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Easy spending habits to kick for the new financial year.

Sketching with coffee

Getting your New Year’s Resolutions going is never easy – especially if they include saving for your first home. After all, January’s holiday season, you’re still enjoying the summer weather, and that Christmas gift shopping spree has dented your bank account.

So why not begin with New Financial Year Resolutions instead? Use your tax return as a welcome financial boost, and kick-start your first home savings right away.

Change up these 7 spending habits too, and get closer to owning that stunning four bedroom home you’ve dreamed of.

Work out in the great outdoors.

Cancel that costly gym membership and get out exercising in the many free spots across the city and suburbs. Not that it’s a bit cooler, jog in parks and on shared paths with great views. Walk or run along the river, at the beach, up in the hills. Climb stairs in parks and office buildings, and use free gym equipment set up in parklands.

Stop the coffee grind.

We love it, yet we know it’s slowly and needlessly draining our savings. Make a resolution to give one of the newer, smoother instant coffees a try, at least twice or invest in a French press. If you absolutely can’t give up your barista style habit, why not a pre-loved coffee machine and take your own to work in a heat-sealed reusable cup.

Give up and cut back.

Cigarettes and alcohol don’t do our health or bank accounts any favours. Give up smoking and put the huge savings towards a home deposit. Cut back on alcohol and set a target of enjoying a drink only at weekends. You’ll save heaps, plus you’ll be fitter and healthier when summer rolls around.

Rely less on your car.

Petrol, parking, rego, insurance, repairs … with these hefty costs eating up your monthly budget, it’s smarter to find another way to work. Cycling, walking or running will do wonders for your health and your bank balance. Even a daily walk to your bus or train station is better than driving. Think about ridesharing with colleagues or neighbours.

Crunch the lunch numbers.

Buying daily lunch doesn’t need a calculator to deliver the expensive news. Even spending a minimum of $10 a day is taking a massive bite out of your potential new home deposit. Meal prep is the answer! Shop smart, cook at home and pack your own healthy lunch for work.

Host more big nights in.

Review your entertainment spending and get clever about eating and drinking at home. Winter’s the perfect time to put this resolution into practice, so get your mates over to enjoy gatherings or dinners more often. Have everyone bring a share plate and drinks. Cosy home movie nights also make saving sense.

Stick with your tech.

Electronic devices will always be overtaken – that’s technology. But you don’t have to upgrade constantly if they’re still working well. Stick with your phone and laptop until they wear out. Would you rather be ahead of technology or ahead in the journey to your first home?

The Commodore Homes team can help you into that home sooner. We’re the most affordable home builder in Perth, so you also get more.

Chat to us now about low deposit home loan options, Keystart home loans, and about securing your $10K First Home Owners’ Grant. We make it easy to own a beautiful new home. Let’s talk today.

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