How I cracked the property market and you can too

by Verve

Some people go all out for their 30th birthday. It’s a time to reflect on what you’ve achieved in your 20s and embrace the start of a new and exciting decade. Not me. I cried in the middle of a restaurant. 

Don’t get me wrong, I had achievements I was proud of, but I’d spent most of the decade renting, moving, traveling, buying clothes… and drinks. The result was $11,000 worth of credit card debt and barely a cent in my bank account. I’d just moved home with my parents in an attempt to undo my mistakes and start saving a house deposit. 

But in that moment, it all felt impossibly out of reach. Still, I had two choices: continue living in the moment and wind up in the same position at 40, or get it together. 

At this time, I was at rock bottom, both financially and mentally. But this overwhelming feeling of stress and anxiety was what I needed to implement a plan to save hard and fast. Long-term I aimed to add additional voluntary contributions to my superannuation, build up my savings and perhaps invest in shares, too. But property was my first priority. Why? Because not only is property a good investment, it’s a roof over your head. When you own your home, no one can take that away from you. 

So, armed with little more than motivation and good faith. I quit spending and started a serious power-save. I urge you to give it a go. If I can do it, maybe you can too.

How to kick start your power-save

  • Work out where you can cut back on living expenses. Can you move into a more affordable sharehouse? Try housesitting? Handle living with your folks for a year?
  • Look at your income, calculate your non-negotiable expenses (rent, car repayments), then, with what’s left, work out what you can feasibly live on each week. Cut out everything that’s not essential 
  • Start spending time with people who have a similar goal. You’ll need to hunker down and look at where you can cut back on social expenses. That means more time at home with your mates eating pizza and less time at bars

It doesn’t matter what you’re saving for, these power saving tips can help you reach your goals faster. I used these exact tips to crack the property market in Melbourne and now it’s time these simple steps were shared with others.

For more from Nicole Haddow, you can purchase her new book, Smashed Avocado, How I cracked the property market and you can too, out now. 

@smashedavocadoproperty | @nicolehaddow

This blog is published by Verve Superannuation Pty Ltd (ABN 65 628 675 169, AFS Representative No. 001268903), which is a Corporate Authorised Representative of True Oak Investments Ltd (ABN 81 002 558 956, AFSL 238184), as the Sub-Promoter of Verve Super. 

Verve Superannuation Pty Ltd and True Oak Investments Ltd are not licensed to provide personal financial advice. The information contained in this blog, including any financial guidance, is general in nature. You should consider seeking independent legal, financial, taxation or other advice to ensure that your financial decisions are suited to your unique circumstances.

You should read the Product Disclosure StatementAdditional Information BookletInsurance GuideTarget Market Determination and Financial Services Guide before making a decision to acquire, hold or continue to hold an interest in Verve Super. When considering financial returns, past performance is not indicative of future performance.

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