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Daily Mirror
Daily Mirror
Business
Levi Winchester

Woman saves £63,000 for house deposit by limiting food shop to just £5 A MONTH

A woman has explained how she saved £63,000 in four years to buy her first home - by spending just £5 a month on food.

Ji-hyeon Kwak, who lives in South Korea, says she keeps costs down by using apps to collect points and coupon codes.

The 24-year-old also scans her receipts to earn cashback on shops.

Ji-hyeon says she is still able to eat a varied diet despite only spending a minimal amount on food.

Other ways she saves money include walking two hours a day instead of paying for public transport, and only drinking tap water instead of bottled water.

Ji-hyeon Kwak is now the owner of her first home (SBS STORY/Youtube)

If she happens to win prizes online - for example, bottled water - she'll sell it on and save the money.

Ji-hyeon recently shared her savings tricks on the Master of Living programme in South Korea.

The thrifty youngster makes £1,255 (2m won) a month and was able to purchase her first home after finally securing a spot on an apartment waiting list.

Have you recently purchased your first home and want to share your story? Let us know: mirror.money.saving@mirror.co.uk

She said: "I got a job when I was 19 and I’ve been working until now, and I have achieved 100 million [won] (£63k) in four years by working on a side job, saving money, and relentlessly. But I have no regrets."

"I won a subscription for a special supply apartment for the first time in my life for a single-person household," added Ji-hyeon.

"I was so surprised that I won the first challenge. I wondered if it was a dream or real life."

Ji-hyeon said she started saving so she could move out of her family home.

"My family situation or environment was not good. Since then, I have been collecting it like crazy," she said.

She also shares her money-saving hacks on YouTube and Instagram.

If you're looking for ways to save to buy your first home, we've also reported on how a teenager was able to put away £17,000 while on a low income.

Isabella Hunter was able to purchase her £107,000 two-bed semi-detached home in Cumbria just weeks after she turned 19.

The money-conscious youngster started saving from the age of 15 and opened a Help to Buy savings account after her 16th birthday.

It took her a further three years to save up the deposit she needed for her first home.

We've also spoken to one man who went from being homeless to clearing £10,000 worth of debt and buying his first home.

Joshua Stephenson, 28, said the money he owed included credit cards, store credit and a new car purchase.

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