8. If you haven’t won the parental lottery, check out the First home loan deposit program.

9. Do not spend on a wedding what could be a deposit at home.

ten. You don’t have to be Warren Buffet to invest in stocks. With micro-investing sites and apps, like Pocketbook, Raiz, and Spaceship from CommSec, you can start investing with small amounts. Always check the charges first.

11. You do not know where to start ? Invest in exchange-traded funds (ETFs) that track a broad index, such as ASX200.

12. Your super is real money. Contribute more, if you can, to maximize tax relief. You will only pay 15 cents per dollar of tax, as opposed to your marginal tax rate.

13. If your Super Balance is less than $ 500,000, you can carry over unused concessional cap amounts (currently $ 25,000 per year) from previous years. Check your MyGov account.

14. If you’re going to super tip your after-tax dollars super extra, be sure to claim a tax deduction at tax time for a good tax refund.

15. Buy second-hand. Overcome the “ick” factor. Use Facebook Marketplace or Gumtree to buy and sell your business.

16. If you are buying in a store, ask the salesperson, “What’s the best price you can afford for this?” ” Smile.

17. Buy from Aldi. It is certainly cheaper.

18. Don’t waste food. Freeze things before they go out.

19. Cook at home as much as you can.

20. Shop for everything from insurance to gasoline, even tires.

21. Increase your insurance deductibles – the costs you agree to pay in the event of a loss – to take advantage of lower premiums.

22. Only pay for “extras” health insurance if you can see that your benefits received will exceed the premiums you pay.

23. After 31 years, maintain private health insurance to avoid paying the load of lifetime health coverage on policies. You can give up coverage for just under 3 years while avoiding charging.

24. If you earn more than the income thresholds for the Medicare Levy supplement, purchase the most basic hospital coverage to avoid paying it. It will probably be cheaper than the supplement.

25. Use privatehealth.gov.au shop around for Medicare.

26. Go to energymadeeasy.gov.au for cheaper electricity bills. In Victoria you must use compare.energy.vic.gov.au.

27. Try whistle.com.au for Internet and Telco offers.

28. For loans, use Canstar, PriceCity, Searcher and Compare the market.

29. Invest in your health. You are your best asset. Your ability to generate income depends on your physical and mental health. Spend some money to protect them both.

30. In salary negotiations, always let them make the first offer. Otherwise, ask twice for what you want and be happy when you have half. Be prepared to walk.

31. Do a job in which you have a “comparative advantage” – one that both suits your skills and that you can do relatively better than everyone else.

32. Remember, the real cost of something is what you give up to get it. This includes not only the money and time, but also the “opportunity cost” of the best thing you could have done with that time and money. Choose carefully. Live deliberately.

33. Travel as much as you can. Set up “funds for the future” where you contribute a little each month to give yourself a great vacation.

34. A man is not a financial plan. Plans go wrong. Always maintain your financial independence.

35. Childcare costs as much each year as the fanciest, sandstone-clad private school. Prepare for it.

36. Kids don’t cost as much as you might think because your lifestyle adapts to them.

37. You don’t need a million dollars to retire. The old age pension is not going anywhere and many people will use it to supplement their retirement income.

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38. Save for tomorrow but also live for today.

39. Life passes quickly but is also long (touch wood). Plan it.

40. You are capable of accomplishing much more in 40 years than you ever might think.

With time and patience, you can afford the life you want. Small differences today can make a big difference to your financial future. You got this.

You can follow Jess’ budget and financial adventures on Instagram at @moneywithjess and subscribe to his free weekly email here.



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