How this kiwi managed to buy her first home after just three years of saving

Cherie Howie, from New Zealand, has shared her incredibly simple budgeting plan which helped her squirrel away enough cash for a first home in Auckland in just three years.

Writing on the Facebook page Cheaper Living, she explained: "I know lots do this stuff already, but I wanted to share a plan that I wrote for a friend a couple of months ago. She wanted to save money. This is exactly how I saved to buy a home by myself in Auckland."

Photo credit: Facebook: Cheaper Living

It involves setting up three different accounts - one for "working or regular bills", a "slush fund" for irregular bills and a "savings" account.

Cherie then divided up all of her monthly outgoings into the accounts they should be coming from.