Focused Queen Saves R40k Per Month for 2 Years and Buys Her 1st Home at 25, Says It’s All About Budgeting

Focused Queen Saves R40k Per Month for 2 Years and Buys Her 1st Home at 25, Says It’s All About Budgeting

  • A young woman recently shared how she was able to buy a three-bedroom house by cutting her expenses and saving big for two years
  • Hilary Iyoha saved R40 000 a month, which was two-thirds of her salary, while living at home with her family
  • She shared that she has always been financially savvy and recognised the value of money as well as how to make it work for her

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A focused babe inspired many after revealing how she saved R40 000 a month for two years in order to buy her first home at the age of 25.

South-east London resident, Hilary Iyoha, bought a three-bedroom house in Bexley, UK earlier this year after putting a considerable amount away per month into her savings.

Savings, Finance, Property, Women in Excellence, Woman, Saves R40k Per Month, 2 Years, Buys Her 1st Home, 25
A financially savvy woman saved a large per cent of her salary every month to afford her first property. Image: Jam Press/ Hilary Iyoha
Source: UGC

The investment banking analyst was living with her family while saving, meaning she didn't have rent or other bills to pay.

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Speaking to the Daily Mail, Hilary said she has always been financially savvy and that even as a kid she would save her weekly lunch money if she wanted to buy something.

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“I've always recognised the value of money, but understanding how to use it and make it work for you is the real tea.”

Hilary's key tips for saving are fairly straightforward: cut out any unnecessary spending, use credit cards for cash-back and create a budget that works for your needs.

The savvy businesswoman put aside £2 000 (about R40 000) per month – representing two-thirds of her salary – for almost two years, Metro reported.

Out of her outgoings, 24 per cent went to general expenses.

“Two-thousand pounds was a good part of my monthly income at the time, but during the pandemic where nothing was really open and I was working from home and living with family rent-free, with little to no financial responsibility, it wasn't too hard,” Hilary said.

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Aside from budgeting, Hilary shared a few more specific tips on how others can save money – whether they live at home or not.

She said would use her credit card to spend and then pay back the full balance in the following month, thereby avoiding any interest. Hilary also sold her leave days at work, which increased her monthly income. She reduced her pension contribution by around 20 per cent.

The super saver believes in giving back too, having donated some of her monthly salary to charitable causes, including her local church.

Young woman celebrates being done with res life and getting her own apartment

In another story, Briefly News reported that a young woman is done with student accommodation and is now the new proud lessee of an apartment.

Twitter user @nyisist_ to the bluebird app to share her delight as she posted a snap of herself dangling the keys to her new home, revealing a glimpse of the spacious kitchen.

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She captioned the post:

“I’m done with res life.”

Whether it is a house or a flat, whether you’re renting or buying, very few things say you’re doing well as an adult, like owning your own space, and @nyisist_ can be proud of her big moves.

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Source: Briefly News

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