{"id":7033121,"date":"2026-08-08T04:42:21","date_gmt":"2026-08-08T04:42:21","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/simple-budget-secrets-young-family-uses-to-save-money\/"},"modified":"2026-08-08T04:42:21","modified_gmt":"2026-08-08T04:42:21","slug":"simple-budget-secrets-young-family-uses-to-save-money","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7033121","title":{"rendered":"Simple budget secrets young family uses to save money"},"content":{"rendered":"


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Sean and Danielle Coffin with their children, Brooklyn and Lara, upsized their home about a year ago. Picture: Josie Hayden.<\/p>\n<\/div>\n

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Parents Danielle and Sean Coffin adopted several smart money-saving strategies before upsizing to a house with their two children.<\/p>\n

The couple also spent years planning and educating themselves about property and finance, reading books such as The Barefoot Investor by Scott Pape.<\/p>\n

About a year ago, they bought a four-bedroom residence in Melbourne\u2019s south east where their son Brooklyn, aged 5, and daughter Lara, 4, love the backyard trampoline and vegetable garden.<\/p>\n

RELATED: How Melbourne couple paid off their mortgage in five years<\/a><\/p>\n

Victorian homebuyers take biggest mortgage gamble to enter market<\/a><\/p>\n

How Melbourne buyers save $400,000 in school zones<\/a><\/p>\n

Prior to their relationship, Ms Coffin owned an apartment \u2013 which she has since sold \u2013 while her husband bought a house in his twenties.<\/p>\n

They rented a unit for a few years while renovating Mr Coffin\u2019s home in order to sell it, all while searching for their dream house.<\/p>\n

Ms Coffin said although their new home\u2019s larger mortgage repayments were \u201ca bit scary\u201d, they had adopted practical methods to budget.<\/p>\n

Her husband joked that one particularly \u201cnerdy\u201d approach was keeping track of which local supermarkets had their regular groceries on special, or cheapest a kilogram or litre, to then buy in bulk.<\/p>\n

\u201cWe don\u2019t go without, we just make sure that if we\u2019re buying, we\u2019re going to buy sensibly,\u201d Mr Coffin said.<\/p>\n

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\"Family<\/picture><\/div>\n
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Sean and Danielle Coffin have already started teaching their children Brooklyn and Lara about saving money. Picture: Josie Hayden.<\/p>\n<\/div>\n

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He also spent an afternoon going their subscriptions and bills, using artificial intelligence to compare gas and electric costs.<\/p>\n

Afterwards, they saved 20-30 per cent by switching providers.<\/p>\n

As well, Ms Coffin said that she learned from her mother to call their home and car insurer to ask for a cheaper deal, every 12 months or so, which saved about $300 last year.<\/p>\n

\u201cOnce you actually look at it on a screen, you\u2019re more inclined to make changes that will definitely help in the long run,\u201d she said.<\/p>\n

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Melbourne\u2019s median house value hit $971,000 in July 2026. Picture: Jake Nowakowski.<\/p>\n<\/div>\n

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The family have sought advice from Seaford-based Mortgage Choice franchise owner and mortgage broker Brad Kirby across their property buying journey.<\/p>\n

Mr Kirby said for homeowners worried about falling behind on their mortgage, it was important to seek assistance early by speaking to a mortgage broker about ways to potentially restructure a loan or accounts to save on interest rates.<\/p>\n

He said that when it came to saving money, mortgage holders should consider making use of an off-set account to its full extent rather than high interest savings accounts, because the off-set account would not be taxed.<\/p>\n

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\"REAL<\/picture><\/div>\n
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Although saving a few dollars here and there on groceries might not seem like a lot, it adds up across a year \u2013 and the leftover money can go towards the mortgage. Picture: NewsWire\/Andrew Henshaw.<\/p>\n<\/div>\n

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Mr Kirby added that people wanting to stay on top of their home loan should also have a look at their spending, especially subscriptions they might not make much use of.<\/p>\n

\u201cHave a deep dive into what you\u2019re spending because we all spend probably over what we need to,\u201d he said.<\/p>\n

\u201cOnce you actually look at it on a screen, you\u2019re more inclined to make changes that will definitely help in the long run.\u201d<\/p>\n

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When Mr and Ms Coffin were looking to buy a home, they searched realestate.com.au for houses which had passed in at auction on the weekends in an effort to find a property which might be a bit more affordable.<\/p>\n<\/div>\n

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He also advised first-home buyers to make use of the Australian government\u2019s First Home Super Saver scheme which lets eligible first-time buyers use their superannuation fund to save a home deposit. <\/p>\n

The scheme allows workers to make voluntary contributions of up to $15,000 each financial year, with a total lifetime maximum of $50,000 a person, into their superannuation with the aim of using the money to help buy a home.<\/p>\n

Buyers must apply to the government to have the voluntary contributions and associated earnings released from their super fund, before using it in their purchase of a residence.<\/p>\n\n

Sign up to the Herald Sun Weekly Real Estate Update. Click here<\/a> to get the latest Victorian property market news delivered direct to your inbox.<\/p>\n

MORE: Historic racing track once linked to Squizzy Taylor back on market<\/a><\/p>\n

Dan\u2019s legacy forces Vic family to sell<\/a><\/p>\n

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Sean and Danielle Coffin with their children, Brooklyn and Lara, upsized their home about a year ago. Picture: Josie Hayden. Parents Danielle and Sean Coffin adopted several smart money-saving strategies before upsizing to a house with their two children. 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