It’s almost February 2017 and it’s well and truly time to put those New Year’s Resolutions into practice.
For many young West Australians, saving for a house is a rewarding challenge that often gets delayed by… well, life. So here are a few expensive habits you could kick to help you knuckle down and start saving!
By now, we all know that smoking isn’t as “cool” as it used to be. The old claims of doctor and dentist support have long since been debunked by current and accurate data, showing us that even just one cigarette a day will not only drastically increase the risk of heart and lung disease, but also lead to premature ageing and the loss of sense of taste and smell.
When you combine all of these negative factors with the high price point (a pack of 25 cigarettes generally costs from $25 to $30) there doesn’t seem to be many reasons left to smoke.
2. Cycle or walk to work
With petrol prices over $1.30 per litre and parking tickets reaching extortionate prices, cycling or walking to work is definitely becoming the most viable option. Get a health kick while you’re at it! The fresh air in the mornings will not only make you more alert, but the exercise does wonders for your general health and mental well-being. If your work is too far away, there must be someone who lives nearby that you could carpool with, or you can catch the bus part of the way and walk the rest!
3. Takeaway coffees
At more than $4 a pop, takeaway coffee has become more of a luxury than anything. Buying coffee/s each day is a sure way to break your budget! Instead, buy a huge jar of instant coffee and you’ll be amazed at how long it will last you. You’ll love the creamy taste of that barista long mac even more once it’s a special treat.
4. Buying lunch
Spending a minimum of $10 per lunch per day takes a huge chunk out of your weekly cash flow, and this is only an average! Imagine spending $10 every work day for a month. That’s $200! Now multiply that by an average of 11 months and you’ve reached a whopping $2,200! Imagine if you put that towards your home building budget!
5. Big nights out
Perth is an expensive place to eat and drink out. So get a bit thrifty with your entertainment ideas. Invite people over to chill out in your backyard and have people bring a share plate and a bottle of wine when you have big dinners. Also, check online promotional offers (Scoopon, Groupon, Living Social, Catch of the Day, etc.) to get one off discounts on meals, activities, shows, even flights and accommodation!
6. Upgrading electronic devices
Accept that you can never be on the cutting edge of all technological advances. Constantly upgrading your devices is ridiculously expensive and ultimately unnecessary. A lot of the time the changes are so minor that they are barely recognisable (to the untrained eye). So try using your devices until they actually wear out and need replacing. That way you’ll appreciate just how good the latest tech is once it’s finally time to upgrade.
7. Consider the future
By thinking ahead of the present, you will be able to make the necessary sacrifices to see your nest egg grow. Place yourself five years in the future, 10 years ahead and even further. Knowing what you want from your life will help direct your spending habits. Take a look at a few of these beautiful home designs to give you some extra motivation to save for a house today!