Page 28 - The-Mortgage-Maximiser-Method-by-Thomas-Ilinkovski
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dŚĞ ŬĞLJ ǁŽƌĚ ŚĞƌĞ ŝƐ ĐŽŶƐŝƐƚĞŶĐLJ͘ ƵƌŝŶŐ ƉĞƌŝŽĚƐ ŽĨ ƟŐŚƚĞŶŝŶŐ ůĞŶĚŝŶŐ
ĐŽŶĚŝƟŽŶƐ͕ LJŽƵ ǁŽŶ͛ƚ ďĞ ĂďůĞ ƚŽ ŐĞƚ ĂǁĂLJ ǁŝƚŚ Ă ĨƌĞĞͲƌĂŶŐĞ ƐƉĞŶĚŝŶŐ ƉŽůŝĐLJ
ĂŶĚ ƚŚĞŶ ƟŐŚƚĞŶ LJŽƵƌ ƐƉĞŶĚŝŶŐ Ă ĨĞǁ ǁĞĞŬƐ ďĞĨŽƌĞ LJŽƵ ĂƉƉůLJ ĨŽƌ Ă ůŽĂŶ͘
DŽƐƚ ůĞŶĚĞƌƐ ůŽŽŬ ďĂĐŬ ƚŚƌĞĞ ŵŽŶƚŚƐ ŝŶƚŽ LJŽƵƌ ƚƌĂŶƐĂĐƟŽŶƐ͕ ƐŽ ďĞ ƐƵƌĞ ƚŽ
implement changes to your spending and saving that you can sustain.
Tips for saving for a deposit
,ĂǀŝŶŐ Ă ĚĞĐĞŶƚ ĚĞƉŽƐŝƚ ĐĂŶ ŚĂǀĞ ƐŽ ŵĂŶLJ ďĞŶĞĮƚƐ ǁŚĞŶ LJŽƵ ŐŽ ƚŽ ƉƵƌĐŚĂƐĞ
Ă ƉƌŽƉĞƌƚLJ͘ &Žƌ ƐƚĂƌƚĞƌƐ͕ LJŽƵ ǁŝůů ŚĂǀĞ ŵŽƌĞ ĐŚŽŝĐĞ ŝŶ ƚŚĞ ƚLJƉĞ ĂŶĚ ƉƌŝĐĞ
ďƌĂĐŬĞƚƐ ŽĨ ƚŚĞ ƉƌŽƉĞƌƟĞƐ ŽŶ ƚŚĞ ŵĂƌŬĞƚ ĂŶĚ LJŽƵ ǁŝůů ǁŝĞůĚ ŐƌĞĂƚĞƌ ƉŽǁĞƌ
ǁŚĞŶ ŝƚ ĐŽŵĞƐ ƚŽ ŶĞŐŽƟĂƟŶŐ ǁŝƚŚ Ă ůĞŶĚĞƌ ŽŶ ƚŚĞ ƚLJƉĞ ŽĨ ŵŽƌƚŐĂŐĞ LJŽƵ ǁŝƐŚ
to have.
zŽƵ ǁŝůů ĂůƐŽ ďĞ ŝŶ Ă ďĞƩĞƌ ƉŽƐŝƟŽŶ ƚŽ ƌĞƉĂLJ LJŽƵƌ ůŽĂŶ ďLJ ŶĞĞĚŝŶŐ ƚŽ ďŽƌƌŽǁ
ůĞƐƐ ŵŽŶĞLJ͘ ŚĞĂůƚŚLJ ĚĞƉŽƐŝƚ ŽĨ ŵŽƌĞ ƚŚĂŶ ϮϬй ǁŝůů ĂůƐŽ ŵĞĂŶ LJŽƵ ǁŽŶ͛ƚ
need to pay for Lender’s Mortgage Insurance.
KĨ ĐŽƵƌƐĞ͕ ƚŚĞƌĞ ĂƌĞ ƐĞǀĞƌĂů ǁĂLJƐ LJŽƵ ĐĂŶ ƉƵƌĐŚĂƐĞ Ă ŚŽŵĞ ǁŝƚŚ Ă ƐŵĂůůĞƌ
deposit if necessary. But to get you started on achieving your goal deposit
ĂŵŽƵŶƚ͕ ŚĞƌĞ ĂƌĞ ƐŽŵĞ ƋƵŝĐŬ ƟƉƐ ƚŽ ŚĞůƉ ŐŝǀĞ LJŽƵƌ ƐĂǀŝŶŐƐ Ă ŚĞůƉŝŶŐ ŚĂŶĚ͗
• hƐĞ Ă ŚŝŐŚͲŝŶƚĞƌĞƐƚ ĂĐĐŽƵŶƚ ;ǁŚĞŶ ŽŶĞ͛Ɛ ĂǀĂŝůĂďůĞͿ ĨŽƌ LJŽƵƌ ŚŽƵƐĞ
ĚĞƉŽƐŝƚ ƐĂǀŝŶŐƐ ƐŽ LJŽƵ ǁŝůů ŐĞƚ Ă ƉůĞĂƐĂŶƚ Ɛƚ ĞǀĞƌLJ ŶŽǁ ĂŶĚ ƚŚĞŶ͘
• dŚŝŶŬ ĂďŽƵƚ ƚĞƌŵ ĚĞƉŽƐŝƚƐ ŽĨ ŽǀĞƌ Ψϱ͕ϬϬϬ ƚŚĂƚ ĐĂŶ ŶĞƚ LJŽƵ ďĞƩĞƌ
ƌĞƚƵƌŶƐ ĂŶĚ ǁŝůů ĂůƐŽ ůŽĐŬ LJŽƵƌ ŵŽŶĞLJ ĂǁĂLJ ƐŽ LJŽƵ ǁŽŶ͛ƚ ďĞ ƚĞŵƉƚĞĚ
to dip into it.
• ^ĂǀĞ ĂŶLJ ĞdžƚƌĂ ĐĂƐŚ͘ /Ĩ LJŽƵ ĐŽŵĞ ĂĐƌŽƐƐ ƐŽŵĞ ĞdžƚƌĂ ŵŽŶĞLJ͕ ƚŚƌŽƵŐŚ
Ă ƚĂdž ƌĞƚƵƌŶ͕ Ă ǁŽƌŬ ďŽŶƵƐ Žƌ ĂŶ ŝŶŚĞƌŝƚĂŶĐĞ͕ ŝŶũĞĐƟŶŐ ƚŚŝƐ ŝŶƚŽ LJŽƵƌ
ŚŽƵƐĞ ĚĞƉŽƐŝƚ ĂĐĐŽƵŶƚ ǁŝůů ŚĞůƉ LJŽƵ ƚŽ ƌĞĂĐŚ LJŽƵƌ ŐŽĂů ƐŽŽŶĞƌ͘
• ŽŶƐŝĚĞƌ ŵŽǀŝŶŐ ďĂĐŬ ŚŽŵĞ͘ /Ĩ LJŽƵ ĂƌĞ ƌĞŶƟŶŐ͕ ĐŽŶƐŝĚĞƌ ŵŽǀŝŶŐ
ďĂĐŬ ŚŽŵĞ ǁŝƚŚ ƚŚĞ ƉĂƌĞŶƚƐ ĨŽƌ Ă ƐŚŽƌƚ ƉĞƌŝŽĚ ƚŽ ĂůůŽǁ LJŽƵ ƚŽ ĐŽŶǀĞƌƚ
ƚŚĞ ŵŽŶĞLJ LJŽƵ ǁĞƌĞ ƐƉĞŶĚŝŶŐ oŶ ƌĞŶƚ ŝŶƚŽ Ă ŐƌŽǁŝŶŐ ŚŽƵƐĞ ĚĞƉŽƐŝƚ͘
ĨĞǁ LJĞĂƌƐ ŽĨ ƐĂĐƌŝĮĐĞ ĐĂŶ ŵĂŬĞ Ă ŚƵŐĞ ĚŝīĞƌĞŶĐĞ ŝŶ ƚŚĞ ůŽŶŐ ƌƵŶ ŝĨ
ŝƚ ŐĞƚƐ LJŽƵ ŝŶƚŽ LJŽƵƌ ŽǁŶ ŚŽŵĞ ƐŽŽŶĞƌ͘
• ŽǁŶŐƌĂĚĞ LJŽƵƌ ĐƵƌƌĞŶƚ ƌĞŶƚĂů ƉƌŽƉĞƌƚLJ to a smaller property or
ŽŶĞ Ă ůŝƩůĞ ĨƵƌƚŚĞƌ ŽƵƚ ŽĨ ƚŽǁŶ ƚŽ ƐĂǀĞ on your rent expenditure.
• Be consistent ǁŝƚŚ ŶŽƚ ƐƉĞŶĚŝŶŐ ŽŶ ƚŚĞ ŝƚĞŵƐ LJŽƵ ŝĚĞŶƟĮĞĚ ŝŶ LJŽƵƌ
budget challenge that you do not ŶĞĞĚ.
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