How to Secure a Home When You Spend All Your Money on Avocado Toast
If you’re a millennial and have trouble saving at home, Australian millionaire Tim Gurner gives you a simple tip: Stop eating so many avocado toast . This way you can never save money for a house.
“When I tried to buy my first home, I didn’t buy a broken avocado for $ 19 and four cups of coffee at $ 4 apiece, ” he told 60 Minutes . “We are now at a stage where the expectations of young people are very, very high.”
All you have to do is lower your toast expectations a little. Try our handy calculator to see how easy it is to save money with this customization of your routine. Just enter the cost of the house you want to buy, the price of avocado toast (about $ 20, I was told) and the number of times a week you eat this extravagant dish in a restaurant. Enter numbers on the line below each label:
Avocado Toast Savings Calculator
The median home price in the US is now $ 196,500. If avocado toast is $ 22 a serving and you currently eat it twice a week, skipping those meals will save you enough for a 20% down payment in just 17 years! You will probably lose weight too.
If you are not currently eating $ 22 avocado toast, then you may not be able to afford a home in this economy. Even Gurner needed a loan to start his real estate business, worth around 1,700 avocado toast.