Man buys home living off $2.50 per meal
Mattia Bondanza lived off a diet consisting solely of tuna, rice and salad for five years to gather enough money to put down a deposit on an inner Sydney home.
The 30-year-old and his partner spent $2.50 per meal for over half a decade, with the cheap eats paying off in December last year when the couple got the keys to their own apartment in the inner-city suburb Darlinghurst.
Looking to exit Sydney's exorbitant rent prices, Mr Bondanza and his partner swapped eating out on $20 plus meals for at home dining, allowing them to gather enough for a deposit on their $1.15 million one-bedroom apartment.
"I mean why, would I pay off someone else's mortgage?" he said.
"It is outrageous how much money comes out of your bank account to pay for rent."
The 30-year-old communications specialist said a daily eating plan would consist of a homemade coffee in the morning and a tuna rice salad for lunch and dinner, sometimes jazzing it up with a pasta dish or two.
While limiting his avocado intake to just Saturday, Mr Bondanza said the millennial staple was cheap to come by when they were on special.
"Avocados aren't really that expensive. You can get them for less than $2 sometimes and get them in the imperfect pick bin (at the supermarket)," he said.
Since the onset of the pandemic, Mr Bondanza has put an additional $6000 towards paying off his home loan, largely due to the savings from working from home and not paying transportation costs.
"We had a bit of relief being in our own place when COVID hit," he said.
"All the food savings, limiting your going out and buying … are easy steps to save money."
According to research from UBank, more Millennials are saving for a property as their main investment goal after the coronavirus pandemic.
Research from NAB's digital-only bank shows 44 per cent of Millennials list buying a property as one of their two top savings goals over the next five years.
UBank chief executive Philippa Watson said younger Australians were more aware of budgeting than any other generation and were taking advantage of free digital budgeting resources.
"We know there's a direct correlation between budgeting behaviours and reaching your financial goals, and it's really impressive that so many younger Australians are being intentional around their money," she said.
Originally published as Man buys home living off $2.50 per meal