Saturday, 20 December 2014

Happily Ever After

It can be tough saving up the money for a deposit to buy a house, whether it’s your first step onto the property ladder or the forever home you’re yearning after.  You have to scrimp and save each pound and try to find the required sum of money that often seems completely unobtainable at times!

If your renting it’s a good idea to check TSB’s mortgage repayment calculator to see if owning your own home will work out cheaper.  It might not always be the case but for me I think it’s a sensible investment for the future regardless.

We had to make sacrifices to save up our deposit, socialising and nights out were very rare and luxuries unheard of.  We kept a tight reign on our household budget only spending money on essentials (food and bills) and it was rewarding seeing the savings slowly build up.

It’s easy to lose track of some purchases like presents or remembering how much your current borrowing is costing you.  We have a spreadsheet with all our expenses listed and I regularly check it to see if I can make any savings.  We shop around for insurance products and when contracts are close to running out negotiate better deals.

It’s worth keeping an eye on energy prices and see if it’s in your interests to switch provider.  Hubbie is a fan of Quidco, so we get cashback on most of our online purchases and we are quite happy using own branded products at the supermarket if it means we have more money to squirrel away.

Hubbie has had to learn to do lots of DIY, paying out for home maintenance can be very expensive but the more you can do yourself the better!  Plus he has got more skilled as time has gone on, its amazing what you can learn just watching video's on YouTube, although he does get a bit dusty bless him!

I think having a budget is the best way to analyse if your spending more than you earn.  It’s easy to get carried away at certain times of year especially Christmas but if you know that you only have so much to spend it keeps you on the straight and narrow and hopefully away from the shops!

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