Blog Article

Written By - Kylie Hunt

It's no secret that being able to save up for a deposit these days is considered an almost impossible goal, especially while paying rent.

We have a few sure fire tips to help you on your way to owning your first home.  

1. Consolidate your debt - Debt is a real problem that can easily get out of hand, especially if you have a high interest rate.   An easy way to combat this is to consolidate all your debt into one low interest loan.

2. Build a budget - Put together a detailed budget spreadsheet with all your bill and expenses. Stick to it as best you can.

3. Saving tips - While grabbing takeaway after a long day at work seems like a great idea at the time, it won't help you save for your first home.  Try to save money by having a big cook up on the weekend to last you for the week ahead. Also can you exercise without a gym membership? Of course you can. It all adds up at the end of the day.

4. Reward yourself - It can't be all scrimping and saving, you need to let your hair down and enjoy yourself too.  When you have reached goals you have set, treat yourself to something small.

The good thing is, if you make a lot of small changes it will have a big impact and before you know it you will see your savings grow and moving into your first home will now be a very realistic goal.