Tag Archives: cost of living

3 types of home deposit savers

In my view, there are 3 main types of deposit savers, each with their own benefits and flaws. It is easy (sometimes) to move between each type, I have for instance, been all 3 types at one stage or another.

Type 1: Living with Parents


  • Cheap (sometimes zero cost)
  • Reduced food cost
  • Rent (if any) usually includes bills such as electricity, gas and internet
  • Easy to rely on parents for meals and other things


  • Conflicts can happen (nearly every family argues at one stage or another)
  • Lack of independence and privacy – no one wants to bring a partner back to their parents 😉
  • Dont learn how to rely on yourself – life experience

I haven’t lived with my parents for about 6 years now, I don’t think I really appreciated it when I did and I wish I could work closer to home  so that I could temporarily stay with them.

Type 2: Living in a shared Flat / House


  • Cheaper than renting an entire flat
  • Can share with friends for an awesome time
  • Meet new like minded people
  • Easy to car share to shops etc


  • Personality conflicts
  • Lack of privacy again
  • Can break apart friendships

Throughout university I lived with 4 different groups of people, some I got on really well with and they became buddies, others I dreaded seeing and would go out of my way to avoid (I’m sure they did as well). Also, washing up dishes is ALWAYS an issue.

Type 3: Living alone (or with Partner)


  • You can keep the place as clean / dirty as you want
  • Privacy
  • No personality clash issues


  • Cost of full rent
  • Cost of Utilities
  • Can be lonely (if by yourself)

This is my current situation, me and my girlfriend rent a flat together. Although it costs more to rent the flat outright, we value our privacy and so are willing to pay the extra.


You will know yourself what situation you’re willing to live in order to save up for a deposit as quickly as possible. There are people who cannot stand living with their parents and so are willing to pay the extra just to have more ‘freedom’

For myself, I don’t mind where I would live. There are benefits to all scenarios and also drawbacks, but if you are looking to save for a deposit as soon as possible, I have ranked the locations in order of cost:

  1. Living with parents
  2. Renting a property with others
  3. Renting alone