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How To Save For A Deposit As Living Costs Surge
February 2, 2023 jun Strategy Session


Record high inflation has gripped the entire world and rising living costs are making it extremely difficult to save for a first home. Fortunately, there are some things you can do to make it easier to put away money for a new house.


Set up recurring deposits – Every time you get a paycheque, immediately transfer a portion to your savings account.


High-interest accounts – Just like you would compare your home loan options, it’s worth comparing different savings accounts and term deposits.


Change your living arrangements – If you’re trying to get a home of your own, it could be worth living in a share house and taking on housemates, or even downsizing your rental to help you get ahead.


Pay down debts – It’s hard to save when you’re paying interest. Get your financials in order and pay down any high-interest debt like credit cards.



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