First-Time Buyer Deposit Savings Plan

Who this is for

Build your deposit month by month. Set the target you have chosen, the date you are aiming for and what you plan to put by each month, then record what you actually saved. The sheet keeps a running balance and shows how much is left and how many months that is at your planned rate.

First-time buyers saving for a deposit, alone or as a couple, who want to see whether their saving is keeping pace with the plan they set themselves.

What this helps you track

• The deposit target, target date and starting balance you have set
• What you planned to save each month against what you actually saved
• Which account each month's saving went into
• A running balance of the whole deposit fund
• The amount still to find and the months left at your planned rate

How to use it

1. Write your target deposit, the date you are aiming for, the balance you are starting from and your planned monthly amount at the top.
2. Write the month in each row, starting with the first month of the plan.
3. At the end of each month enter what you actually saved and the account it went into.
4. The running balance, amount remaining, percentage saved and months to target are worked out in the browser and the workbook; on paper, add each month's saving to the balance above.
5. If the months to target no longer fits your target date, change the planned amount or the date and carry on.
6. Use the notes column for anything that explains a month, such as a bonus or an unexpected bill.

Formats

• Printable PDF (A4 and US Letter)
• Fillable PDF with form fields
• Fill in online, saved in your browser
• Excel / Google Sheets workbook

The printable is laid out inside a box that fits both A4 and US Letter, so the two files are identical and neither one is scaled. The fillable PDF has real form fields. The workbook uses plain formulas only — SUM, IF, COUNTIF and the like — so it opens in Excel, LibreOffice and Google Sheets without anything breaking, and every calculated cell is grey so you can see which figures it worked out.

How to print

Download the A4 or US Letter file to match the paper in your printer, open it in a PDF reader and print at 100% — not "fit to page", which shrinks the writing space. Both files leave a 14 mm margin, which clears the unprintable edge on home printers. To print the online version with your entries in it, use the Print this sheet button, which prints only the sheet and none of the page around it. More on printing.

Questions

How much deposit should I aim for?

That depends on the price range you are looking at and what lenders will offer you. Speak to a lender or broker where you are, then enter the figure you settle on. The sheet does not suggest one.

How are the months to target worked out?

The amount still to save divided by your planned monthly amount, rounded to one decimal place. It assumes you keep saving at the planned rate and ignores any interest, since that depends on your accounts.

Can I include money from family or a savings scheme?

Yes. Enter it in the actual column in the month it arrives, and name the source in the account or notes column. Lenders may ask where deposit money came from, so keep a clear record.

What if we are saving as a couple?

Use one plan for the joint deposit and write whose saving it was in the account or notes column, or keep a copy each and add the balances together.