At the age of 30, Nicole Haddow had no savings or financial plan, credit card debt in her name and a dream to own a house that was far from reality.
But by the time she was 31, the Melbourne journalist had squatted the property market after buying her first single-income home.
However, this has not become easy for the 31-year-old – who has written a new book titled & # 39; Smashed Avocado & # 39; about the sacrifices she has made to get on the real estate ladder, as well as the simple steps that can help you do it too.
Nicole said one of the most important things she learned while raising $ 25,000 for a house deposit is that some friends & # 39; fair-weather friends & # 39; and make your saving journey harder than it should be.
At the age of 30, Nicole Haddow (photo) had no savings or financial plan, credit card debt in her name and a dream to own a house that was far from reality
How did Nicole save getting onto the real estate ladder?
* She took lunch at work every day.
* She cooked at home with friends in the evening and drank cheap wine.
* She gave up all non-essentials – such as taxis, brunches, Netflix subscription and weekend breaks.
* She looked at her finances and set a goal – squirting money away when she was paid.
* She paid the minimum repayments on her credit card debt while setting up money for her house deposit.
& # 39; If someone says, "You know what, I'm actually saving", & # 39; just look at the dynamic change of friendship, & Nicole told Mamamia.
She said that as soon as she told her friends that she was not going to go to an event or weekend, some of them would quickly scold her and leave her.
& # 39; It was clear that I needed to feel comfortable being alone or finding friends willing to spend cheap nights together & # 39 ;, she said. & # 39; If I kept going out for more than $ 300 on the weekend, I would be ruined. & # 39;
The 31-year-old revealed that one of the hardest things about saving is not saving itself.
In fact, it is the people around you who & # 39; are not ready to do it themselves & # 39; and & # 39; you will fight at every step & # 39 ;, she said.
Nicole (photo) said one of the most important things she learned while raising $ 25,000 for a housing deposit is that some friends & # 39; friends in good weather & # 39; to be
Nicole said her friends kept asking her to go out with them on evenings and weekends away for a while, but after a few months & # 39; the text messages & # 39; and & # 39; and she was alone.
& # 39; It's sh * t. It hurts and it takes a lot of strength to realize that if people don't support your goals, they're good weather friends, & she said.
She said she slowly learned that if a friend is not there for you at your worst moment, then why should they do your best.
However, the experience reinforced the journalist, who said she loved evenings and brought packed lunches to work.
In her new book titled & # 39; Smashed Avocado & # 39; the author revealed the sacrifices she made and the steps she took to help her reach the real estate ladder in less than two years
So how did the journalist crack the real estate market?
After reviewing her bank statements, Nicole said she was shocked to see where all her money went when she lived up to her 20-year-olds.
From taxi & # 39; s to drinks, brunches, clothing and hairstyles, she said she almost had an account balance of & # 39; exactly nothing & # 39; and therefore made a financial plan with the help of her father, who had accounting experience.
The first thing she did was look at where she spent – such as alcohol and going out – and drastically cut back.
The second step was to be realistic about what she could afford in the market at the beginning of 2013.
She looked at two-bedroom apartments ranging from $ 300,000 to $ 350,000.
Nicole (photo) said she had set herself an ambitious goal of saving $ 25,000 to $ 30,000 within 14 months
Within two years after saving, she became a proud homeowner (pictured with her book)
Nicole started looking at how much money she made, which was about $ 4,000 a month as a social media consultant and content for a PR agency – and between $ 500 and $ 1,500 a month as a freelancer writer.
Nicole said she had set herself an ambitious goal of saving $ 25,000 to $ 30,000 within 14 months.
She had to calculate her expenses, including car refunds, credit card refunds and telephone bills, and her non-essential expenses.
These include great nights out, taxis, clothing, hair, Netflix and brunch.
Her father even suggested that it would be better if she paid the minimum repayments on her credit card debt while setting up money for her house deposit.
Nicole then took her lunch to work every day, avoided too much during the week, and cooked at home and drank cheap wine.
Less than two years later, she became a proud homeowner.
& # 39; Buying a house is not easy. It is not the intention. It is one of the greatest financial decisions you will make in your life. But it's worth it, & she said earlier.
Nicole Haddow is the author of Smashed Avocado. Click for more information here.
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