How to save for a home deposit quicker, when spending so much on rent and bills? (1 Post)

Is that before or after allowing for rent, travel, food? It's a different game of your parents are providing room and board. 50% of income is gone on the 3/4 basics.

Like I said, I started doing it at 15 so didn't have many out goings apart from new Xbox games:)

It would be hard doing that today but it worked for me. Saved my first deposit that way.

You've just got to save as much as you can.
 
have you considered leaving London? You might take a salary hit but the cost of living can be dramatically reduced without moving to the middle of nowhere thus allowing you to achieve your goals much more easily and in a reduced time frame. London Rent combined with London property prices makes your task ridiculously hard!
 
Unless the possibility of a 6 figure salary is in your future profession by the time you are 30-35 then you need to LEAVE London.

Join a Library, kiss your days of going out spending money goodbye, budget £20 a week for food (I.e One whole chicken = 5 meals + good stock for Soup lunches for example) 2 to 3 years of a sacrifice and you will have enough for a deposit.

But you could also blame the older generations as they never had to work for stuff apparently.
 
we literally cut everything, no holidays, going out, take aways, cut the food shop down.

Didn't buy anything and didn't replace unless something broke.

we set up a budget and put the money into our savings when we got paid so we couldn't spend it and not at the end of the month when it is easy to pinch from.

It will be hard but if you want it you will make it happen.
 
Thanks everyone, and I apologise for the delay in response.

All great advise that I have taken on board.

*removed-subtle advertising*
 
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