3 Ways to Save for a Deposit Faster (Without Skipping Coffee)

Let’s be honest — if skipping coffee was the magic trick to buying a house, we’d all be homeowners already.

The good news? You can save for your first home without turning into a hermit who eats noodles and counts lattes.

At Nude Home Loans, we’ve helped plenty of first home buyers save smarter — not harder.

Here are 3 proven strategies that can actually speed up your deposit savings without sacrificing your entire lifestyle.

💼 1. Use the First Home Super Saver Scheme (FHSSS)

This one’s a bit of a secret weapon — and not enough people use it.

What is it?

The FHSSS lets you save for your deposit inside your super fund.

• Up to $15,000 per year (and $50,000 total)

• You can withdraw it later to buy your first home

• You get the tax perks of super while saving

Why it works:

• Your savings grow faster thanks to lower tax

• It’s a “set and forget” method — so less temptation to spend it

Example:

If you salary sacrifice $250/week for a year (~$13k), you could end up ahead by $2k–$3k compared to saving it in a normal bank account.

Nude Tip: We’ll check if your employer allows salary sacrifice and help you plan your FHSSS strategy.

🤝 2. Switch to a High-Interest Saver (and Automate It)

Your everyday bank might not be cutting it.

Instead:

• Open a high-interest online saver just for your home deposit

• Make it separate from your spending account

• Set up an automatic weekly transfer (even $100 counts)

Why it works:

• Keeps your deposit growing with compound interest

• Reduces the urge to dip into it when Uber Eats looks tempting

Bonus tip:

Some banks boost your interest rate if you don’t withdraw — perfect motivation to keep your hands off.

Nude Tip: We can recommend high-interest savings accounts and help you budget based on your goal.

📈 3. Team Up: Co-Buying or Gifting Options

Sometimes the fastest path forward is not doing it solo.

Co-Buying

• Team up with a partner, sibling, or mate

• Split the deposit, the loan, and the repayments

• Works best with a solid co-buying agreement

Parental Gifts or Guarantors

• Some buyers get a cash gift from family to boost their deposit

• Others use a guarantor loan where a parent backs part of the mortgage

Both options can:

• Slash your required deposit

• Help you avoid LMI

• Get you into the market faster

Nude Tip: We’ll show you how to set this up safely and legally (no awkward family fallouts, promise).

Bonus: Set a Smart Goal & Get Support

No matter your strategy, here’s what works:

• Pick a target suburb (so your goal is real, not vague)

• Set a savings goal + timeline

• Get professional advice early — not just when you’re “ready”

Saving without a plan = slow progress. But with the right support, you could be inspection-ready way sooner than you think.

🎯 Let’s Build Your Deposit Strategy (Coffee Included)

You don’t need to kill your lifestyle to hit your savings goals.

At Nude Home Loans, we’ll help you:

• Map out your deposit strategy

• Explore grants, schemes, and bank options

• Maximise what you’ve already saved

👉 [Book your free savings session with Nude Home Loans]

Simple steps. Real strategies. No latte shaming.