Saving for a house deposit, how does anyone do this now...

Mr Whippy said:
Have a cheap shit phone
Drive a cheap shit car
Cut down on meals out, trips to cinema, takeaways etc
Plan your meals and switch your weekly shop to Aldi/Lidl
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That's the crux of it mate. Got to do without for a good period of time to save for something like a house deposit unless you've got a large disposable income.
 


Dunno tbh. Made some good decisions where I didn’t have to pay rent or bills for two years and managed to save up a good deposit whilst not skimping on what I wanted to spend on.

It meant having to be glued to a mobile phone for those two years to sort out the petty squabbles of undergraduate students, but it was worth it. Tbh I’d sometimes go weeks without having to do a thing.
 
Batdad said:
Few posters on this thread with their head up their arse. Average housing costs have massively outstripped average wages since the 70s/80s so its not exactly a simple matter of stopping in or cutting back on the avocado toast.
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I bought my house four years ago, it’s not hugely different now and it’s amazing what you can reduce and what I can save.
 
Matched Betting can be an easy way to earn a couple of grand if you just focus on the sign ups.

An hour or two a day for a month should do it and you'll make 1.5 to 2k.

You can then get really into it and do the reloads if you want, depending on how much time you put in and your account health £100 a week is achievable.

Profit accumulator and oddmonkey are the mains sites to help with this.
 
Charmless Man said:
Dunno tbh. Made some good decisions where I didn’t have to pay rent or bills for two years and managed to save up a good deposit whilst not skimping on what I wanted to spend on.

It meant having to be glued to a mobile phone for those two years to sort out the petty squabbles of undergraduate students, but it was worth it. Tbh I’d sometimes go weeks without having to do a thing.
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I know a lad who used to do that whole looking after the student accommodation thing. Canny money for nowt really.
 
get a lifetime isa account with a service like moneybox. you get govt 25% bonus a year (can put a max of 4k in), if your lass does the same you end up making a decent amount that no savings account could achieve.
 
AndrewP said:
If someone is on low wages they can get a savings account where you get 50% bonus.

It might actually keep up with inflation.
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You need to be on UC to qualify for that one. And it's a maximum of £50 a month for 2 years you're allowed to save.
 
SAFC_Jack said:
I bought my house four years ago, it’s not hugely different now and it’s amazing what you can reduce and what I can save.
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Prices have gone right to in the last year mind.
42 said:
You need to be on UC to qualify for that one. And it's a maximum of £50 a month for 2 years you're allowed to save.
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Canny free money though. That's more than you'll earn on £40k in Marcus.
 
AndrewP said:
I know a lad who used to do that whole looking after the student accommodation thing. Canny money for nowt really.
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Yeah, was easy as pie. One or two hairy moments involving students in mental health crisis, and one incident where the police had to be involved because of an incident that went to court as GBH by an exchange student from abroad. But in all honesty most of it was rewarding, and I had a roof over my head with no bills or CT for two years.

Was mostly just walking into parties and unplugging the sound system then seeing how irate they got :lol:

My flat mate doing the same job was sound as fuck as well.
 
Batdad said:
Few posters on this thread with their head up their arse. Average housing costs have massively outstripped average wages since the 70s/80s so its not exactly a simple matter of stopping in or cutting back on the avocado toast.
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What else do you suggest then Martin?
Hes asking for advice to save. There's no easy answer, that's for sure. But he could be running around in a 400 a month car, 80 a month phone, out every Friday or Saturday, 100 a night. Some people have no grasp on what's luxuries and what's necessary. I'm not for a minute saying that's the case with him mind.
 
Write down a full statement of affairs ,
Incomings and outgoings and look at exactly where you can cut down on costs as a starting point

is there stuff you can sell ?

if you have a car can you consider downgrading it for a while

paying utilities , phones etc switch if possible

cashback for switching banks

cashback sites like Quidco /
Top cashback

when I bought my first house I actually took a bank loan out for an imaginary car to pay the deposit
 
maghater said:
Wow and inflation is 4.2%. Base rate set for a hike, dearer mortgages, house prices to stall, or retreat, think i will stick to renting, gives you loads more flexibility.
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Aye, rents never go up like. It might be a smart move at the moment, or might not be
Nookie Bear said:
when I bought my first house I actually took a bank loan out for an imaginary car to pay the deposit
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If in doubt, commit fraud. 🤣🤣
bennett83 said:
If you can't/wont save but can afford a loan, would it not be a good idea to get a loan?
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You can't get a loan for a house deposit.
 
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