Your first action is to start saving today, even if you’re not sure when you’ll buy

For example, if you’re an apprentice earning first-year wages, you might not qualify for a loan – but you can start putting aside $50 a week for a deposit.

Assuming a four-year apprenticeship, you’ll have $10,400 saved by the time you’re entering the workforce as a qualified employee.

I would also strongly advise that you maximise your savings by keeping your money in an account with a high compound interest rate.

Saving – and paying a mortgage responsibly – takes some sacrifice.

People don’t often like to hear the ‘s’ word, but it goes hand in hand with moving forward towards security and independent wealth.

Culling some of the major expenses, like dining out, shopping sprees, holidays, and brand new or second family cars might be a necessary step towards getting on top of your finances. You might even need to make bigger sacrifices such as renting a cheaper place while you save.

RealRenta has all the tools that a property manager has, but at over ¼ the cost of a property manager.

Join now and the cost is less than a cup of coffee a week to manage your rental property

RealRenta also has a free vision, so why not check it out

Jason Gwerder
Friday, 17 September 2021

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