ACHIEVING financial stability and buying your first property is a dream for many young adults these days. 

With the cost of living crisis, not to mention the housing crisis, it’s no easy feat. But one woman appears to have cracked the code and is now sharing her tips for others to be able to do the same. 

Starting the clip off with footage from some time ago, her younger self said: “This is how I plan on buying my first house by the age of 22…”

Spencer Barbosa then jumped to present-day, where she could be seen wearing a pink knitted jumper with matching nails as she revealed: “Hi! I’m 20 years old now and I actually bought my first house when I was 19, so I thought I would tell you how I did it.”

Standing in her kitchen, viewers got a peek inside her home, which featured white cabinets and countertops, including a kitchen island in the middle.

She then launched into her guide, as she revealed the first step is to have multiple streams of income. 

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US-based Spencer said that while her full time job is being on social media, it isn’t the only thing she does for a living. 

“Number one, multiple streams of income. I also want to acknowledge my privilege. I worked in social media, but when I posted that video when I was 18, I was literally working in fast food,” she shared. 

“Multiple streams of income is the most important thing that I can preach to you about money,” she continued. “I do social media full time, but it’s not the only thing that I do.” 

Coming in at number two, Spencer advised people to get a credit card “as soon as you turn 18”. 

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“I use my credit card for literally 99.9 per cent of things I buy, because one, I get points and rewards. Two, I am building my credit  score,” she said.

“They do not teach you that in high school.” 

While credit cards do help with credit scores, it can be easy to fall into debt. 

The Credit Counselling Society has a number of tips to ensure you don’t fall into debt, including: saving up for purchases rather than relying on the credit card, keeping the limit low, prepaying with each pay cheque that comes in, using the card for only one type of expense. 

Spencer went on to share her third step as she explained that the property you purchase does not need to be the “nicest house on the nicest street”. 

She shared: “You want to come in, make it nice and build equity.” 

As a final point to her TikTok video, @spencer.barbosa added: “Do not listen to people when they tell you that you are too young or you can’t do it.”

Warning people about falling into debt with credit cards, one person wrote in the comments section: “ok but be careful with the credit card bc if you arent good with deadlines they will take ur soul”.

Spencer agreed as she replied: “YES!!!!! Pay off on time”. 

Others praised her achievement as one person wrote: “Recognizing privilege while also sharing on how to do it [clapping hands emoji] congratulations Spencer!!” 

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Another said: “You should be so proud for yourself. You’ve accomplished so much at young age,” with a red heart emoji.

While a third added: “Honestly you’re so inspirational!!! Thank you for being so transparent,” with three red heart emojis. 

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