Property News · January 29, 2018

Can you really save for a deposit by ditching coffee and avocado toast? I tried to find out​


For many young people, cutting back on little luxuries will not make property ownership a reality. But what can a spending diary – and advice from Britain’s most famous money-saving expert – reveal about one millennial renter’s life choices?At 26 years and 10 months old, I am squarely a millennial. I have had four jobs in five years. I am flummoxed by fabric softener. I sometimes take my phone into the bathroom. And I doubt I will ever own my own home. Not because I want to rent for ever – I want too many dogs for that – but because, like so many people my age, I can’t imagine being able to afford it.House prices have grown faster than rents and incomes, moving far beyond what is considered affordable, especially for twentysomethings. The only people my age I know who have bought a house have done so outside London, as part of a couple, with help from their parents or all three. But you wouldn’t know that from the commentators who argue that a deposit would be within the grasp of all millennials – if only we would cut back on takeaway coffee and avocado toast. Continue reading…

Source : theguardian.com
Read more…Can you really save for a deposit by ditching coffee and avocado toast? I tried to find out​

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