It is a difficult task to save money any time but if you determine to buy a home why don’t you follow my money saving tips:
- Create a budget : You start writing down your monthly living budget such as rent, food, gas, insurance etc. Put down your monthly income as next page. Figure out how much extra money do you have each month. From the real number you create a realisic budget goal and maintain the budget as it goes. If you click the link of “create a budget” then you can find a budge builder tool from www.thebeehive.org to create a budget.
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Put the extra income to an interest bearing account. You can set aside 10% of gross income in that account. In this way you wrould never know you have this money. You put the extra income like birth gife or raise to the saving also.
- Cut down your living expense: Cut down the buying need can save money. Find ways to cut down expense: I remember my parent used to say:” A penny saved is a penny earned.”. Skip reading the “On Sale” advertising from the newspaper will be a good way to avoid the temptation. Have you heard about the “Latte effect”? If the latte cost $3.00 a day then one month will be $90 and 10 years will be $18,559 based on the USA today. You will be amazed that how much money you can save.
- Stick to your budget plan: the saving goal could $1,000 monthly or 10% of your monthly income. You have to keep on saving month after month.
- Increase your income: Do you have extra time and energy to find a part time job?or sell your stuff that you don’t need on www.ebay.com
Tips
- Tell your friends and family member that you are going to buy home and you are cut down the unnecessary expense.
- Put your budget near computer screen so you will see it daily.
- Ask help from your family members or spouse to save together.
