Camping with the Mediocre Dad

Camping tips, tricks and advice from a fairly average parent and a reformed dad blogger

Menu
  • Home
  • About
  • Camping
  • Family Days Out
  • Sponsorship
  • Twitter
  • Instagram
  • Why celebrate mediocrity?
Menu

Guest Post – 5 saving tips for your first home

Posted on May 22, 2016January 7, 2018 by Henry Elliss

According to latest figures from Nationwide Building Society, getting on the housing ladder is extremely hard with those lucky enough to qualify for a 95 per cent mortgage still needing to find around £18,000 to buy in London, £11,000 to secure a home in the South East, £6,000 in the North and £7,000 in Wales and Scotland.

While there are many mortgage lenders and companies such as www.carcashpoint.co.uk who will do all they can to give your finances a boost, gathering enough funds to put down that initial deposit is far from easy – so here are five crucial saving tips to help you out.

  1. Take a look at your finances and make cutbacks
    It sounds obvious, but reducing the amount you spend each month should make a significant different to your bank balance. We are all guilty of buying things on a whim or having a takeaway we don’t really need, but in order to achieve your goals you must be as ruthless as possible and hang onto every penny you can.
  2. Cancel standing orders you don’t need
    When making cutbacks, it’s a good idea to take a look at your bank transactions and to cancel any standing orders or Direct Debits you don’t need. Believe it or not, many people are losing money each month on account fees that could be eliminated with a phone call or two, while others have simply forgotten to cancel gym, film club or magazine subscriptions.

When you’ve got a decent wage going into your account, a Netflix subscription or animal sponsorship might not seem like a big deal, but if you are trying to gather funds, you’ll need to cut back on luxuries for a while – at least until you’ve achieved what you set out to do.

  1. Set a budget and stick to it
    Once you know your finances inside and out, you can then set a realistic budget – and stick to it. Knowing exactly what you have to spend each day, week, or month, will not only keep you on track but it’ll make it easier than ever to reach certain financial targets within a set amount of time. There are even budgeting apps available these days which will help track your progress and monitor your accounts, so there’s no excuse for letting your finances spiral out of control.
  2. Make the most of cash Isas
    Believe it or not, with an ordinary savings account £2 in every £10 you earn in interest disappears to the tax man – £4 if you’re a higher-rate taxpayer. This is a significant sum to lose, so why not hold onto your hard-earned cash by depositing it into a cash Isa instead? The tax-free Isa limit has now increased to £15,240 for the £2015-2016 tax year allowing those saving for a new property to keep their money safe without it disappearing from under their nose.
  3. Move in with family/slash your rent
    If you want to save for a deposit relatively quickly, it’s important to reduce your living costs as much as possible – and this means either finding somewhere cheap to rent for the time being, or moving in with family rent-free (or almost free), if they will have you. Of course, not everyone has the option of moving in with relatives without being charged (or wants to, for that matter), but if you have the choice, residing with relatives for a short time could help boost your funds.

Saving for your first home is not always easy but the above five tips will certainly help you to get some money behind you.

Share this:

  • Twitter
  • Facebook
  • Reddit
  • Pinterest
  • Email
  • WhatsApp
  • Print

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

henweb

henweb

Pun-loving, 👨‍👦‍👦 dad-blogging, 📷 photo-taking, 🏰 Lego-making, 🎅🏿 beard-wearing, 👶 child-caring dad of 2. 💍 Husband of 1. 💩 Strategist

View Full Profile →

Instagram Gallery

A few photos from my slightly hair-raising morning A few photos from my slightly hair-raising morning walk. Some lovely sunrises, lots of ice on the canal and a couple of rivers and lakes that were quickly merging together, at the expense of the newly-laid track. At least my wellies stayed strong!
Instagram post 18021846115464989 Instagram post 18021846115464989
A photo from my Thursday morning walk. One good th A photo from my Thursday morning walk. One good thing to come from this week’s rail strikes (and the subsequent week WFH) was my daily sunrise walks - something I really miss when I have to go into London. Fingers crossed that 2023 allows for a few more of them.
Merry Christmas, instagram family and friends. Ple Merry Christmas, instagram family and friends. Please enjoy this photo of our beautiful but low-key Christmas decorations, hung in the splendor of our delightful Tudor home.
Good morning from Somerset #NoFilter Good morning from Somerset #NoFilter
Lovely moonrise this morning 😍 Lovely moonrise this morning 😍
Load More… Follow on Instagram

A little ad for some stuff




Subscribe by RSS

RSS Feed RSS – Posts

Recent posts

  • 5 Tips to Make Family Travel Easier December 2, 2022
  • 5 Great Camping Blogs You Should Follow August 18, 2022
  • Summer Holidays in the Mountains? 4 Reasons Why You Should Go for it! June 7, 2022
  • Family Camping for Beginners – A Guide to Buying a New Tent May 31, 2022
  • The Best New Beauty Treatments to Prepare for Summer May 31, 2022

A bigger ad for some stuff

Recent Comments

  • Family Camping for Beginners - The Ultimate Guide for first time campers | Camping with the Mediocre Dad on Family Camping for beginners – Food, glorious food
  • Tiana on Fatherhood²: The Ultimate Octonauts Quiz
  • The best camping gadgets for your next trip with the family | The Mediocre Dad on Family Camping for Beginners – The Ultimate Guide for first time campers
  • Dynamite dad blogs | Samuel Windsor on Family Camping for Beginners – The Ultimate Guide for first time campers
  • Family Camping for Beginners - The Ultimate Guide for first time campers | The Mediocre Dad on Family Camping for beginners – Camping with Babies & Toddlers

My Brimpton Village history website

My Mastodon profile

© 2023 Camping with the Mediocre Dad | Powered by Minimalist Blog WordPress Theme
Find me on Mastodon