Here are some top tips to help start you on your campaign to turn your pennies into pounds and secure a deposit for your first home:

• Even if you aren’t sure how much you will ultimately need, it’s never too early to start saving.
• A deposit can seem daunting, but break it down into a monthly plan.
• Review your finances. Start the saving process by reviewing your previous month's expenditure. This will highlight some of the surprising things you spend your money on.
• Using your analysis from last month, create a budget. As well as fixed monthly costs, such as bills, you’re likely to have been surprised by how much you spend on small items.
• Be realistic and don’t overestimate the amount you can set aside each month. An ambitious figure you can’t meet may leave you feeling disappointed. Settle on a figure and, if you have a good month, you can always save a little more. 
• The right savings account can make all the difference. Research interest rates available. Saving for a deposit is a long-term goal, so good interest rates and an account which doesn’t allow you instant access will protect your savings.
• Remember that a savings account is not for life: periodically assess whether moving your savings could be more beneficial to you.
• Create a Standing Order or Direct Debit to transfer your money straight into your savings account. This will stop you from thinking, hesitating or reallocating those funds – however unintentional.
• Get your family and friends on side and ask them for support. Actively seek cheaper midweek deals to meet with friends and swap dinners out for a meal in.
• The first few months are your best because you’re focused and dedicated. After a couple of months, and then periodically, reassess your savings and the plan. 
• So long as you’re meeting your minimum savings amount, you could allocate a month to give yourself a break, your birthday month, for example.

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