How to Save for Your Deposit Faster
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Not having to save for the best part of a decade is one of the ultimate goals we can have in life. It sounds fancy, but believe us when we say that it’s totally achievable.
\\nIn this episode, we share creative and pragmatic life hacks to speed up the saving period for your deposit so you can get closer to your first home purchase without missing a step. We tackle crucial subjects such as how you can tighten your belt, boost your savings, and avoid putting your earnings at risk.
\\nIf you’re having trouble saving up for your desired home deposit, this episode will surely prove useful to you. Tune in now!
\\nSee you on the inside!
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Episode Highlights:
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- The challenge of finding the right home deposit [02:55] \\n
- The 20% pay yourself first scheme [07:01] \\n
- Move back with your parents [11:52] \\n
- Home-made coffee and packed lunch [13:12] \\n
- Getting rid of your car [15:33] \\n
- Co-ownership: Partner with a sibling or a trusted friend [18:32] \\n
- The gig economy [20:13] \\n
- Work out monthly repayments of expected loans at 7% interest [22:32] \\n
- Cut out your credit cards [24:19] \\n
- Do not get married [25:36] \\n
- Say NO to Bitcoin or the share market [27:01] \\n
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Link/s from the show:
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- Our courses (https://homebuyeracademy.com.au/all-courses) \\n
- Tune in to Episode 4 where we addressed the question, “What are your options if you can’t afford to buy where you live?” (https://homebuyeracademy.com.au/podcasts/004) \\n
- Check out our blog titled “Why first home owner grants and incentives could end up costing you thousands” (https://homebuyeracademy.com.au/PREPARATION/grants-incentives) \\n
- Tune in to Episode 9 with David Johnston where we talked about the importance of a borrowing strategy (https://homebuyeracademy.com.au/podcasts/009) \\n
If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! We have loads of resources available and if you’d like to talk with us directly, send us an email at support@homebuyeracademy.com.au!
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