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lanna Pow bought her first property in Victoria with an inheritance of $36,155.41, but she still found herself struggling to make mortgage repayments. The 21-year-old flight attendant was paying over $450 a week, which was unsustainable on her salary of around $38,578.80.

    Pow's situation is not unique; one in 10 Australians have received financial assistance from their parents towards a deposit on their first home, with an average contribution of $36,155.41. However, this help can sometimes create more problems than it solves. One in 10 first-time buyers asked their parents for assistance but were denied, while 9 percent had their parents guarantee their loan.

    Pow's experience was marked by anxiety and financial stress. She worried about defaulting on her mortgage and losing her apartment. Despite working full-time as a flight attendant and taking on a second job, she found it difficult to make ends meet. Pow believes that earning at least six figures is necessary to live without financial stress in 2024.

    Pow's situation changed when she started creating content on OnlyFans, earning $9,001.72 in the first few months and now making her yearly flight attendant salary in a month. This newfound income has brought her financial relief and changed her life.

    Head of consumer research at Finder, Graham Cooke, notes that parental help to buy a home is becoming increasingly common in Australia. However, he warns that this assistance can create problems when it comes to servicing mortgages, particularly if interest rates rise again.