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    • atrixa
    • By atrixa 25th Sep 17, 7:59 PM
    • 72Posts
    • 72Thanks
    atrixa
    Atrixa's First Step to the Property Ladder
    • #1
    • 25th Sep 17, 7:59 PM
    Atrixa's First Step to the Property Ladder 25th Sep 17 at 7:59 PM
    Hello everyone! I'm 26 years old and currently renting a 1 bed flat in the North East of England. Due to not having a great income, I always thought I'd be renting forever but luckily, the North East has some of the most affordable (If you can call anything over 50k "affordable") properties in the country that aren't complete hovels. I've decided that I'll attempt to be buying my own home by the age of 30.

    After doing a bit of long term financial planning, I'll need to be rent and mortgage free by retirement to be able to retire at all with my company's not-so-great pension, and who knows where SPA will be by then? Better to start now and not fritter my money away.

    My current outgoings currently include:
    A credit card with a balance of 57 and some change. It was a few hundred quid, but I've been working at it for the past few months and I'll have this paid off on payday. I'll try not to touch it ever again.
    A Hitachi Finance loan. It's interest free at just over 2000. I've made 8 out of 15 payments of 129.
    A Barclays Partner Finance loan. Also interest free. It's 16.60 per month for 30 months and I started paying in March, I think.
    Student loans. These only ever get paid when my overtime tips me over the repayment threshold and it's not much.

    I'm not too concerned about the debt at the moment. I can make the minimums easily and none of them are accruing interest. I'd much rather put money in savings where it can earn me interest instead.

    So, my goals:

    1) Save 500 for a starter emergency fund.
    2) Save into a Help to Buy ISA once Hitachi Finance paid off. I need approx 5,650 saved to get 25% bonus for 70,000 house. (around a 10% deposit)
    3) Save into a high interest savings account for other mortgage/home costs (fees, decorating, removal etc.) I reckon around 3,500 should do it. I had a look at the article on here and that should account for all the basic costs.

    I've worked out that based on my current income, which will hopefully increase soon, it'll take 3-4 years to get the money together. Looking at the figures people in other parts of the country are quoting, I'm thinking myself lucky. Hopefully somewhere in there I'll be able to knock my pension contributions up to at least 10% (currently at 6%) and I'll be on my way to a secure future.

    Wish me luck!
    I work in Pensions and I'm currently saving for my first house deposit
Page 3
    • atrixa
    • By atrixa 6th May 18, 11:23 AM
    • 72 Posts
    • 72 Thanks
    atrixa
    Passport interview was fine. I went on the bus to save a few quid as I don't have a railcard anymore. Took ages but I made a running playlist on my phone. I've decided I'm going to do couch to 5k. I was going to order some new walking shoes next month as my current ones are leaking water in, so I've just ordered some running shoes instead along with a few accessories.

    I've put on a bit of weight recently and I haven't done any exercise other than walking in ages, so I was thinking of joining a gym, but taking up running will be cheaper overall.
    I work in Pensions and I'm currently saving for my first house deposit
    • savingwannabe
    • By savingwannabe 6th May 18, 11:33 AM
    • 13,592 Posts
    • 47,065 Thanks
    savingwannabe
    Well done that is great. Running is great to release endorphins. I used to years ago. Now I'm just a lump. I hope you can enjoy the nice weather.
    Christmas Fund 41.00 (Dec 1st 2018)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • atrixa
    • By atrixa 10th May 18, 6:03 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    I did, thanks! It's cooled down a bit now but it's still sunny. I did my first run on Tues morning and now I can't sit down or stand up without making noises. So sore... My passport arrived fine, so that's one less thing to worry about I also have an interview next week for an internal job, so fingers crossed!
    I work in Pensions and I'm currently saving for my first house deposit
    • Skint yet Again
    • By Skint yet Again 14th May 18, 8:51 PM
    • 3,347 Posts
    • 19,005 Thanks
    Skint yet Again
    Good luck for the interview next week. Is it more money ?
    Balance 0% credit card to pay 1360 1310 1210 1160 1110
    • savingwannabe
    • By savingwannabe 15th May 18, 7:28 PM
    • 13,592 Posts
    • 47,065 Thanks
    savingwannabe
    I can barely walk in this weather and you are running. You deserve a medal. Good luck with job interview.
    Christmas Fund 41.00 (Dec 1st 2018)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • atrixa
    • By atrixa 15th May 18, 9:08 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    Good luck for the interview next week. Is it more money ?
    Originally posted by Skint yet Again
    Thanks all Not sure about money yet- they seem to be allergic to posting salaries where I work, but I've asked for just over 10% more.
    I work in Pensions and I'm currently saving for my first house deposit
    • atrixa
    • By atrixa 25th May 18, 5:53 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    Payday! Savings will look like this once the standing orders move money around:
    Holiday Sinking Fund: 101.29
    Help to Buy ISA: 390
    Mortgage/Moving Costs: 150
    Emergency Fund- Fully Funded at 500
    I work in Pensions and I'm currently saving for my first house deposit
    • atrixa
    • By atrixa 22nd Jun 18, 7:03 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    It looked like I only had 1.80 left for groceries til payday from my spreadsheet, so I only spent 1.06 in the supermarket earlier just to tide me over. I've checked my bank account and I've found 8 from somewhere. Where was that hiding?! I can replace some toiletries now
    I work in Pensions and I'm currently saving for my first house deposit
    • savingwannabe
    • By savingwannabe 22nd Jun 18, 9:35 PM
    • 13,592 Posts
    • 47,065 Thanks
    savingwannabe
    Well done on finding the cash.
    Christmas Fund 41.00 (Dec 1st 2018)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • atrixa
    • By atrixa 27th Jun 18, 6:09 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    Payday! Can't be bothered to update figures, but I've put the usual amounts into my H2B ISA and my other house account. I've put 20 in the holiday fund and a few quid in another fund, this time for another pair or running shoes. I'm on week 8 of Couch to 5k, and I've decided to keep going with it. I feel so much fitter. The cheap running shoes I bought are already on the way out (what do you expect for 12.99?) so I want to invest in a really good pair. They can cost an absolute bomb, but I'll get my gait analysis done to make sure I'm spending wisely.
    I work in Pensions and I'm currently saving for my first house deposit
    • atrixa
    • By atrixa 27th Jun 18, 6:16 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    Oh, and I've got another job interview for Monday, fingers crossed!
    I work in Pensions and I'm currently saving for my first house deposit
    • atrixa
    • By atrixa 2nd Jul 18, 5:34 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    The interview went pretty well. Could probably have sold myself more but it's difficult when you're on the spot! I renewed my contents cover today, great level of cover and I got that 2 for 1 cinema ticket deal! Always pays to check the comparison sites.
    I work in Pensions and I'm currently saving for my first house deposit
    • savingwannabe
    • By savingwannabe 3rd Jul 18, 4:24 PM
    • 13,592 Posts
    • 47,065 Thanks
    savingwannabe
    Hurrah for all your savings. I hope you can get some good running shoes and I hope the interview result is good.

    Enjoy the weather.
    Christmas Fund 41.00 (Dec 1st 2018)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • atrixa
    • By atrixa 11th Jul 18, 9:07 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    Didn't get that job, but I have another interview on Tuesday. I think i'll see how this one and another application I've done plays out then give myself a break.
    I work in Pensions and I'm currently saving for my first house deposit
    • savingwannabe
    • By savingwannabe 12th Jul 18, 7:50 AM
    • 13,592 Posts
    • 47,065 Thanks
    savingwannabe
    I am sorry about the job. I hope that the next one goes well. Sometimes it isn't you at all it just goes to the candidate they already know.

    Hope your running is going well. I haven't done anything for weeks and must restart.
    Christmas Fund 41.00 (Dec 1st 2018)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • atrixa
    • By atrixa 13th Jul 18, 7:14 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    Thanks I'm doing my first parkrun tomorrow. I'm quite nervous about it really. I always get anxious over daft things like 'what if I don't know where I'm going'. I'm sure it will be fine- biggest problem will be the heat :/
    I work in Pensions and I'm currently saving for my first house deposit
    • atrixa
    • By atrixa 17th Jul 18, 9:27 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    Bagged free cinema tickets with a friend's expiring vouchers. Went to see Incredibles 2 and really enjoyed it! Had another interview today. I was a nervy wreck for some reason. I should hear about that next week. Parkrun went well on Saturday so I'm planning to do another one this weekend. Great atmosphere, and free!
    I work in Pensions and I'm currently saving for my first house deposit
    • savingwannabe
    • By savingwannabe 18th Jul 18, 9:20 PM
    • 13,592 Posts
    • 47,065 Thanks
    savingwannabe
    Hurrah for cinema for free and for parkrun. I think you are nuts in this heat but applaud you. lol
    Christmas Fund 41.00 (Dec 1st 2018)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • atrixa
    • By atrixa 25th Jul 18, 9:46 PM
    • 72 Posts
    • 72 Thanks
    atrixa
    Ugh, another disappointment on the job front, but there should be a pay rise on the cards in my current position. Feeling very burned out with the whole process though.
    I work in Pensions and I'm currently saving for my first house deposit
    • savingwannabe
    • By savingwannabe 26th Jul 18, 8:36 PM
    • 13,592 Posts
    • 47,065 Thanks
    savingwannabe
    Glad there will be a pay rise sorry about the job news. It is so hard to put yourself out there and feel judged. At least you are brave enough to have a go. Have a good weekend.
    Christmas Fund 41.00 (Dec 1st 2018)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
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