In this market. With interest rates where they are. With deposits the size they are. Take a moment to just acknowledge that buying a property is a bloody big achievement to celebrate.

But, then (usually) the oh sh*t moment kicks in.

You realise what you have just purchased. A large asset. A large loan.
And suddenly, not much cash to fall back on.

You feel like you are back at square one.

This is so common. Because buying property is spenny, and most people are throwing all the cash they got into it, and then feel quite a sudden pang of pain when they see their once healthy savings pot, dwindled down considerably.

We call it asset rich and cash tight. And it can absolutely feel like starting over.

But you haven't really. You've entered your next chapter. It's one to feel immensely proud of (as you scan the baked beans aisle for your next culinary delight).

Seriously, we need to celebrate more than weddings and babies. Buying a room (or house as it were) of ones own is a massive achievement. And we should have a gift registry situation normalised for that life event (joking but also, not at all joking).

Every time you open your account and want to cry, its a matter of reminding yourself where that money went. What you have for it - what that means for you and your longer-term goals. 

What you do, or do not do, in this phase matters.

If cashflow feels tight, start slow. But start.

Small wins first:

• Build a mini cash buffer purely for overspends or whoopsies, even $500 to $800. Something that stops every surprise expense from going straight on a credit card.
• Then begin stacking a proper emergency fund again, even if it is $100 a fortnight. Anything is better than nothing.
• Consider using your offset account to house that buffer so your cash reduces interest while staying accessible. You may be able to set up multiple offsets and name them for different purposes.
• Automate it so you are not relying on willpower.

• Remind the people in your life that you just got into a committed and long-term situation-ship with your lender, so you're looking for fun, free (or cheap) events and catchups henceforth. That you won't be able to spend like you may have once and you are keen for their help to still have fun whilst you build back your savings.

Saving for a deposit took time. Rebuilding savings will too. Do not be too hard on yourself.

And no, I am not Dave Ramsey. I am not about to tell you the only time you should see a restaurant is if you are working in one. Yeah, nah. 

But depending on your goals, there may be a short season where you dial a few things down. Not forever. Not miserably. Just intentionally. Enough to rebuild your comfort level with having debt and not much cash.

Because often the discomfort is not just the numbers. It is the vulnerability.

A few more small wins that compound over time:

• Review your insurances so you are properly protected.
• Set a calendar reminder to review your rate in six months.
• Track your spending for 30 days so you actually know your numbers as a homeowner.
• Celebrate each repayment. You are building equity.

Big wins are rarely dramatic. They are usually boring and consistent.

You did not start over.

You levelled up. Remember that my friend. And maybs consider having a pot-luck house warming where everyone brings something and ask for some herbs for the balcony, or seeds for the garden or something that it's expensive from them, but will bring you joy and save you moolah in the long run. 

Have a money dilemma?

Money dilemmas can be a nightmare! They can leave you up all night ruminating about what to do, have you feeling alone and isolated or just plain ol' stuck. So, we are here to help. I am going to tackle one a week and give you my unbiased, no BS general thoughts on how to tackle your conundrum. We would love for you to send yours (or someone you know) in. 

Obvs all of this is general advice only... especially important to note any and all of the comments above do not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs.