Busola Ilesanmi is a management consultant who knows a lot about optimizing fiscal performance. Busola Ilesanmi is a management consultant and knows a lot about optimizing fiscal performance. She started saving for a deposit in 2015. She had saved enough money by the end of 2015 to buy a one-bedroom apartment and pay all her expenses. She explained that her financial strategy is very strict. “Half my income goes on bills, living expenses, 30% on entertainment and lifestyle, and 20% on savings and investments. This allowed me to reach my savings goals in a realistic timeframe while still renting and enjoying the small luxuries of life. To make sure she was on track, Ilesanmi did a yearly life audit. She looked at her income and spent habits and made suggestions to improve them. Busola Ilesanmi paid a five percent deposit of GBP17.100 for her new one-bedroom house / Handout. Over the years, these included negotiating pay increases and choosing to live in Ashford, Kent instead of London. Her monthly rent came to GBP950. She also had to pay her bills. Ilesanmi purchased a new-build home to take advantage of the Help to Buy Scheme. This allowed her to borrow 40% of the property’s value, put down a 5% deposit and then raise a mortgage. She chose a GBP324,000 apartment with a private patio at NewHayes (fairview.co.uk), west London, and made a GBP17,000.100 deposit. Her mortgage now costs GBP863 per month. She moved in December. The service charge is approximately GBP120 per month. It will make it a more desirable location for buyers who want to live in the suburbs of London. I am grateful that I have been able to get on the property ladder. Her advice to potential buyers is to follow her financial rules. She said, “Ensure you have a vision and keep your eyes on the plan.” “If it doesn’t work out, you know it tried, but if it does, it’s like hitting a jackpot.”
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