Multiple jobs, one dream

How poly-employment and unpaid placements are shaping women’s paths to home ownership

For many Australian women, budgeting for home ownership while juggling multiple jobs or unpaid placements isn’t about choice, it’s about making ends meet. With the cost of living rising and wages lagging behind, more women are stitching together casual, contract, or part-time work just to stay afloat. But this patchwork income can make home ownership feel out of reach, even if you’re earning solid money.

With speculation the Reserve Bank will lower interest rates on 20 May, many women (and their partners) hoping to get onto the property ladder are wondering: Will the home buying process finally get a little easier?

The short answer is that: lower rates may ease mortgage repayments, but the system still isn’t designed with poly-employed women in mind.

Poly-employment: more than just a side hustle

Poly-employment (having multiple jobs at once) is becoming more common, particularly for women. Whether it’s freelancing on evenings and weekends, picking up casual shifts, or running a small business alongside a “day” job, this kind of hustle often isn’t about passion or choice. It’s about necessity.

However, when it comes time to apply for a mortgage, lenders often don’t treat all income equally. Banks typically prefer a traditional full-time job with a single employer. If you have multiple income sources – especially casual, contract, or freelance work – you might find that only one job “counts” toward your borrowing power.

The system doesn’t yet recognise the modern reality of how many of us work, making it harder to focus on wealth building and buying property simultaneously.

Why it matters for home buying

Whether you’re buying solo or as a couple, securing a mortgage depends on how your income looks to the bank. Here’s where poly-employment can make it challenging to buy a home:

Banks may discount income from second jobs or require you to have held the job for 12+ months.

Casual or contract work might be considered “too risky,” even if you’re earning more overall than someone in a single full-time job.

Higher living costs mean saving for a deposit is harder, especially if your income varies week to week.

Unless lending policies evolve to reflect modern work, these barriers will continue to disproportionately affect women, especially those already balancing caregiving and other unpaid roles.

Unpaid placements: a barrier to financial independence

In women dominated industries like nursing, teaching, and social work, unpaid placements are still the standard. These placements can last months and require full-time hours, forcing many students to cut back on paid work or take on debt just to get through.

While the new Commonwealth Prac Payment is a welcome step forward for teaching and nursing students, it doesn’t extend to all fields, with social work students still missing out. Expanding paid placement programs could help women graduate with less debt, earn sooner, and begin wealth planning earlier.

Practical tips for navigating poly-employment and home buying

Poly-employed or not, here are a few ways to boost your chances of loan approval:

Document all income: Keep detailed records of payslips, contracts, and tax returns for every role. Clear documentation strengthens your case with lenders and helps with personal money management.

Convert casual or contract work into a permanent role if you can: Lenders view permanent or part-time work more favourably than casual roles.

Work with a mortgage broker: Some brokers specialise in helping house buyers with multiple income streams. Sign up to Penny and check out some great brokers we’ve already vetted for you.

Use online budget tools: Apps like money planners, budget calculators, or a savings tracker can make saving for property or budgeting for home ownership simpler.

Save a solid deposit and create a buffer for slower months: If your income fluctuates, build a buffer into your savings plan to protect against slower months. The bigger your deposit (ideally 20% or more), the less risky you appear to lenders.

Advocate for yourself: Don’t be shy about explaining your work set-up to lenders or brokers. Your income is real, even if it doesn’t look traditional.

What needs to change

To truly make home ownership fairer and more accessible, we need:

Lenders to update their policies to reflect modern, flexible ways of working.
Employers to stop offering unpaid placements.
Government support to expand paid placements across all fields.
A recognition that financial systems built around a 9–5, full-time model are outdated and creates barriers to home ownership.

How Penny can help

Penny was built with these challenges in mind. Whether you’re juggling multiple jobs, on a low income, or trying to make sense of the home buying process, we’re here to help you feel confident and supported.

Our platform gives you access to:

Budget calculators and deposit-saving tools
Vetted mortgage brokers who understand diverse income streams
Resources on increasing your borrowing power
A community of women navigating the same journey

Together, we can break the cycle and make home ownership achievable. Sign up for Penny and take your next step toward financial independence and home ownership.