Saving tips and tricks... deposit for house

[aspiringnurse]

Looking for some advice regarding savings and tips you have for doing so..

Me and my partner with 1yo DS have just moved back into my parents house to save for house deposit (live in North East - Gateshead specifically) so house prices can be high depending where you go.. ideally hoping for around a £8k to £10k deposit but I know the amount for first time buyer only has to be 5% (hoping to get a lot more than that to put us in good stead)..

Anyways.. apart from paying out for board money (£250) and any personal bills (EE contract, partners CC, my loan and overdraft) around another £400 all together so £650 coming off wages..
My partner gets around £1300 after tax and NI and myself £550 after taxes etc. (Don’t pay for any childcare).. we can put away a lot to save and still have a small amount left over for family days out and to get food shopping.

DS has child benefit £82 a month we use for nappies, wipes and any clothing essentials he needs.

What other tips and advice do you all have to cut down any unnecessary costs?
Both our phone contracts are up in July and plan on moving to sim only, we don’t smoke or drink and car is already paid for including insurance which I paid for at the start of the year.

In regards to Xmas we don’t buy for each other, don’t spend a lot on DS due to having large family he ends up with a lot and we do a secret Santa amongst the family (babies and children are not included in it) as the costs would be huge getting everyone presents..

Thank you for any advice you have :)

We also have a help to buy ISA and savings account already.

If you don't already, go on Martin Lewis's website www.moneysavingexpert.com/
and subscribe to his newsletter. I usually just scan the email to see if there is anything relevant but this week there was Nectar points double up in it which I didn't know about so I have now doubled the value of my points i.e doubled my money 👍 Make sure you have all the points cards for shops and use your points - for Tesco clubcard I save my points until December / January then use them for food shopping when money is scare due to Christmas.

Also make sure you have a small change dumping jar, I take ours to the Coinstar when it is full and use it for food shopping

If you have that much spare can you not clear loan and overdraft as a priority before saving?

Credit card and overdraft that should have said. I assume loan is contracted in.

I would be clearing those debts first. Aside from the interest you are paying, it won't help when you get a mortgage, let alone if you're going for a 95% loan to value.
Is there any other work either of you can take on? I worked for Lionbridge to help save for our deposit. It's completely legitimate work from home, so no childcare to worry about.

The biggest thing you can do is increase your earning potential and get better paid jobs, use your skills and say how they are transferable to higher roles and go for them. There are loads of self help books about this. I know it's not easy but it's the best way to make yourselves more comfortable (rather than tips to par back and save).

Agree with PPs you really need to pay off your CCs, loans and overdraft before you can start saving, otherwise you'll be paying needless interest and be able to borrow less when it comes to your mortgage.

Good luck

Have you tried using an energy switcher like Look After My Bills or Switchcraft? They can help reducing your energy bill

Where do you do your weekly shop? Could you try switching to Lidl or Aldi if you don't already shop there. Even if you just go there for your fruit and veg you'll save a ton

I've just started a FB page where I've been sharing deals and stuff so maybe if you wanted to join you could? Migt see some good Xmas presents or whatever. It's not that good at the moment but hopng it will get better
www.facebook.com/groups/earnmoney

Can you do anything outside of your day jobs to earn some money on the side? Are you any good at baking, I've seen a few of those dessert delivery services on Facebook, where you make a load of yummy cakes and stuff and people pay you to drop them off at their houses. You could do that int he evenings? Or make sweet hampers/ do some DIY home stuff for people? Have a look on Pinterest,t here will be loads of there and people in FB groups like Facebay love that

www.facebook.com/groups/earnmoneyuk/

I wrote the wrong thing haha