It looks like being homebound has become the new norm (for now), but we are here to tell you there are some positives to being in iso or working from home.
Not only do you get to lounge around in your comfy clothes all day (umm #winning) you get to spend hoourrrssss watching Netflix without being judged! Plus while you are at home it means you’re not driving around (saving fuel) or needing a new outfit for that party! Who knew staying at home would help you save money! Yasss
So we are pretty confident that it’s the perfect time so hit those savings goals! If you put aside some of the money you would normally spend going out and about, you’ll be able to reach your savings goal faster and even reach your new home goals sooner! #winwin
Benefits to staying home and saving $$:
- No need to travel, so you’ll save by not having to purchase fuel each week
- Eating home cooked meals instead of eating out (or buying lunch every day)
- If you have kids, you may fall in the Government’s Child Care funding scheme (potentially saving hundreds per week)
- Not paying for activities, such as going to the movies or your gym membership
Quick ways to save money:
- Get a second job; if you find that you have a lot of free time on your hands you can apply for jobs you know you can do. Even if it is part time or casual, money will be coming in
- Sell things you don’t need; Do you have electronics, clothes or furniture that you don’t need and don’t use? Is it lying around the house collecting dust? If so, it is a great time to sell these items
- Compare prices; Before buying anything that you need make sure you do a deep dive on the internet and compare prices. If you get to save $5 or $10 that is always a win!
- Give yourself a weekly allowance; Keep an eye on your spending and allocate yourself strict funds for the week
- Chat to your family or friends; if you know someone who is a great saver hit them up. Ask them to create a spreadsheet with you and to help you come up with ways to save money
What about low interest rates?
- With interest rates at an all-time low, the banks are offering more support to first home buyers wanting to get in their own home.
- This means you can own your home for less making it more affordable! Who doesn’t love lower repayments and more money in your pocket?
Demand for rentals:
- The median price for renting in Perth has jumped $10 to $360 per week and vacancy has dropped to 2.4%* – just 3 years ago it was more than triple that
- Demand for rentals is high, making it harder and more expensive to find the right rental
While there is a lot happening here and around the world, the WA Government is providing more assistance to West Aussies making it easier to save money. There are many options available to first home buyers to help with getting into your own home. From low deposit home loans, to accessing the First Home Owners Grant to our special offers, getting into your first home has never been easier or more affordable.
At Aussie, our team are here to guide you into your first home. Speak to our team and find out if you qualify.
*Source: REIWA
