Top ways to increase your savings

🥑 Can You Save for a Home Deposit and Still Eat Avo On Toast?

Spoiler: yes. But it’s going to take more than skipping brunch to build your savings. Whether you’re aiming for your first home or just want to stop watching your money vanish like socks in the dryer, here are some smart, doable ways to boost your savings—without losing your sanity.

💳 Step 1: Know Where Your Money’s Going

Cashless payments make it way too easy to lose track. Tap, swipe, forget. Start by reviewing your bank statements and categorizing your spending. You might be shocked at how many “just this once” purchases are quietly sabotaging your savings.

🛒 Step 2: Trim the Essentials (Yes, It’s Possible)

Some costs are non-negotiable. But many can be trimmed with a little creativity:
• Housing: Consider moving in with family or downsizing temporarily. Short-term discomfort = long-term gain.
• Food: Meal plan, bulk buy, and stick to a takeaway budget. Your future self will thank you.
• Bills: Shop around for better deals. Loyalty doesn’t always pay—threatening to switch often does.
• Transport: Walk, ride, carpool, or use public transport. Every skipped petrol stop is a win.
And if you’re carrying credit card debt, aim to pay it off monthly to dodge interest charges that eat into your savings.

🧥 Step 3: Curb the Splurges (Without Going Full Hermit)

You don’t need to give up everything fun. Just set limits:
• Create a weekly or monthly “fun budget” and stick to it.
• Reduce the limit gradually over time.
• Only buy what’s planned—then stop scrolling.
• Get your family on board with gift caps. It’s easier when everyone’s in it together.
Fun fact: 73% of Aussies admit to overspending. You’re not alone—but you can be the exception.

📉 Step 4: Cut the Dead Weight

Time for a subscription audit:
• Cancel unused services.
• Downgrade your mobile or internet plan if you’re always paying for excess.
• Ask yourself: Are you really using that gym membership?
Every dollar you reclaim is one step closer to your own front door.

🏡 Final Thought: Every Dollar Counts

Saving for a home isn’t about deprivation—it’s about direction. With a clear plan and a few smart swaps, you can build your deposit faster than you think. And yes, you can still enjoy your avo on toast… just maybe not every weekend.

Want help mapping out your savings strategy or figuring out how close you are to your home loan goals? Get in touch with CBM Mortgages and let’s make it happen.

Let me know if you want this tailored to a specific suburb page or turned into a social post with a cheeky hook. I’ve got ideas.

Read our blog on the expansion of the First Home Deposit Scheme here
Read our blog on the different First Home Buyer Options available here
Go to our dedicated page on First Home Buyers here
Go to our extensive mortgage calculator tools here

Disclaimer: The information in this article is general in nature and does not constitute financial advice. Before making any financial decisions, consider your personal circumstances and seek guidance from a licensed professional. CBM Mortgages is here to help—but we don’t know your full story until we chat.

Rewritten by Craig McDonald 06/09/2025