Has anyone heard of the Bonus Saver Account. We found an account today that is very helpful when trying to save for a mortgage. The amount you'll need to save for a home deposit will vary depending on the price range of the property you have inmind, but using a Bonus Saver account is a great way to prepare for the commitment of repaying a home loan. The banks generally don't like asking someone to make payments of more than 30% of their before tax income. If you can save the equivalent of that figure (after deducting any rent or other loan payments you're paying) you'll not only be increasing the amount of savings you have, you'll also be preparing yourself financially for the day that you start making repayments on your home loan. For example if you're earning $600.00 per week before tax and have no rent or other loan payments to make, ideally you should be saving $200.00 per week.

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