Please note that this information is general in nature and shouldn't be construed as financial advice.
As I move closer to my mid-twenties, it seems that whenever I log onto Facebook, everyone and their mother is buying a house.
'We did a thing!' captions are coupled with beaming smiles and ‘SOLD’ signs. Every time, a wave of panic washes over me.
Will I get left behind in the great race to adulthood? How is everyone affording a house deposit all of a sudden? Is there something wrong with me for not even wanting one yet?
Home ownership has been a marker of stability and adulthood for generations, particularly in Australia. But in the last few decades, the process of clawing your way onto the property ladder has become tougher than ever.
With inflation, stagnating wage growth, higher cost of living and exorbitant house prices, many people are opting to spend their money on other life experiences.
There are loads of different timelines and pathways to get into home ownership (if that’s even something you even want). But savings for experiences can be equally rewarding for those that might not be emotionally or financially ready to buy a home.
To get a sense of what others are saving for in 2022, we asked seven women to share their greatest savings achievement, and how they got there.