Discover a Savings Method That Works for You
Finding a savings method that suits your lifestyle can make it easier to tuck away cash. Just ask first-time buyer Lauren May, who used a clever "last-digit" savings trick to save up the £16,000 deposit for her £320,000 home.
The Last-Digit Savings Hack
Lauren's savings method, also known as the "last number standing," is simple yet effective. At the end of each day, she checked her bank balance and added the last digit to her savings account. This easy trick helped her save an extra £100 per month towards her deposit.
Money-Saving Challenges for Every Budget
While Lauren's trick may not work for everyone, there are other money-saving challenges suited to all budgets. From the 1p savings challenge to the 52-week challenge, these schemes help make saving money more manageable.
Consider a Savings Account for Better Returns
While it may seem easier to stash small amounts of cash, it's important to consider the benefits of a savings account. By keeping your savings stored in a savings account, you can earn interest on your money and watch it grow over time.
How Lauren Used Help to Buy Schemes
Lauren also took advantage of the Help to Buy Isa and the Help to Buy equity loan scheme to help her get on the property ladder. Although these specific schemes have come to an end, there are still other first-time buyer schemes available.
From Saver to Homeowner: Lauren's Journey
We sat down with Lauren to discuss how she went from being a saver to a homeowner. She shares insights into her house, the location, the cost, and how she saved for it. Plus, she offers advice for other first-time buyers.
Start Saving and Make Your Homeownership Dreams a Reality
If you're dreaming of owning a home, start saving as soon as you can. While it may require sacrifices, the long-term goal is worth it. Your own home can be a place of solace and happiness, just like Lauren's.
