Put it all in a spreadsheet or budgeting app
To set yourself a realistic saving goal input your income and outgoings into a spreadsheet so you can clearly see exactly what you have left over after bills.
From here, review your spending habits and identify subscriptions or services that you can pause whilst you commit to saving for your house deposit.
Set aside a budget for birthdays or celebrations as well as weekly food shops, fuel and clothes.
If a spreadsheet isn’t for you, consider downloading a budgeting app on your phone. A budgeting app can help provide a full picture of your finances by monitoring your spending and categorising transactions to see where you could rein back. Some also send notifications when you are close to reaching your spending limit. The Times Money Mentor have reviewed and summarised some of the top budgeting apps here – take a look!
Once you’ve reviewed and budgeted your outgoings you should be able to see what you can realistically save. Agree an amount and stick to it – discipline is key!