One month into saving for a home loan deposit ($60,000) and we are definitely off to a great start. We managed to save $1,200 towards our home loan deposit this past fortnight, an extra $50 more than our fortnightly target of $1,150!
Saving like this not only requires careful budgeting, but also extreme dedication in the face of temptation. I guess one down side of saving money is the added urge to make an impulse purchase ‘because you can afford it now’. That happened to me this week (see picture below), but I somehow managed to fight the urge away albeit following a stern talking-too from my wife! As she said, there will be plenty of 80s-styled motorcycles for me to buy, but first we need a place with a big enough garage to put them in!
(my latest temptation – a 1987 Honda CBR 1000F Hurricane)
….Onwards towards savings goal #3!