Hilary Iyoha, the 25-year-old Londoner who saved $ 60,000 over two years to buy her first home.
Buy a house or apartment in times of world inflation it can be a mission impossible, and even more so for a young person. However, a woman is the exception to the rule and reveals how she has succeeded save $ 60,000 in less than two years.
Hilary Iyoha, 25 years oldworks as an investment banking analyst and bought a three bedroom property in Bexley, London, UK, earlier this year.
And now he shares his tips on how to save, so others can too.
Hilary Iyoha, proud of her purchase.
How to save to buy a house
“I have always been a financially intelligent young woman. Indeed As a kid, I used to save $ 12 for a weekly school lunch if I wanted to have something, “Hilary told the news agency. JamPress.
Hilary’s key rescue tips are pretty simple: eliminate all unnecessary expenses, use credit cards for cashback and create a budget that suits your needs.
In this way, the entrepreneur assures that she has saved $ 2,400 a month, which represents two thirds of her salary, for almost two years.
It is worth clarifying that Hilary lived with her family while she was saving, which means this he didn’t have to pay rent or other bills. Thus, of the expenses he has allocated the 24% to overheads.
This is the kitchen on the property that Hilary bought.
“The $ 2,400 was a good chunk of my monthly income at the time, but during the pandemic, when nothing was really open and I worked from home with almost no expense, things got easier“, he assures.
When it comes to “recipes”, she states that everyone thinks there is a very rigid model, but she believes there is a savings roadmap that is functional for each“.
The house the young woman bought has three rooms and a terrace. .
Hilary has clearly listed the keys to her success when it comes to managing money: “I would use my credit card to spend and then pay the balance in full the following month, thus avoiding any interest.”
“spend with my credit card It also has advantages such as accumulate points or mileswhich can be used to cover or reduce the cost of flights or purchases, “he exemplifies and adds:” Plus, I’ve sold days off at work, which has increased my monthly income. “
Education, finances and new home
Hilary began her search for a home in September 2021 and had made an offer on three properties before seeing one.
in love with one 1930s building with three bedrooms and terracewhich was close to his parents’ house and in good condition.
“It’s nice to see young women of color doing great things,” Hilary Iyoha mused.
“I was happy, I don’t think I fully registered that it was mine. I’m not always the most expressive person, but I was proud of myself“, admitted the young woman who received the keys in February 2022.
“The time between the acceptance of your offer and the moment you receive the keys can be quite long, so it’s easy to be disappointed, but in the end it’s worth it,” added the girl and reflects Mirror.
To have studied money banking and finance at university it gave Hilary a solid foundation of knowledge. However, she opens the game by recommending social networks as a drinkable site for developing financial education.
So Ilario shared her story and tips on her TikTok and Instagram account .
“I want people to see that it’s possible. You have to be smart and open with money. Of course my experience doesn’t apply to everyone, as people’s circumstances vary,” acknowledges the Londoner.
The bathroom in the house the woman bought.
And I take this opportunity to leave a message: “I also believe that representation is important: it’s good to see young black women doing great things“.
Source: Clarin
