1. Rent out a room on a week by week basis
If you have the capacity you should consider renting out a room. Think about making sure that you have Wi-Fi available for your tenant and understand that you will need to make some sacrifices.
2. Do you have a bungalow or granny flat or space for one?
Check your council regulations and think about having a permanent renter to supplement your income.
3. Think about using public transport instead of a car
You could save thousands on maintenance, petrol, registration and insurance.
4. Have a budget
Use a budget and consider saving on things like holidays and pay TV. Minimising the smaller expenses like coffees and lunches all add up as well.
5. Review your home loan regularly
You can save thousands by shopping your home loan around.
6. Make extra repayments on your home loan (as long as your home loan will allow it) as frequently as possible
If you pay your loan off in 25 years instead of 30 years you could save thousands
