How to save A DEPOSIT

There are easy steps you can take to stay on track to make home ownership a reality

- SOPHIE VENING AND STEPHANIE DURRANT

Saving enough money to be able to own your own home can seem daunting. Living costs are rising and higher house prices make it ever tougher to get on the property ladder. But don’t despair – this is not an impossible dream.

Reduce daily spending

Making small changes to your day-to-day outgoings can really add up over time. Take a look at your monthly spending habits. Write down what you have coming in and what goes out of your account each month. Then identify the areas you can cut back on.

Sign up for a budgeting app

A good way of keeping on top of your income and spending habits is to use a budgeting app. Every app is different, but they all help you to manage your money by syncing up with your bank and credit card accounts to help you keep a track of your spending.

Change your current living arrangements