{"id":34179,"date":"2021-08-27T12:18:44","date_gmt":"2021-08-27T00:18:44","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=34179"},"modified":"2021-08-27T12:18:44","modified_gmt":"2021-08-27T00:18:44","slug":"strict-savings-rule-buys-three-houses","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/strict-savings-rule-buys-three-houses\/","title":{"rendered":"Strict savings rule buys three houses"},"content":{"rendered":"

PHOTO: After intensively saving from the age of 15, Ms Tran was able to buy her first home at 24. Picture: Supplied.<\/strong><\/p>\n

Growing up in public housing, Linda Tran started saving to buy a property at the age of 15. But she admits her strategy might not be for everyone.<\/p>\n

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Starting at the age of 15, Sydney woman Linda Tran saved intensively and by the time she was 23, she had amassed an impressive $100,000 for a home deposit.<\/p>\n<\/div>\n

The child of Vietnamese refugees, Ms Tran set the goal of moving her single mum out of government housing and saw property as a way to gain financial independence.<\/p>\n

A year later she bought an apartment in Sydney\u2019s southwest that she lives in with her mum.<\/p>\n

\u201cMy mum is the biggest cheerleader for me and I want to make her comfortable, especially since she\u2019s lived in government housing for her whole life,\u201d she told news.com.au.<\/p>\n

The marketing manager saved by working multiple part-time retail and casual roles at sporting and music events, as well as tutoring from the age of 15. While at university she also scored a full-time marketing role that allowed her to supercharge her savings.<\/p>\n

\u201cIt\u2019s all about disciplining your mindset and putting action behind what you want to work towards. That way you can hit those milestones, which leads to a bigger goal,\u201d she says.<\/p>\n

Ms Tran says she saved rigorously and would catalogue her expenses and income in a spreadsheet that she reviewed every six months. She also used a high-interest bank account and invested her money in the ASX and cryptocurrency as well.<\/p>\n

\u201cI did a lot of expense sheets which I drew up manually and would correlate back to my bank account,\u201d she explains.<\/p>\n

\u201cThis included what I spent, what I\u2019d foresee to spend in the next three to six months and what my disposable income would be as well.<\/p>\n

\u201cThis was really important when I went to buy my property and had to do my pre-approvals, income checks and get three months of expenses.\u201d<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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