A 24-year-old shares the exact method she used to save £20,000 in just two years.
Hannah Bevington plans to use her savings to buy her first home, and she said she won’t even have to break the bank to do it.
2
2
Hannah announced on TikTok that she opened an LSIA, a lifetime ISA, in February 2022.
She said the specific ISA she had opened was a stocks and shares ISA, which allowed you to invest £333 per month.
The smart saver explained that the government tops up every deposit by 25%, meaning you receive £83 from the government every month.
“It’s basically free money,” she said.
Read more real life stories
Hannah said she deposited £4,000 into the account in March 2022 and then received £1,000 (an extra 25%) from the government.
Every month after that she paid £333 into the account until she had added £13,318 and the government had added £3,000.
In total she earned £16,318.
“You’re probably wondering where the remaining money is coming from?” she said.
“That’s because of investing in the stock market.”
She explained that her investment is currently up 22.53%, adding that technically she is not only making money from her own savings, but also from the money the government invests in it.
Hannah said: “I’m having a really good year with my investments, but it’s not always certain that every year will be this good.”
She said she wants to encourage people of all ages to start investing because “the earlier you start, the bigger the gains.”
Hannah’s video, which was posted under the username @hannahbevington, has likely left many people in awe, as it has already been viewed 420,000 times on the video platform.
TikTok users rushed to the comments of the video to share their thoughts on Hannah’s tips.
How do you save for your first home?
HAVE you ever wondered how first-time home buyers can go from saver to homeowner?
Getting your foot in the door on the housing market may seem like a daunting task, but The Sun’s ‘My First Home’ section will help you find out what it takes to finally get the keys to your own home.
Leanne Gem managed to buy her £456,000 four-bedroom home with an “underrated plan”.
Karis Jacobs and her husband George used the 50/50 method to buy their first home just two years after losing their jobs.
Parents Chae and Cem took advantage of a ‘DIY Help to Buy’ scheme to purchase their first home worth £466,000.
Anupam and his wife Shrabanti lost £6,000 in cash when they bought their first home. Here’s how to avoid it.
One person said: “I love this!!! Well done”
A second person said, “Good job, honey.”
A third person said, “Once I pay off my credit card debt, I want to start investing and I’m going to go down this route to start.”
A fourth person added: “You did an amazing job, Hannah. Well done.”
Fabulous will pay for your exclusive stories. Simply email fabulousdigital@the-sun.co.uk and put EXCLUSIVE in the subject line.
