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Tips to save for a house deposit

Ever feel like your never going to be able to save up for a house deposit? Don’t worry; we’ve all been there.

It seems impossible at the start, but with some dedication and know-how even the most troubled of saver’s can do it.

We’ve put together some tips to help you stay focused and save for a house deposit!

1: Have a savings plan:

We know life can get in the way and certain expenses are un-avoidable, but having a savings plan can help you determine the must have’s from the not so necessary purchases. We suggest opening up a specific savings account and direct deposit a certain percentage of your pay into this account weekly, and what ever you do, don’t touch it!

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2: Re think your shopping habits:

If you’re a Woolworths or Coles shopper, it might be time to start thinking about heading to your nearest Aldi store or buy bulk at Costco. You wouldn’t believe the savings that can be made by shopping at these stores and staying away from brand name products that, lets face it, taste nearly the same as the cheaper alternative!

3: Sell un-needed items online:

I don’t know about you, but I seem to have the habit of holding onto junk that I don’t need anymore for way to long. A good way to not only score some extra cash, but also clean up your space Is to sell un-wanted items.

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4: Find free activities in your area:

Just because your saving it doesn’t mean that you have to spend your time either at work or cooped up inside, there are plenty of fun free activities that you can do! Try going for a walk or bike-ride around your local lake, check out the nearest free gallery or Museum and explore the works. It’s all about thinking outside of the box! And enjoying the company of your loved ones.

5: Treat Yourself

It’s important to still treat yourself from time to time so you don’t go on a spending frenzy all at once. A good idea is to set aside a small amount of cash weekly as you activity ‘allowance’. You can decide to save it up and buy that new dress you’ve been eyeing off, or spend it weekly on annual lunch dates with friends.

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