A young couple from Tunbridge Wells, Kent, have saved £30,000 towards their first home by making significant lifestyle sacrifices. Luree "Lu" Lento, 20, and Alex Wakely, 19, plan to purchase a £300,000 Victorian terrace in a neighbouring village by late 2027. They have already accumulated £29,160 by setting aside at least 40 per cent of their monthly earnings.
Savings Strategy
The couple targets £40,000 by the end of 2027, putting away at least £1,600 each month. They need an additional £10,840, which should take just seven months, but they intend to maximise savings for as long as possible. Their plan is to use £30,000 for a deposit and keep the remainder for legal costs, home improvements, and unexpected expenses.
With a combined annual income of £54,000, the pair attribute their success to careful budgeting, treating savings like a mandatory monthly expense, and making compromises such as skipping pub visits, cutting out snacks, and stopping clothes purchases.
Daily Sacrifices
Lu, completing a degree apprenticeship in marketing, said: "The biggest thing is being completely aware of your outgoings. You have to sit down and properly work out how much you spend on food, coffees, snacks, subscriptions and little impulse purchases because it all adds up without you realising."
Alex, an estate agent working on commission, added: "When your income varies, you have to know what percentage of your wage you're going to save. I usually try and stick to around 40 per cent, but if I've had a really good month I try to push it closer to 50 per cent."
The couple have become more deliberate with their finances rather than splurging on nights out and holidays. Alex said: "We've had people say we're too young and should be travelling more or going out all the time. But this is what we genuinely want. We'd rather make sacrifices now and enjoy the benefits later."
Financial Breakdown
- Current combined savings: £29,160
- Monthly savings: £1,600 combined
- Savings target: £40,000
- Planned deposit: £30,000
- Lu's monthly take-home pay: £1,672
- Alex's monthly take-home pay (without commission): Approximately £2,100
Their savings are spread across a Moneybox Lifetime ISA, a Chip cash ISA, and a Trading 212 stocks and shares ISA. Lu's Moneybox LISA holds £7,704.10, while Alex's stands at £9,046.70. Both have contributed £4,000 this year to their LISAs, earning a £1,000 government bonus each.
Neither chose to attend university, allowing them to earn immediately without student debt. Lu said: "I'm doing a degree apprenticeship so I'm earning while learning, and Alex went straight into work. We don't have student debt and we've been able to save from a really young age because of that."
Top Saving Tips
- Track every outgoing to understand where your money is really going
- Set a realistic monthly savings target and treat it like a bill
- Cut down on small impulse purchases like coffees, snacks and lunches out
- Use high-interest savings accounts and ISAs
- Save consistently, even if it's only £100 a month
- Decide on long-term goals before spending on short-term wants
- Avoid lifestyle inflation when earning more money
- Be intentional with spending instead of buying things out of habit
- If possible, save while living with family to reduce costs
- Start investing and saving early to benefit from long-term growth
The couple are open to buying a property needing renovation and hope to find a two-bedroom Victorian terrace with a small garden. Lu said: "We don't mind doing work ourselves. Our families are really supportive and handy with DIY, so we'd rather buy somewhere we can improve over time."
Despite some criticism online, the pair remain focused on their long-term goal. Lu concluded: "There's this idea now that you have to constantly spend money to enjoy yourself, but that's not really us. At the end of the day, everyone's priorities are different - and this is ours."
