How to save £3,000 without really trying

If you’re saving for a house but it feels like it’ll never happen, there are a few things you can do to help you save more.

Saying goodbye to old habits and doing without a few home comforts for a while could boost your cash by £3,000 a year. Multiply that by five, and you’re £15,000 closer to your deposit.

Save £624 per year save £624 a year

Costly coffee

Is a caffeine rush slowing down your savings? Avoid splashing out on franchise coffee every day and save yourself some cash.

The maths: assuming that the cost of a flat white primo is £2.40, at five coffees a week that’s costing you £12, and over 52 weeks that’s £624 a year that could be going towards your deposit.

Save £408 per year save £408 a year

The vaper rub

Is your money evaporating right in front of your eyes? It could be if you vape.

The maths: assuming e-liquid and replacement parts for vapers cost approximately £8.50 per week, this could amount to £34 per month, which is £408 per year going up in smoke.

Save £287.76 per year save £287 a year

Takeaway torment

Those two pizzas a month might seem harmless now, but they’re eating into your dough.

The maths: assuming that a medium pizza costs around £11.99, at two a month that’s £23.98, which adds up even faster than the calories to £287.76 a year.

Save £720 per year save £720 a year

Last orders

Liquid lunches and nights in with a bottle of wine can seriously drain your resources.

The maths: even if you only spend £15 a week on a tipple, it adds up to £60 a month, which is £720 every year – a sobering thought when it comes to your savings.

Save £828 per year save £828 a year

Lunchtime meal-deal breaker

When a lunchtime habit starts eating into your earnings, it might be time to make your own sandwiches.

The maths: if we assume a supermarket sandwich costs around £2, a bag of crisps is 65p and a can of pop another 80p, that’s £3.45 a day. At five days a week that’s £17.25, or £69 a month, which comes to £828 per year.

Save £168 per year save £168 a year

A sticky subject

It might keep your breath minty fresh, but the cost of chewing gum can really build up over time.

The maths: assuming one pack of gum costs approximately 50p, if you buy one every day, that’s £3.50 per week, which is £14 per month and £168 per year that’d be better off in your account.

Save £80 per year save £80 a year

Boxset binging

If Breaking Bad is breaking the bank, have you considered your subscription to extra TV services?

The maths: cancelling just one subscription could boost your deposit by around £80 a year.

TOTAL SAVINGS (APPROX) = £3,000 per year.

And there you have it. Cutting back on a few non-essentials could make a huge difference to your deposit and potentially get you on the property ladder even sooner than you expected.

Try our savings calculator

If you've had a look at our range of savings accounts and have one in mind, use this calculator to see how much sooner you could be moving into your first home if you saved an extra £3,000 a year.

You will need to fill in all fields to generate a calculation.

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