This is how many pints you’d need to turn down to buy a home
Metro.co.uk - Lifestyle·2020-09-12 14:59
Alcohol? In this economy?! (Picture: Getty Images)
Saving up for your first house is notoriously difficult, and many people find themselves cutting back on certain joys in a bid to get on the property ladder.
If you were thinking that taking fewer trips to the pub would be a good way to save, we’ve got some news for you.
According to new research by UK mortgage advice company First Mortgage, people would have to forego a whopping 5,000 pints on average to save up for a deposit on a house.
The company says the ideal home for first-time buyers has two bedrooms and usually requires a deposit of £26,000.
Assuming the average pint costs £5, then you’d need to turn down around 5,200 pints at the pub to afford a deposit like that.
If you were thinking of cutting back on holidays, you’d need to go without roughly 74 trips, with the average few-day-long city break costing around £350.
Sigh (Picture: PA)
When it comes to what people do to save, a third of those polled ate out less, 32% saved by not going on holiday and 18% went so far as to move back with their parents.
Therefore it’s perhaps unsurprising that 88% of people surveyed said saving for their first home had a huge affect on their daily life.
……Read full article on Metro.co.uk - Lifestyle
Lifestyle International
One-stop lifestyle app dedicated to making life in Singapore a breeze!
Comments
Leave a comment in Nestia App