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Thanks for all the really great replies guys it has given me plenty to think about.
I seen a friend recently turn a profit in the share market (5k to 20k) and was thinking thats an excellent way to make up some money for desposit. Though he also mentioned he has lost alot as well in bad investments. So it is risky but bluechip sounds like a good way to play it safe until I have enough disposable income that I can go risky.
Im really interested in saving and becomming rich [biggrin] It just seems if you don’t save it the money slips through your hands soo quickly. All my mates have taken jobs and only ended up in debt due to cars and so on.
I think im going to put my attack plan down to;
1. Work and buy a few nice things iv missed (nothing much).
2. Save into suncorp (5.25% interest)
3. Switch money into the share market into bluechip
4. Purchase a house!Id still prefer not to move into my first house as I know it will kill savings on bills. I think id prefer to use the first home buyers grant in the future when I plan to move out for good.
I really want to get as many assets as possible with minimal borrowing from the bank. Id hate to get to 30 and relised I own nothing.
I want to avoid the traps like credit cards and car payments as from what iv seen with friends this is where 90% of their money is lost.
Thanks for all your advice guys ill keep reading and keep at it they say the first 20 million is always the hardest [grad]
Thanks Endless Summer. That sounds like the right sort of thing to do but I was thinking while saving for my house investing the money I save into shares until I need it. I really need to understand the sharemarket better first.
I like the first home buyers grant but I don’t want to move out of home (too easy to save at home). Maybe I could list myself as living at the address (but not live there) and rent the house out at the same time… not sure if thats a good idea though [blink]
Where would you recommend I go to read about the ups and downs of the property market? I know I don’t want to buy in the up time thats for sure.
I also talk to my mentor often but the more views I get on what to do the better.