Millions of Australians started the year with the intention of saving more – were you one of them? Almost three weeks into 2016, now is a good time to take a step back and see just how well your New Year's resolutions are faring.
Research from Westpac found that 69 per cent of Australians set themselves resolutions that focused on their personal finances. However, 61 per cent admitted they'd also done so in previous years, but were unsuccessful in meeting their goals.
Whether you're hoping to make some improvements to increase the saleability of your real estate in Bentleigh East, or getting onto the property ladder for the first time, having an objective can be beneficial.
"We are seeing Australians considering a number of strategies to help them reach their goals," commented head of consumer deposits Elliot Smith.
"These include reducing expenditure, reducing impulse buys and creating a budget."
A report from Suncorp bank released last year found the average Australian saves around $427 per month, with those between the ages of 25 and 34 most likely to set money aside. Experts believed this was a result of Generation Y staying at home for longer, potentially as they build a deposit for a property of their own.
If this is the year when you hope to get onto the property ladder, make sure you speak to Matt Hurlston and the team at Ray White Carnegie. With years of experience in this popular marketplace, we should be your first port of call.
We appreciate that buying your first home is an exciting time, and that you might have been saving for a deposit for a number of years. Our real estate agents could be just what you need to find your ideal home.