First Time Buyers Savings | 1 min read

New Year New Home

It’s been that time of year for four weeks. How are you doing as far as resolutions go?

For most, the list pretty similar; perhaps you did Dry January or took part in Veganuary? Perhaps you planned to save meaningfully, enough even to make a dent in the property deposit (Dry January probably helped there!) But now that February has come around, how about making sure the savings continue? StepLadder is here to help...

Property deposits are a savings goal that could be reached in months or even years. Our own focus group research has shown that building a savings plan toward a fixed goal, something only ~40% of prospective first time buyers say they do, could significantly accelerate progress. Combined with StepLadder’s unique offering that could reduce the average time taken to raise your property deposit by 45% versus saving alone, the consistent monthly contribution toward a fixed goal can be a breakthrough.

We agree with the familiar saying “even the longest journey begins with the first step.” We also think travelling is better with company. StepLadder’s collaborative finance alternative to saving alone is a new and unique proposition that matches qualified prospective first time buyers to circles of peers.

Finally, we agree with Tami: make the goals matter. We thought her article was worth re-reading for anyone flagging in February. For those getting started setting aside money every month, it’s not a slice of property deposit - taken together, it can be the key to owning your home! Read all about it on Forbes.com... Is now the right time to get started for you? Come find out here.

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First Time Buyers Savings

Michaela Regan

Michaela is the Head of Communications at StepLadder and is passionate about helping people be at their best!

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