Use an app to be a happy saver
In the modern era, most of us are connected to our phones for most of the day. This is why it makes sense to utilise these devices to help you to save money or to be more aware of your spending. There is a broad range of apps available which track your spending, which encourage you to save and overall provide you with a focused approach to putting money aside to save for a deposit. You can create goals per day, per week, per month or per year which gives you something to aim for, tapping into a competitive spirit, which will hopefully help you to save more effectively.
People are more than happy to use apps to help with their fitness and apps can be used to positively impact on your finances too.
Consider the Help To Buy schemes
The government backed Help To Buy schemes can provide you with assistance in saving for a deposit. If you utilise the ISA scheme, you can earn up to £3,000 in a bonus which can be used to save money at the time of buying a home. This is a bonus per person, not per household, so if you are buying a home with a partner, you can both benefit from the scheme, providing you with the chance to earn a bonus of up to £6,000.
You should look to take every advantage that you can and this is why you are advised to at least consider the Help To Buy schemes and see if it makes sense for you.
When it comes to saving money, speak to experts who can provide you with a tailored approach. It is easy to create an internet based list that tells you how to go about saving money for a deposit, but the generic tips may not be right for you. Clearly you should be looking to manage your credit, pay down debts, have a clear budget and have a goal in mind but around these points, you may need support that is tailored to your exact needs and requirements.
At Austin Property Services, we aim to help you find your place on the property ladder and if you need guidance or advice, please get in touch.