A young couple aged 19 and 20 from Tunbridge Wells, Kent, are on track to purchase their first home next year after accumulating nearly £30,000 in savings. Luree 'Lu' Lento, 20, and Alex Wakely, 19, have set their sights on a £300,000 Victorian terrace house in a nearby village, with plans to complete the purchase by the end of 2027.
How They Saved £29,160
The couple, who have been together since their teenage years, have saved approximately £29,160 by consistently putting away at least 40% of their monthly salaries. Their goal is to reach £40,000 by the end of 2027, which requires saving a minimum of £1,600 per month. They need an additional £10,840 to hit their target, which they expect to achieve within seven months. However, they intend to continue saving for as long as possible. Of the total, £30,000 will be used as a deposit, with the remainder allocated for solicitor fees, renovations, and emergency funds.
Budgeting Strategies and Sacrifices
The pair earn a combined annual income of £54,000. Their success, they say, stems from meticulous budgeting, treating their savings pot like a non-negotiable monthly bill, and making sacrifices such as avoiding pub outings, cutting back on snacks, and refraining from clothes shopping. Lu, who is completing a degree apprenticeship in marketing, emphasised the importance of awareness: '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. Once you actually know where your money is going, you can decide realistically what you can afford to save every month.'
Income and Expenditure Breakdown
Alex earns £2,100 per month plus commission. He pays £500 in rent while living at a family friend's property, and his other outgoings total £1,060. Lu lives with her parents rent-free and spends £480 monthly on her car, nails, and gym from her £1,672 salary. Together, they save around £1,600 each month, with each aiming to put away roughly £800 into their joint savings pot. This disciplined approach allows them to accumulate the additional funds needed, provided they maintain the same savings rate.
Mindset and Sacrifices
Alex, who works as an estate agent on commission, noted the importance of prioritising savings: '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. You have to treat savings as the priority instead of just saving whatever you have left at the end.' Lu added: 'People our age don’t always want to make sacrifices. I love clothes and shopping, don't get me wrong. However, nowadays I think about whether I’d rather buy something random or put that money towards our future. If you want to buy young, there are things you do have to cut back on.'
Challenges of Small Daily Purchases
The couple identified small everyday purchases as one of the hardest habits to break. Alex explained: 'It’s the little habits that are difficult to cut - grabbing a coffee, buying lunch out, stopping for snacks when you’re bored. It doesn’t feel expensive at the time but when you add it all together over a month it’s a huge amount of money.' Lu added: 'Even things like going to Pret regularly or buying snacks on your day off can really add up. It’s fine now and then, but if it becomes a habit it makes saving much harder.'
Intentional Spending and Long-Term Goals
Instead of spending heavily on nights out and holidays, the pair have become far more intentional with their money. 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.'
Advantages of Starting Young
The couple believe starting early has been crucial to their savings success. Both had been saving individually before they began saving together in January 2025. Neither pursued the traditional university route, enabling them to start earning immediately without accumulating 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.'
Savings Accounts and Investments
Their savings are split among a Moneybox Lifetime ISA, a Chip cash ISA, and a Trading 212 stocks and shares ISA. Lu's Moneybox LISA contains £7,704.10, and Alex has £9,046.70. They have each added £4,000 this year to their LISAs, qualifying for a £1,000 government bonus each. In the Chip cash ISAs, Lu has £10,409.88 and Alex has £2,000. In Trading 212, Alex has £869, which has gained £19 from investing; they plan to use this for long-term savings rather than the house. Lu said: 'The Lifetime ISA has helped us massively because of the government bonus. We also keep money in a Chip cash ISA because it’s easy access and earns interest, and we’re starting to invest a little as well for long-term growth.'
Plans for the Future Home
The couple are happy to buy a property that needs 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 criticism from some online, they 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.'
The Budget at a Glance
- 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
- Main savings accounts: Moneybox Lifetime ISA, Chip Cash ISA, Trading 212 Stocks and Shares ISA
- Lifetime ISA bonus: 25% government bonus on up to £4,000 saved per year
Top Saving Tips from Lu and Alex
- 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 at home to reduce costs
- Start investing and saving early to benefit from long-term growth
