Today I want to speak to all the 18-25 year olds. So many times in the media or in conversation around us, I hear the exclamation,
“How are our young people ever going to afford a home of their own!”
They don’t pose it as a question they have already decided it is going to be impossible and have made the ruling.
Well I want to say,”Young people, block your ears!!!”
You can and you will be able to afford it but you will need focus. You will need to set a goal of owning your own home and start saving towards it and it is never too early to start saving.
Most young people have part time jobs. You probably started to earn your own money in highschool and if you have chosen to go to uni then you probably have continued with your part time job. If you have decided against uni then hopefully you are in full time employment. So Don’t waste it!
Don’t see it as play money- see it as the beginning to a great future.
I have asked around a few of my daughter’s friends to find out what they earn in their part time jobs and I have found out that you can be earning anything from $150 to $500 a week. So let’d do the maths….
$150 minus spending of $50 = $100 x 52 weeks = $5,200. Save that for 10 years and you will have a $52,000 deposit
$500 minus spending $100 x 52 weeks = $20,800 per year. Save that for just 5 years and you will have $104,000 for a deposit.
So don’t subscribe to the belief that it is all too hard. Start saving and you can achieve your goal!