This week we’re talking about saving up for your first deposit: how much you need to save, and how to make it happen. It’s not the sexiest topic of all time, but it’s important: because the sooner you get off the mark, the sooner the “snowball effect” kicks in and sets you on the track to real wealth through property.
We talk about:
For specific saving advice, we recommended:
Rob B brought Arnold Schwarzenegger’s biography, Total Recall, to the Resource of the Week table as he’s been enjoying listening to the audiobook. Did you know that Arnie made his money in property before he was a bodybuilder or movie star? Nor did we, which is just another reason why you should pay attention to his inspirational story.
And our news story this week is all about downsizing – starting with the over 55s, but it’s a trend which applies to younger people too. It’s estimated that 47% of UK homes are under-occupied, and it seems that people are now trading down to free up cash and reduce running costs.
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