Claire Reid
An estate agent has been met with a bit of a backlash after claiming aspiring homeowners can simply stop spending a fiver a day in Greggs to save themselves more than £8,000 in five years.
Posting on TikTok, Midlands-based DM & Co. Homes shared a clip which explained: “You spend £5 at Greggs every morning. That’s £35 a week. That’s £140 a month. That’s £1,680 a year. Three years later, that’s £5,040. Five years later, that’s £8,400. You could’ve added that to your deposit on a property.”
Check out the clip here:
The caption accompanying the clip read: "Who's guilty?"
But, while the maths is correct – and the post is technically accurate – many fellow TikTok users were left less than impressed with the post.
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One person commented: “Apart from eating, what other things should we stop doing to afford a house? If I stop showering I would save a fortune in water/electric/soap costs."
Another wrote: “This is literally boomer mentality! Buying a sausage roll is not going to stop you from saving a deposit. Pointless video."
A third said: “I agree with the premise that a little change can add up but this kind of advice frustrates more than helps.
“The housing market is broken and telling people not to buy a coffee isn't going to change that.”
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Someone else pointed out: “The purchasing power of that £8400 is gonna be far less in five years time than what it is now."
Others questioned who would be spending five quid a day in Greggs, seven days a week for five years.
“Who is spending £5 at Greggs every single day?” one user asked.
A spokesperson from DM &Co. Homes told the Mirror the post was designed to get people thinking about how much – or little – they’re saving.
They said: "We've done a few videos like that and people love them. It really makes first time buyers realise how much they can save."
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Of course, while saving £5 a day on anything – not just Greggs – will eventually build up your savings, that hasn't stopped the estate agents facing backlash for the video.
"Some users don't really understand the point of the video or have the motivation to save. They don't realise how much these things are and that it will add up over time.
"People are always going to make comments but I don't take notice.
"House prices are only going up and because TikTok is aimed at a young audience it's good to make them aware of how they can save."
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"If you stop spending money on these things you can save and get yourself on the property ladder."