Success secrets of top Aussie investors to help you save enough to become financially independent

Saving an extra $100 a month could be the answer to buying your dream home.

There are plenty of ways to achieve the great Australian dream of owning a property or properties, from putting a percentage of your earnings into an untouchable account to skipping that second takeaway coffee.

But the real trick of the trade is not spending money, even when you have plenty of it.

Investie Australia founder and buyer’s agent Lorna Wang said education about the property market and investing was the best place to start on your journey to financial independence.

“I think having the education is honestly so underrated when it comes to buying property or getting into the investment market,” Ms Wang said.

“The people you surround yourself with … they’ll have an influence on the direction that you take with your life.”

She said finding a mentor or buddying up with a friend who has similar goals was also incredibly important and had a significant influence on your trajectory.

Ms Wang said putting a portion of money into a bank account that can’t be touched went a long way towards a saving a home deposit.

“As soon as I get my pay check, I allocate a certain percentage into a savings account; it’s that pay yourself first principle,” she said.

“With society, there is so much emphasis on consuming; (purchases) that aren’t considered necessities, try and minimise them as much as possible.”

Savings calculator


Tips to saving big and buying your dream home 

  • Spend with long-term goals in mind. Missing out on certain luxuries in the short-term can pay off.
  • Stick to your budget.
  • Just because you have the money to spend on “nicer” things doesn’t mean you should.
  • Regularly invest money, even if its just a little bit.
  • Small daily choices can have a big impact when it comes to financial independence.
  • Educate yourself.
  • Surround yourself with like-minded people.