Your dream home is out there, but there’s more to getting moved in than just finding it. You also have to be able to afford it. In order to do that, you need to save money and have your down payment ready. There are a number of valuable tips for saving money, but you need to choose the ones that work for you. Even if a money saving tip is a good one, it may not be something you can do or would be comfortable with. When you read about tips to help you afford your dream home, consider them carefully so you can make full use of the ones that will be right for you.
1). Skip the expensive coffee on your way to work.
Even something simple like getting a coffee at your favorite shop on your way to work each morning can really add up. By making a cup of coffee at home and saving the money you would have spent buying it at the coffee shop, you can save a surprising amount. You don’t have to stop getting your coffee very day, either. Make it a once a week or once a month treat, so you can still enjoy it. The other days, when you make coffee at home, put what you would have spent that day into a jar or a savings account. In just a few weeks, you’ll be able to look back and be amazed at the dollars that are adding up.
2). Cook dinner at home more often.
The more you save, the faster you may be able to buy your home and get settled in. If you normally go out to eat or grab something from the drive-thru on your way home, you can save a lot by cooking at home. If you don’t want to fix something every night, cook on the weekend and freeze portions, so you can microwave your dinner easily after work.
3). Say goodbye to your vices.
Nearly everyone has a vice. It could be smoking or a beer. It might be buying books or jewelry. No matter what it is, you’ll want to consider whether you can let it go or put it aside for a while, so you can save a lot more money for your dream home. That will help you afford it a lot faster.
4). Reduce your cable and cell phone plans.
With the right plans, you can save up money and put a down payment on the house you love. You don’t have to give up your cell phone completely or do without any TV at all, but it may be time to reduce your phone’s data plan and do without premium cable channels for a little while. You can always get those things back once you’ve saved up the money you need and get into your dream home.
5). Use a shopping list at the grocery store.
Using a shopping list when you go to the store can help you avoid impulse buys, and that can save you money. If you make a list of only the things you need and stick to it when you’re actually shopping, you’ll spend less. Then you can put extra money back toward your down payment or other home buying expenses, and get your dream home faster than you might have expected to be able to.
6). Look for online deals.
When you do need to shop for something, don’t just buy it at the closest place. That might end up costing you a lot more. Instead, compare prices. Doing that online can be fast and easy, and won’t cost you any gasoline. The chances are high that you can find the item for less money at an online store, essentially saving you money twice.
7). Buy used items whenever possible.
If you want to save up a down payment fast, there are ways to do that and still enjoy life while you’re saving. If you’re willing to by used, you can still get the things you’d like to have, but you’ll spend a fraction of the cost of buying new.
8). Start a savings account.
Having somewhere to put all the money you’re saving can be very important. With a savings account, preferably one that earns interest, you can watch your money grow and get you closer to your dream home every day.
9). Cash in accumulated change.
One of the myths of the home buying process is that little things really don’t make a difference, but that’s simply not true. Even putting your change in a jar and saving it up matters. Every little thing you do to save money will be important to your home buying dreams, so don’t discount even small ways to save.
10). Research free things to do in your area.
You don’t want to be stuck in your house all the time because you’re trying to save money, but you also don’t want to overspend. There are probably a lot of free things you can do in or around your town. That way you can get out and have fun, but you also won’t hurt your goal of saving up for your lovely new dream home.
2 Point Highlight
With the right plans, you can save up money and put a down payment on the house you love.
If you want to save up a down payment fast, there are ways to do that and still enjoy life while you’re saving.
