You might think that it is impossible to get onto the housing ladder whilst renting, but it really isn’t! There are a number of things you can do which will make it much easier for you to save money towards your deposit. Firstly, make sure you only ever pay rent and living expenses out of one account [if possible]. This means that when you get paid, the majority of your money is saved straight away. You should set up a standing order for the exact amount of rent to be put in every month, and pay all other bills out of this account. It’s also important to live somewhere cheap; make sure it isn’t too far from where you work or socialise, or you could find yourself paying a lot in transport costs. It’s also a good idea to live somewhere which you can have pets, because landlords will be much less likely to accept your tenancy application if you’re looking for a property which prohibits them. If you do have pets and are looking to move into a pet-friendly place then try not to mention it on the rental application as this will also impact your chances of being accepted as a tenant.
When it comes to saving money towards the deposit, make sure you don’t spend all of your money going out with friends or buying new clothes! Try and save as much as possible, but make sure that you make the most of your social life too – enjoy yourself without spending too much money!