We have a lot of young (aspiring!) professionals on our team. And their biggest gripe is ‘we’re never going to get on the housing ladder.’ We hear all sorts of excuses. It’s OK for you, houses were cheaper when you were young. It’s OK for you, you earn more than we do. We’re never going to be able to save enough for a deposit. And do you know what? They’re right.
Poor souls. They are badly done to. And for that reason, I am willing to give them my tried and trusted formula – Julie’s Foolproof Guide to Getting a House:
Stop buying smashed avocado and crab on toast at 20 quid a pop. And Iced Caramel Macchiatos with an extra shot and cream. And stop spending a few hundred quid a month on a Mercedes A class. And the latest mobile phones. And 100 quid a go nights out.
Invest what you save in a regular savings plan. And don’t touch it. Until you have enough for your house deposit.
I can make this even more simple. Spend less. Save more.