Whether you’re just starting to save for your first home, or if you’ve been following a savings plan for a while, here are 6 tips can help you fast-track your way onto the property market!

✔ Establish a budget – Establishing a budget provides you with a plan and an overview of the reality of your financial situation. 

✔ Set a savings target – You need a clear goal to work towards. Identify the type of house you can afford and work towards saving approximately 20% or more as your deposit.

✔ Make your savings work for you – Look around for a term deposit savings account that you can lock away a portion of your savings as you go.

✔ Top up with any bonuses – Any unexpected income such as your tax refund, work-related bonuses or any cash gifts add these to your savings pool.

✔ Automate your savings – Set automatic and periodic payments to your savings account to establish a routine and help to resist the temptation to dip into your savings pool.

✔ Reduce your existing debt – If you have any existing debts, consider accelerating these repayments to reduce the amount of interest you pay.

If you’d like to discuss your options with us directly, call  (03) 9133 5565 or click the  “Book a call” button below and we’ll contact you when it’s convenient for you.

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