Mastering your deposit: Tips to boost your savings

One of the biggest hurdles for many prospective first time home buyers and first time investors is affording the initial deposit.

While those who already own a home or asset have the ability to either sell or use any equity they have built up, novice investors will be required to stump up a sum of money to get their foot onto the property ladder.

However, short of “buying a cup of coffee less a week” (which is real ‘advice’ doled out to first timers on a regular basis), what are the actual savings tips that will let you get ahead?

Here are some collected tips on how to boost your savings, push up that deposit and see yourself purchasing a property sooner than expected. There are two basic areas to improve here – earning more or spending less.