Let’s face it: saving for your first home can seem like a daunting task, especially when you feel like you have to give up so much of your routine to make ends meet. The following tips for saving are not only practical, but are incredibly simple to implement into your everyday life.
It’s a pretty universal rule that making your own meals rather than eating out will save you money, but it is often easier said than done. Spend an hour or two every weekend to plan out your meals for the week and shop accordingly, so you will no longer be tempted to go out to eat.
With services like Netflix, Hulu Plus, and Amazon Prime, you can still enjoy your favorite TV shows and movies at a fraction of the cost of paying for cable television. Don’t believe it? Check out the comparison of monthly payments below.
If you find yourself paying for a gym membership with access to all of the amenities, but you’re only using some of them, downgrade to a cheaper plan. Or if you don’t find yourself using it at all, take it out altogether.
With blogs and apps like Pinterest, you can find easy and cheap ways to save on beauty treatments, home décor, cleaning supplies, and more. Often times these DIY tricks are made with common household items, and you won’t even have to spend a penny. You can also find tons of ideas to make gifts with your own personal touch, while still saving money.
Going out to eat with friends or going out on the town has a way of using up your budget. Instead, host a potluck or movie night with your friends, which will not only save you money, but also everyone involved. We’re all in this together.
It’s much easier for you to realize where your money is going when you can visualize it. There are a multitude of apps available that can link your accounts and show you where you are spending money—and many of them are available for free! Apps like Mint, Wally, and Daily Budget offer ways for you to easily budget and control your finances.
Whether you are buying food, over-the-counter drugs, or household items, you can save between 20-40% by buying generic over brand name. And let’s face it, it’s all the same anyways!
The beauty of the online market is that comparison shopping is as easy as one click, so you know all of your options before making a big purchase. Many times, companies will price match if you can find the same product for a lower price elsewhere, so spend the time to comparison shop.
Follow these simple tips, and you’re on your way towards the home of your dreams! Ready to begin the homebuying process? Read our Guide to Home Financing for all of the information you need to know.
Topics: Buying a Home