Saving on a Tight Budget
When you’re saving on a tight budget to achieve a large goal such as saving up for your home deposit, it’s helpful to review your unnecessary expenses and find ways to be more efficient in your savings.
Here are some tips we have when it comes to saving on a tight budget:
- Double Check Your Subscriptions list
- Take Advantage of Discounts/Watch Promotional Emails
- Use Loyalty Rewards
- Avoid unnecessary bank fees
- Make note of Unessentials in budget
- Learn to cook and take advantage of making delicious home cooked meals instead of ordering out
- Invest in Solar Panels
- Get a bicycle to save money on fuel, public transport or those short uber rides
- Make lists of things to buy instead of window shopping
If you’re budgeting for the deposit on your first home, it can be helpful to know how much deposit you will need to purchase your dream home. Speak to your Mortgage Choice broker to find out what's involved and help you get into your first home sooner!