Advice pays off

While decluttering this week I ran across the first issue of Money I ever purchased – April 2012. At 48, living in a rental property with four children headed towards university and almost nothing in my super, I was drawn to the cover story “Get rich on any wage”.

I followed the advice to salary sacrifice and my husband opened a (now defunct) first homeowner savings account. I bought a subscription to Money, which I’ve had since, and have continued to use the advice found there to save hundreds of dollars each year by switching electricity providers, car insurance, phone plans, etc.

Five years later, three of our children have finished university with financial assistance from us, I have increased my superannuation from $37,000 to $135,000 and this week my husband and I are buying our first home with a deposit of $90,000. With our current savings rate it should be paid off in six years. All of this on a combined teacher’s and storeman’s wage.

Without Money we wouldn’t be headed towards home ownership and the super “sweet spot” of $400,000 for a couple. Thanks to you our retirement is now looking very hopeful. Linda, Vic