How to save for a deposit - FAST! 🔥🔥🔥
Almost everything about buying your first home is exciting. BUT, coming up with the money for a deposit Isn't!
It can be a tiring and lengthy ordeal but keep in mind the more money you put down upfront, the less you'll have to borrow.
There are many ways to save for a home that don't require major changes to your lifestyle. With a good savings plan and some discipline, you'll soon have the deposit for your home.
Here are our suggestions to turbocharge your savings:
👉🏻 Pay off existing debt, avoid credit card debt & BNPL,
👉🏻 Take advantage of FHOG's,
👉🏻 Consider moving back home or shared accom
👉🏻 Sell pre-loved goods on Gumtree
👉🏻 Put away 20% of your wage
👉🏻 Rent out a room
👉🏻 Shop at discount stores or bulk buy
👉🏻 Reduce your luxuries
👉🏻 Get a part-time job
👉🏻 Set yourself a budget and stick to it
👉🏻 Use a high-interest saving account,
👉🏻 Invest in micro shares or ETFs,
👉🏻 Shop around for deals.
Spill the beans! What have you done to improve your savings?!