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Tips for saving a deposit in 4 simple steps.

  1. See us for a financial assessment - This allows us to organise a loan pre-approval for you and determine exactly how much savings you need for your deposit. We also determine whether you are eligible for the First Homeowners Grant.
  2. Create a budget - this is key. Start with using a small notebook and, for a week, keep note of whenever you spend money. You then use this to see where and how you can start to budget. This will probably include: eating out less often, bringing lunch from home, cutting down on the coffee spend etc.  There is also some great resources on the government's MoneySmart website.
  3. Save your income tax returns in separate bank account – by keeping it separate from your normal spending/transaction account you are less likely to spend it and, if you leave it there, it will accrue interest.
  4. Choose cheaper holiday options – rather than that overseas holiday each year, explore some local WA venues. You’ll save money and learn a little bit more about our beautiful state.

Saving a deposit just takes a bit of Focus, Contact us any time as we can help take you through these steps.