I’m 36 years old, my husband is 32 (I’m a “Cougar”, apparently, haha) and we’ve been renting our whole lives.
Because we chose to spend our hard earned cash in our 20s on valuable experiences such as long overseas working holidays, qualifications and more, instead of saving for a house deposit. Some may say that’s frivolous, we say it was the best thing we ever did. Each to their own and all of that!
It’s also because we live in Sydney, a city renowned for being one of the most expensive in the world. We don’t want to sacrifice our lifestyle just to buy a house. We love where we live on the beaches and are happy to rent until we can afford what we really want around here.
Now, saving for a home is not easy in the first place - let alone when you consider that we’re on one full time income with two kids aged 2 and under. It’s difficult, that’s for sure.
I’m also renowned for ‘wanting it all’ and being a big shopper. Hmm, not conducive to saving. I’m slowly but surely learning a few tips and tricks that will help save for that dream house.
However, I’m DEFINITELY not expert. So I’ve partnered with People’s Choice Credit Union to bring you my top tips.
As one of Australia’s leading credit unions, People’s Choice Credit Union can provide helpful advice on what is the right home loan for you. They recently won CANSTAR’s 2016 First Home Buyer Customer Institution of the Year - SA award. To celebrate they have a three-year Fixed Home Loan Package rate for first home buyers at 3.84%p.a * (comparison rate 4.86%).
As a shopping addict, I’m not going to tell you to stop shopping. But I’ve learnt to be smart about it. Stalk your favourite Instagram stores for upcoming sales and always check seconds/hand me down pages.
Kids go through clothes so quickly, so I like to shop at stores like Target and Cotton On who offer great quality items for low prices. That way, you can save your money for a few ‘investment’ handmade beautiful Insta-store pieces.
At the supermarket, rather than shopping around (i.e. Aldi for this, Coles for that - ain’t no mum got time for that!), just select products that are on special. For example, I know my kids don’t know the difference between Helga’s Soy Linseed Bread and Burgen Soy Linseed, so I get whichever is on sale! Likewise with things like crackers (Home Brand all the way) - they waste so many by dropping them on the ground, mushing them etc, so why pay for the premium brands? And stock up on veggies that are in season, they’re always cheaper.
Home style saves the cash
Make your own smoothies and juices to pack with you when you head out with the kids. It’ll be WAY cheaper than cafe-bought. Likewise with water, take your own and you won’t be stuck forking out for bottled water everywhere.
I also do a bit of baking on the weekend to ensure I have healthy and cheap snacks to grab for the kids, saving money on the packaged stuff.
Re-think that 2nd (and even 3rd!) takeaway coffee…I know that coffee is the lifeblood of mums. I COULD NOT survive without my morning long black, that’s for sure. But those ‘quick coffee stops’ do add up.
I sometimes opt to double my morning shot instead of spending money on two throughout the day. And yes, I have been known to heat it up if it goes cold before I get time to drink it all - all class ;)
Like coffee, wine is a mum life necessity! I enjoy the $20+ bottles, don’t get me wrong. But I’ve found a few cheaper options that taste just as good. Experiment a little with the type that you buy. And Aldi is a GREAT place to buy quality wine for less - who would have thought it, hey?
Try a few different nappy brands. We were one particular premium brand all the way…,until I actually tried another brand that my (tight-arse!) husband “accidentally” bought and they are BRILLIANT for my kids. And about a third of the price. Don’t be a nappy snob! Same goes for wet wipes. I know every babe is different, but with all the cheaper brands out there, chances are one of them will be perfect for you.
When it’s pay day, make it matter
When it comes to payday, we make putting money into a proper savings account (one that we can’t touch) a priority. This ensures we know exactly what we have left to live off and the money in that account just builds without us really noticing it’s gone.
There you go, my tips for not sacrificing lifestyle too much, and still saving some pennies for that home you long for. And hit up our friends over at People’s Choice Credit Union for an in depth look at their competitive and low rates across a range of different loans. They really do have something to suit everyone.
Happy saving mamas :)
*Terms, conditions, fees, charges and lending criteria apply and are available on application.*To be eligible for a Home Loan Package, you must have minimum borrowings of $150,000 and your pay must be deposited into a People's Choice account. The comparison rate is current as at 14 December 2016 and is subject to change without notice. Home Loan Rate available for first home buyers only (each borrower on the loan must have never previously owned a residential property (either separately or jointly with another person)). Investment Loans are excluded from this offer. After the fixed period, loan reverts to applicable Variable Home Loan Package rate at the time, determined by total home lending balance. Current Variable Home Loan Package rate for $150,000 is 4.71%p.a., comparison rate 5.09%p.a. The comparison rate is based on a $150,000 loan over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. You should consider our Product Disclosure Statement and/or other Disclosure Documents. This information and advice is provided without reference to your personal circumstances so you should consider whether this product fits your objectives, financial situation and needs. People’s Choice Credit Union, a trading name of Australian Central Credit Union Ltd, ABN 11 087 651 125 Australian Credit Licence (244310).
NOTE: this is a sponsored post, however we never endorse anything we do not 100% believe in and use ourselves!