How to make 50 thousand fast
My partner and I live in an extremely small one bedroom flat and we pay the least amount of rent possible.
We can absolutely afford something bigger but we are choosing to live in less comfortable circumstances so we can pocket that extra money and put it towards a home of our own. We know the situation is temporary and by making concessions now it will definitely pay off in the future.
Every little bit counts so open up a high interest, long term savings account asap and start putting a little bit away each month.
Depending on your financial situation and what kind of house you can afford, make sure you set yourself an amount to aim for.
In a bind?
You really need to commit, even when times are tough. Sell things you no longer need If you have two last model smartphones, a couple of bikes, a leather jacket and spare fridge you never use, take some photos and put them up for sale on Gumtree or eBay.
You could have an extra few thousand dollars sitting around your house in items that you never use. A few thousand dollars that would be much more use in your high interest house deposit bank account.
Automate your savings If you get a regular pay check you can automate it so that the designated amount comes out immediately. This is a great tip if you tend to self sabotage.
- Instead, you can put it to work for you and let it help you earn money.
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Be consistent Savings only work if you do it consistently. You need to nurture your savings like a plant.
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You need to be in charge of your own finances. Have you saved for a deposit on a house? How did you do it?