Sunday, February 17, 2019

How We're Saving for Our Mortgage Deposit ♥

A little cottage of dreams

I'm now at a stage in life where I really want to find our forever home. I am so sick of renting, I can't even express how sick of it I am. It's something which causes me a great deal of anxiety, upset and panic and I hate that I live in a home where the majority of the furniture is not my own, the place is not decorated as I would like and that the landlords can pull the rug and security from under you whenever they so wish.

We have been trying to save for a mortgage deposit like crazy, but paying €1000 in rent a month is making it impossible and it kills me that we're paying for someone else's mortgage instead of our own. However, this is the reality of being a twenty-something in Ireland in 2019.

Our lease is up on our current home in August next year and I am desperately hoping that our next move will be into our forever home. One things for certain, when we do move, I'll be hiring moving companies instead of piling up the cars full of our things and making multiple trips - the stress! Furniture removal, now that we've actually bought some of our own pieces, would be so much easier with a big van to be able to load everything in to.

I've seen so many properties on local estate agent sites that I would love to buy and it's so frustrating not having our mortgage deposit saved up yet. I know we'll get there in the end and hopefully 2019 will be the year that we finally save enough to be able to buy or own home and have the security of a permanent roof over our head for our family.

I dream of having a little house in the country with a large garden for the boys and already have a 'dream drawer' full of ideas on how to decorate it.

Saving isn't easy, especially with two children in tow, but this is how we're saving for our mortgage deposit -

1. Stop spending on the credit card
There's a new rule in our house and that's if you don't have the money in your pocket or in your bank then you can't buy something. If I could I've cut up the credit card but my other half refuses to in case of emergencies. I want nothing put on the credit card for the foreseeable future and want the money that usually goes on paying it back and interest to be put into our mortgage fund.

2. Only food shop once a week
Food is where the majority of our money goes. Unnecessary trips to the shop to get things we don't really need because we think it's a good deal - it's not a good deal if you're spending money that you don't really need to. This has to stop.

3. Selling things we don't need
We have so much stuff and not a whole lot of use for the majority of it, so I've begun selling things we no longer need that are in great condition. I've already made of €100 selling some of Beau's old baby clothes and the next things to go are the baby products we won't be needing - I refuse to have another child in a rented property. The money from sales goes into our mortgage fund.

4. Spending ban
I don't shop too often for myself but am always buying gorgeous outfits for the boys, but they don't really get the wear out of them because they're too 'special'. This is something I've had to stop in 2019 because when I see all these gorgeous outfits being wasted my money has been wasted too and they're not cheap!

5. Overtime
It's such a simple way to make money but Jacek does a ton of overtime. This extra money is essential for us and will be going into our mortgage fund to try and build it up quickly. Yes, it's time apart, but it'll be so worth it when we're able to call a house our own.

6. Free or cheap days out
As a family we love having days out and spending time together outdoors, but these days out can be expensive, so I've been on the lookout for free or very cheap days out that we can enjoy together. This will save us money but won't compromise on our adventures. We also pack picnics for these days out too to avoid spending money on food when we're out and about - why pay more when we have enough at home to take with us?

I will no doubt add to this list when I come up with more tips and tricks to save money and hopefully this time next year we'll be in a position to apply for a mortgage and hopefully start the process of finding our forever home.

Please keep your fingers firmly crossed for us!

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