Highlights
- For 33-year-old Kyle Navallo, it does take sacrifice and hard work
- Self-control and discipline are essential in keeping his financial plans on track
- Rewarding himself and knowing his limits helped him to stay motivated to achieve his financial goals
There is a popular Filipino saying and it goes "Kapag may tiyaga, may nilaga".
This very philosophy was key to Klyde Navallo in buying his first home in his early 30s. Buying your own house is usually not a go-to for people of his age, but Kyle tends to differ.
Working for a decade now as a nurse in Melbourne, Kyle had been planning to buy a home way before he arrived in Australia. To achieve this, he strictly disciplined himself to take control of his finances and change his lifestyle.
It was not an easy journey for him. He started by having a fixed saving and sticking to his budget. He had to cut off his unnecessary spending such as eating outside, limiting to only travelling once to the Philippines and hand picking when to do shopping.
By doing these, he was able to make a down payment for his dream home. He also advises people to make a list of priorities, and whenever you are tempted to buy something, you need to assess whether it is a need or just a want. You always need be reminded not to spend more than what you earn.
"It is not that you are restricting yourself, you also need to reward yourself. You just have to understand your limits."
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