One of the largest household budget items is the cost of housing. When moving house there is a lot to think about. Watch our short video with some hints and tips or download our Housing factsheet here.
It’s important to consider all the costs before signing on the dotted line. If the rent is more than 30% of your income it might be too expensive. Remember, you will likely need to pay a bond, usually equal to 4 weeks rent, plus 2 weeks rent upfront.
Before you commit to a new rental agreement, our Financial Counselling team can help you work through your budget and decide if the property is affordable.
If you are leaving a property, you may need to pay for a removalist and cleaning fees in addition to your new property costs.
After you’ve transition out of Defence subsequent moving expenses are not covered and need to be factored into your budget.
Last edition we included some helpful FinWell tips about car loans, servicing, and repossession notices. If you missed it, read it here now.