Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Saving for a deposit. Tips?

27 replies

BareFacedKitty · 20/12/2016 17:20

Desperately trying to save for a house deposit - I'm in the good position of having a high(ish) income compared to my outgoings but I never seem to be see much progress in my savings account. Christmas has made a bit of a dent.

I know the obvious stuff like cutting out holidays and major spends, I don't buy clothes very often etc. anyway. Maybe it's just a case of being uber strict?

Anyone have any advice for how to see the pennies adding up to pounds?

OP posts:
delilahbucket · 03/01/2017 18:13

Make sure money you already have is working hard in the meantime. For example, you're getting the highest interest rate, utilising cash back credit cards and using sites like Quidco for your online purchases, a cashback bank account? The bank account does depend on how soon you want to be taking out a mortgage though as a long standing relationship with your bank makes you more appealing to lenders.

tonymac84 · 04/01/2017 16:31

@BareFacedKitty We've each opened a help to buy ISA. £1,200 max deposit in first month and £200 per month thereafter, per account. Gets you 25% extra when you come to make a deposit, so £4,000 saved will become £5,000 deposit, etc. Also been using matchedbets.com to bring in an additional £500 per month which is a big help.

New posts on this thread. Refresh page
Swipe left for the next trending thread