Saving up a first home deposit, especially in Auckland, is no easy task. It can take years of solid effort to pull together enough to get yourself on the property ladder.
Having to save for an extended time can get pretty dull after a while, especially if your mates are out brunching without you.
Well, we’re here to help! Here are ten ways to boost your deposit faster without sacrificing your lifestyle.
While it may feel like small change, as they say, many drops fill a bucket. Keep going, and you’ll be moving into your first home before you know it – promise.
1. Take advantage of free events throughout Auckland
Movies and concerts in parks, exhibitions, festivals and markets – there’s always heaps going on around Auckland, and lots of it is completely free.
To keep up to date with the latest events around Auckland, check out the Council’s events page here and sign up for their weekly newsletter. So much inspiration!
2. Get the latest magazines and books online – for free!
Auckland library is a total gem. All you need is a library card and you’ve got free, instant access to the all of the latest books and magazines, both NZ and international.
If you haven’t already, check out the brilliant selection or sign up here.
3. Catch up with friends outdoors
This one’s a double whammy – save money and get active at the same time. Instead of a pricey meal out, catch up with friends and make the most of what Auckland has to offer – our beaches, parks, bush walks, cycleways and bike pump tracks, regional parks and costal walkways.
There are so many options and you’re far more likely to remember the experience over what you had for brunch a couple of weeks ago!
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4. Shop at Pak’n’Save
Exactly the same stuff, just way cheaper than other supermarkets. Depending on where you live, it can be a bit of an effort to get to a store, but the savings make it worth your while.
5. Sign up for free trials
Right now I’m making the most of a free 30 day trial at Les Mills, worth $150. Loving it! Many companies offer free trials like gym memberships, Lightbox, Sky, Spotify, Uber eats, Apple iTunes. The list goes on.
If you don’t want to continue the trial, make a note in your phone or diary to stop any auto-renewals before getting locked in.
6. Re-negotiate your utility bills
We ‘ve recently bargained down our internet provider from $95 monthly on a fixed contract to $75/month open term, just by asking the company to match another deal we’d seen online. It took all of 20 minutes and a couple of phone calls.
7. Use your coupons and gift cards
So easy to forget about, but gift cards are like cash in your wallet. Rummage around and I’ll take a bet you’ll find something. If it’s expired, call up the company and see if they’re willing to honour it anyway.
8. Sell your unwanted stuff on Trademe
Minimalism is so in right now! If your anything like me, you’ve probably got heaps of valuable stuff just sitting in your drawers, waiting for who knows what. Your old iPhone 4s? You might get 50 bucks for it.
You’ll feel better for it and you’ll have less stuff to shift when you move into your own home.
9. Earn more money
See if you can negotiate a pay rise – it may even allow you to extend your borrowing potential. Same job, more money.
Suss out interest rates for deposits and make sure you’re on the most favourable terms. Compare deals offered by various banks – and don’t be afraid to switch if necessary.
10. Transfer any savings into your first home deposit account
As soon as you’ve saved any money or received an unexpected discount, transfer it into your home deposit account. Your account will grow super-quick.
What else could you do?
What else could you do to save a little bit extra more each week? Do you have any other tips for savings not mentioned here?
Share it with us in the comments below!
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