Are You Struggling to Save For Your Home or Investment || Property Investment in Melbourne Australia

September 21st, 2020

Hey, my friends. Welcome back again another blog wants to put together for you guys. This one is for people who struggle to save for a deposit for their homes or the investment property savings is a very good habit. If you can save that is a good habit bank like you, everyone you can get into your homes faster or your investment property faster. Because I know there’s a lot of things that go, we have a family, we have kids and there are lots and lots of expenses, which are beyond control.

 All the time we have some expenses going on all the time. So it limits us in our ability to save money. But some people save a lot of money and some people just cannot save any money. So there’s a different way people deal with different situations. So what I want to tell you is one of the best tips that I have heard and hard to implement, but then it’s very effective is how you want to do it is when you get paid let’s say you get paid 4,000 a month, or let’s say 6,000 a month, whatever that case is for you.

So you want to try and say, put away 10% of that immediately. As soon as it hits your account you just put 10%, 15%, whatever you can think of you just put that money away in an account, which you cannot touch, or you commit to yourself no matter what happens I’m not going to touch that account. It could be apart from any emergencies or everything, but you discipline yourself that you’re going to take that money 10% or 15% out of whatever comes into your account, put it into a separate account, and then keep on saving and then spend whatever is left.

Let’s say you earn 6,000 and you save 600 to another account. And then all your expenses should be covered from the remaining $5,400 that is available to you by doing that by doing it sounds simple. And but it’s difficult to do but if you’re able to do that, what happens is if you have $6,000, that you’re going to 6,000, maybe you’re going to spend more. Maybe you’re going to spend 6,600, put it on your credit cards or whatever. 

But when you only have 5,400 to spend, you will adjust. It’s amazing. You will adjust yourself. I’m not saying you will cut down on the essentials and things like that, but there’s always some known essential expenditure that every one of us does. So if you do that exercise in the short term for something that will help you in the long term, like buying a house or saving for any other thing.

So if you’re able to do that, make some money, put some money away into another sacred account, which you’re not going to touch until you reach your goal or whatever savings you want. That is sort of a good way to be able to save for a deposit. An amazing thing happens when you just save the money and you spend only what is left over after that. So try that, see, what are your experiences with that? Do it for the long term.

Don’t do it for 1 more month, be consistent, do it for 6 months, 1 year, 2 years, and see how it goes for you. And I’m pretty sure it can work for a lot of people. If you’re getting two salaries, that’s even better. So you should try and save a higher amount. Maybe you should save at least $2,000 a month between you and your partner or even more if you can, of course, and then put it into an account, just keep putting in an account and then just spend your money from the remaining, whatever is left.

So that is a very good and positive way to build up your deposit for your investment property or your home. Some of you might have equity in your home if you’re going to buy an investment property. But if you’re a first home buyer, you need to be able to get into that habit. Okay. So when banks also see that you have a saving habit, they will be very comfortable in giving you the loan. So, because they know these guys are good they want, they have a saving pattern, they save money and they’re not spending overspending from what they earn. So that sort of tape is very helpful. Please let me know how you go? What do you think about this one and call me on (0433213993)

If you have any issues with the deposit or you want to find different ways of how I can help you with all that kind of stuff, I’m just only a call away or just say hi to me whenever you can or call me on (0433213993) as always. I’m always here to help you. I want to improve your life. I want to improve my life and I want to do good in this world. So wishing luck to each other, wishing good positive vibes to each other. I want to end this video and I will meet you in the next one. 

Thank you.