Interest rates, credit scores and budgets mightn't be the most interesting topics but having a solid understanding and a solid plan is key to becoming a first-time home buyer.
Spending planner Anthea Falkiner said it was important to get a handle on your complete financial picture when saving for a deposit.
"I hate the word budget but it is something that everyone needs," Ms Falkiner said.
"There are too many bright shiny objects out there to tempt you if you don't have a spending plan."
Ms Falkiner said banks scrutinised spending habits when they received a home loan application.
She said to limit unnecessary expenses such as Afterpay and Ubereats in the three months leading up to submitting an application.
The director of Bright Spenders recommended going online to view your credit score and to visit a mortgage broker.
"People don't factor in long term payments such as replacing tyres, a new fridge or drivers license renewal," she said.
"Look at what you might have to pay so you can clearly see what you can afford.
"Pay yourself first so you know exactly what you can put away, if you put the money away first you learn to make it happen."
Ms Falkiner suggested setting up three bank accounts:
- An account for regular bills such as rent, Christmas, birthdays and electricity bills.
- Unpredictable expenses account for medical bills, repairs and others.
- Weekly spending account - FFFI (food, fun, fuel and incidental)