Make 2019 your year to build
If building your very own home is a goal for 2019, no doubt you’ve adopted a New Year’s Resolution to save money towards making that a reality.
Simply by changing up a few common spending habits, you can easily find ways to save money to put towards a brand new home.
Is boosting your building fund or moving into your brand new home one of your goals for 2019?
Take a break from the daily grind
If you’ve developed a habit of stopping by your favourite barista on a daily basis, there are three options to save plenty:
- Switch to instant coffee – the choice is a lot better than it once was.
- Invest in a French press.
- Keep an eye out for a pre-loved coffee machine and take your home-made barista-style brew with you in an insulated, reusable coffee cup.
Prep your lunches for the week ahead
If your working week habits also include buying lunch every day, the cost soon adds up. At a conservative $10 a day, 5 days a week, that’s $2400 for the year … even taking into account you’re on leave for 4 weeks. Packing your lunch needn’t become a daily chore either. By shopping smart and doing one big batch cookup for the week, you can save big without hassle.
Quit the gym in favour of fresh air
Keeping fit is important, but gym memberships can be costly and there’s so many ways you can exercise for free in the great outdoors – especially with the wonderful climate we enjoy on the Sunshine Coast and all our incredible beaches, rivers, mountains, national parks, parks with free gym equipment, shared paths and more. There’s so many options available, such as taking part in your local weekly volunteer-run ParkRun, free outdoor group fitness classes, practicing yoga on the beach and hitting the water for a surf, stand-up paddle boarding or kayaking.
Consider pedal power for your commute
Relying less on your car is another easy way to save, especially if you face parking cost on top of petrol. Cycling to work is a great way to boost your health – as another alternative to a gym membership – while also cutting your motoring expenses. It’s especially practical if you have shower facilities at your workplace. Walking or running to work has similar benefits, if you live within close proximity. Otherwise public transport or carpooling with colleagues or neighbours always remains a good option.
Cut down on your vices
We all know cigarettes and alcohol have negative affects on our health, so cutting back on these – or giving them up altogether – can again not only have a positive impact on your fitness but also your bank balance. Consider using your goal of moving into your new home as extra motivation to ditch the habit for good and put every cent you save into your building fund.
Embrace your existing devices
As technology advancement moves at such a fast pace these days, it’s all too easy to get caught up in the apparent need to constantly upgrade electronic devices such as mobile phones, tablets, smart watches and the like. But do you really need a new device if your existing one is still working well? Swap being first among your friends to have the latest technology with being ahead in the journey to building your own home.
Switch up your social scene
There’s massive savings to be had by curbing how often you dine at restaurants, go to the cinema or join friends for a night out. There’s no need to become a hermit, however. Consider hosting gatherings such as home movie nights. Having people gather at your place is a lot more economical, especially if everyone brings a share plate and their own drinks.
Other ways to save
Here’s a few more tips to boost your building fund this year:
- Rather than living from pay cheque to pay cheque, then putting aside whatever is left over, take your savings out first, move that money into a separate account and then live off the rest – making it stretch as far as you can.
- Consider downgrading your car. If you sell your car and buy a cheaper car, you can save the difference. Even better, as a couple, can you make do with only one car? Cars are depreciating assets and their cost goes well beyond petrol – with insurance, registration and maintenance all costing a mint – so by getting rid of one vehicle altogether you can save an enormous amount over a year.
- If you have a spare room in your house, consider renting it out for some extra income. If you’re currently renting, be sure your rental agreement permits you to sublet.
- After the financial year ends and you receive your tax return, avoid temptation to splurge and put the cash into your new home savings account straight away.
If you’re considering building on the Sunshine Coast or in Brisbane, chat to the Vantage Homes Qld team today about the steps involved and ensure your savings are on track to make your dream a reality in 2019! We’re always happy to offer no-obligation, expert advice on any aspect of the process.