HOUSE THAT?
I bought my first house at 22 and saved up a £80K deposit thanks to side hustles, a four point plan and a festival ban
With contactless payment small purchases soon add up, so this super saver has a trick to keeping a tight budget.
IF you've looked in an estate agents' window recently, you'll know just how hard it is to get on the property ladder.
However, one savvy young woman has bought her first home at 22 after saving £80,000 for a deposit – and she says anyone can do it.
4
4
Hannah Koumakis previously hit the headlines after revealing how she earned £67 a month from her parents without doing any chores before learning how to make her own money at the age of 14.
The 24-year-old took to washing cars and walking dogs to earn some spare cash, which taught her a valuable lesson in budgeting.
Now, she shares her money-saving tips with her 127,000 followers on TikTok, (), to inspire others – and claims she has saved £80,000 in two years, enabling her to buy her first property.
“Saying no to the festivals, concerts, holidays, and clothing items has all led me to where I am today,” the content creator and business owner told .
“I feel like my hard work has paid off.
“It’s definitely a pinch-me moment when I see the home.
“I still have to say to myself ‘this is mine’, but it still doesn’t feel real.
“It feels like such an accomplishment."
Most read in Fabulous
Hannah managed to stash away 40% of her income in order to save for the property, which she estimates was around £970 ($2,000 NZD) per month.
Her salary when she purchased her home was £30,700 ($63,000 NZD), but thanks to her side hustles, the savvy saver was able to add an additional $10,000-15,000 (£4,883 - £7,324) per year – as well as her commitment to cutting costs wherever possible.
These side hustles include running a vintage selling site on Instagram, pet sitting, babysitting, event work, being an extra on TV sets, supermarket activation, and more.
She said: “I started saving for my first house when I was 12.
“I just realised how much I loved property and how much I loved houses and it was from the age of 12 that I would be flicking through the property presses.
“I was fascinated by property and knew I wanted my first home by 21.”
Spending £219,500 ($450,000 NZD) on her home, Hannah says it’s all down to these top tips.
HAVE A TIGHT BUDGET
Hannah believes holding yourself accountable is crucial when it comes to saving pennies.
The key? Be ruthless.
She said: “I have made spending money ‘hard'.
“Implement a system that requires you to write down everything.
“You can’t spend money and forget about it.
“Budgeting holds me accountable as I know what I can and can’t spend.
“I use different accounts for different areas of my life, such as ‘entertainment’ and others.
“If I have money in my ‘entertainment’ account, I don’t feel bad for spending money out on a fun evening with friends.”
SIDE HUSTLE
As a self-proclaimed “queen of side hustles” the New Zealand native says it’s vital to have income on the side to boost your savings.
Hannah said: “Always have something on the go, as this gives an extra helping hand.
WORK FORWARDS
The 24-year-old advises weekly savings goals.
She said: “If you want to buy a home at 30 and you are 25 now, that gives you five years.
“Determine how much you need by the age of 30 and work backward to determine how much you should save each week.”
KEEP READING
She added: “Reading books is important.
“Nowadays I feel people tend to watch TikToks, so follow people that are inspiring and give you lots of tips.
“But make sure you implement these tips.”
READ MORE SUN STORIES
Despite her parents giving her a hefty pocket money splurge of over £100 a month growing up, Hannah created a system where she appreciates her earnings.
She advises logging your spending on paper too, something she’s ensured takes centre stage in her saving methods for the last decade and a half.
4
4
Topics