Young Aussie gives her generation a brutal wake-up call over the single mistake many are making - and she thinks it's why they can't afford a house By Olivia Day For Daily Mail Australia Published: 00:13, 22 August 2024 | Updated: 00:28, 22 August 2024 e-mail 14 View comments A young Australian woman says people who want to save for a house deposit need to stop spending money on dining out, beauty treatments and vapes. Zali Gillings , 24, said people should quit complaining about not being able to buy a house or start a business if they couldn't adopt stricter saving habits. 'You know what's f***** me off lately? The amount of people that complain about the cost of living and [say] "I'll never be able to save for a house" or "I'll never have money to start a business" but then they'll still get their nails done every week, get their hair done, lashes, all these types of things,' she said in a video posted to social media.
'Go out for dinner, vaping, smoking...
They want to complain about the cost of living. Babe. I really don't think you understand how much money you could be saving.
' The South Australian woman shared one of the money-saving hacks she had used to save enough for a house deposit. 'When I was saving for a house, a question I would ask myself when I would go to buy something is would I rather be gifted the amount of money that it's worth,' she said. 'For instance, if I would want my lashes done, I would think, would I rather someone gift me a lash set or would I rather someone gift me $120.
'And I would always choose the money. Which tells me, babe you don't need those lashes, that's more money towards a house deposit.' Ms Gillings said people who want to save for a house deposit need to stop spending money on beauty treatments, dinners out and vaping Zali Gillings , 24, said people should quit complaining about not being able to buy a house or start a business if they couldn't adopt stricter saving habits Ms Gillings said there were some Australians already living on the 'bare minimum' who were not getting their hair, lashes or nails done.
'But the majority of people who are saying they can't save money, they could if they just got their priorities right,' she said. Ms Gillings told Daily Mail Australia that her method would not suit everyone. 'I'm certainly not ignorant to the fact that the house prices and barrier to entry is at an all time high, I was just giving a simple tip that helps me save money,' she said.
'The video doesn't apply to everyone's circumstances and I'm certainly not saying that no nails for a year will give you enough for a house deposit. 'It was more just about how all the little things add up.' Aussies were divided by Ms Gillings' approach to saving money.
Read More Insane amount you now need for a deposit to buy a typical house 'So we ain't allowed to live? Rather live life and enjoy it then have no memories,' one woman commented. 'I will just say nails, hair, lashes etc can be someone's self care and can be very important for someone's mental health,' a second added. A third said: 'Literally stopped everything to save for a house.
Got a mortgage and still can't afford to go back to my old lifestyle. It's all about priorities'. 'Because what's the point of trying to save when it feels like it's too far out of reach.
I'd pick the nails,' a fourth said. A fifth agreed: 'If buying a house is impossible (which is is for many people), why not get the nails and the vape and enjoy whatever you can.' However, many agreed and said they had ditched beauty treatments and other luxuries in order to save.
'I've given up the lashes and the nails. I can afford it but would rather save for a deposit. I love the idea of saying, "would I rather".
.. A very helpful tip!' one said.
A second wrote: 'I had a friend complain she had no money to pay for rent and she's not sure where she's gonna live...
then in the next breath she told me she got a facial in the arvo because she'd had a hard week.' 'I still go out for special occasions, but I won't go out all the time or eat out a lot. But I see people complain they don't have money, but I see them spend it on one-time useless things,' a third said.
Saving up for a house deposit is now taking the average buyer more than 15 years - even when putting away as much as $400 a month 'Oh, literally. I'm 21 and have just bought a four-bedroom house without any family help. If you can't do a year or two of going without some luxuries to help set yourself up, that is a problem,' a fourth commented.
Australians looking to get into the property market aim to save an average of $67,474 for a deposit, a survey by financial comparison group Mozo found. If someone is able to save $359 a month, it would take them 15 years and eight months to reach that $67,000 figure. For those saving less than $200 a month, setting aside money for a mortgage deposit would take at least 21 years and eight months.
Even that saving goal is modest, as it would only be enough for a 10 per cent deposit to buy a $674,737 house or unit, meaning the buyer would need to pay lenders mortgage insurance. Share or comment on this article: Young Aussie gives her generation a brutal wake-up call over the single mistake many are making - and she thinks it's why they can't afford a house e-mail Add comment.
