May 21st, 2017 8:10 AM by Jackie A. Graves, President
Photo by Jeremy Keith.
If you’re a millennial and
having trouble saving up for a home, Australian millionaire Tim Gurner has some
simple advice for you: stop eating so much avocado toast. You’ll
never be able to save for a home that way.
I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and
four coffees at $4 each,” he told 60 Minutes. “We’re at a point now where
the expectations of younger people are very, very high.”
you have to do is lower your toast expectations a little. Try our handy
calculator to see just how easy it is to save money with this tweak to your
routine. Just enter the price of the home you’d like to buy, the price of
avocado toast (around $20, I’m told), and the number of times a week you eat
this extravagant restaurant meal. Type the numbers on the line below each
Top of Form
Price of your dream home:
Price of avocado toast in
How many times a week do
you currently eat avocado toast?:
Bottom of Form
You will need to skip
this many avocado toast dinners:
To be able to afford a
20% down payment on your house in this many years:
The median house price in the
US right now is $196,500. If avocado toast costs $22 a serving, and you
currently eat it twice a week, skipping those meals will allow you to save
enough for a 20% down payment in just 17 years! You’ll probably lose some
weight in the process, too.
you currently don’t eat $22 avocado toast, then perhaps you can’t afford a
house in this economy. Even Gurner needed a loan to get started in the real
estate business—about 1,700 avocado toasts’ worth.
Skwarecki - To view the original article click here