HECS Debt or a House Deposit: What Should Young Australians Prioritise?

For me paying down a headset should not be the first priority for young people here in Australia and that is because the debt only goes up with the cost-of-living which is inflation and I believe we have bigger fish to fry and that is to build up a big house deposit for future homeownership. Understanding the Australian property prices at such extreme levels we are going to need larger Deposits than ever so when we buy we can do it with less debt as possible and therefore hopefully have some balance in our lives. The first home super saver deposit scheme for me is so ridiculously underused. One of the reasons why is because people have been taught that they can have it now or as a little as 5% deposit and I understand why corporations and banks want this because this means a transaction today and people buying have the feeling that if they do not by now the prices will continue to go up and become further out of reach. So my devices do not worry about your ex dad and build a big deposit utilising the first home super savers scheme. General advice only. #robgoudie #superannuation #investing #financialplanning #financialplanning

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Robert Goudie is an Authorised Representative (No. 235974) of AFSL 495401.