck x
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