25. Budget cash flow
Make sure you have a realistic budget in place for your lifestyle and stick to it.
Get good with forecasting the balance between income and expenses. Your budget helps you save for a deposit; it highlights how to tight cash-flow might get it; it forces you to think forward; and to consider everything. Don’t set a budget that is too tight to enjoy your life. Remember, property is a long-term investment. If a bank rejects your attempts for finance, heed its warning, and get busy reducing debt or improving cash flow; don’t find sneakly workarounds as these may land you in cash flow trouble.