Financial Reboot

3 08 2013

Financial Reboot

Two days ago I had a serious knockback with regards my savings. I was left feeling physically sick when I realised that the savings I thought were building up had not actually increased since February. This meant that my total balance was at least £2000 less than I had thought.

I have been licking my wounds since this discovery but it has forced me to reassess my position and factor in some new information.

I have found my dream development. The cost of a property is close to what I was looking at anyway but in a great area with a real sense of community. Even though family homes are being built there, the properties are mainly being snapped up by young professional couples like us so I imagine in 5 years or so this area will be occupied by young families.

The lovely lady who showed us around was able to give me very specific details of the additional costs outside of the deposit itself. I have crunched the numbers and worked out the revised total that we will actually need to acquire one of these properties for ourselves when the new blocks are released next year.

I am aiming to save 5% of the total each month which would mean that we could buy twelve months from now but I will try each month to commit to more. But at least for now I have something to aim for.

Hopefully 2014 will be our year.

I have restarted my table and will update it each month based on the revised figures.

PROGRESS TOWARDS RAISING A HOUSE DESPOSIT

DATE

% OF DEPOSIT SAVED

ESTIMATED MONTHS TILL PURCHASE

AUGUST 2013

41%

12 – August 2014

SEPTEMBER 2013

OCTOBER 2013

NOVEMBER 2013

DECEMBER 2013

 

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