A young Australian who earns a comfortable six-figure salary has revealed her raging spending habits and strict weekly $400 saving scheme.
Minister Michael Thacker said the number of first home buyers in Australia was at a “record low” at the moment. “This idea in the Labor Party that the way to deal with housing is to make first home buyers have less money on hand and make first home buyers have less money for a deposit is that the very thing they are doing is “That's a remarkable claim,” Thacker said. he told Sky News Australia. “We want first-time home buyers to spend less time saving up their earnest money.”
Natalie Hale, 23, lives in Queensland and is currently paying $125 to live with her boyfriend's father.
She takes a fairly strict approach to budgeting.
“I typically spend about $250 a week on expenses and am trying to limit non-essential spending to less than $150 a week,” she told news.com.au.
While $150 may seem like a win, Hale believes more can be done.
“This is clearly far above what is needed,” she said.
Natalie Hale shared how she saves for a down payment on a home. Photo: Instagram/nattyhalexo
Natalie thinks she can cut her expenses even further in the future. Photo: Instagram/nattyhalexo
Ms Hale works as an independent disability support worker and is currently logging as many hours as possible to save money.
“I'm working as much as I can while I'm still young. In my free time, I make money by taking paid surveys and doing live streams on TikTok,” she said.
Because she's self-employed, her pay often fluctuates, but she recently shared how much she made in a week.
A young Australian woman has shared on social media how she calculates her weekly salary while saving up to buy a house.
This young worker earned $900 after taxes from support work, $77 from online business, and $200 from completing surveys.
Ms Hale then detailed where her money was being spent. She likes to allocate small amounts of money to different accounts that she uses for different things.
For example, she transferred $5 to her activity account, $40 to her car account, and $10 to her gym account.
She put $250 into her home savings account but only $6 into her medical account. It's all part of a complex system she created to track her spending.
But her income can vary greatly from week to week.
In March, she posted a breakdown of her expenses again, revealing that her after-tax income was $6,000, but she used most of it to pay off her $3,000 car loan.
Hale said her income fluctuates, but that she is making six figures this year.
She shares where her money is going. TikTok/ nattyhalexo
She earns a different amount every week. Photo: Instagram/nattyhalexo
Hale said she was motivated by a desire to be “financially free.” She's only 23, but she says she's already planning for a “stress-free retirement when the time comes.”
However, she must be vigilant.
“I don't pay for subscriptions to Netflix, Disney, Stan, etc. I don't go out drinking or partying on the weekends, which are the two biggest expenses for young people, and I try to shop when they're on sale,” she says. explained.
Right now, she's focused on saving up for a down payment on a house, a goal she believes she can reach by next July.
“Right now, my goal is to have a down payment saved by July of next year, but depending on the housing market, I plan to wait a while longer before purchasing a home,” she said.
But she's confident she'll get there.
“If you set realistic savings goals and believe in yourself, you can achieve these goals. However, the housing market can be a scary thought and can sometimes make you question this goal,” she explained.
Although Hale now has a solid plan in place, she said she wasn't always perfect when it came to money and had to go through a big learning curve.
“The biggest financial mistake I made was downloading a pay later app, which helped me pay in four easy installments and saved me a lot of money,” she said.
“It was so convenient that I didn't have time to think about the overall cost or whether I really needed it.”
