How to save to buy a home when much of your income goes to pay the rent? That is the challenge of every day for millions of people.
What makes even less attractive the idea of saving is widely believed and accepted by most of the world, that gather the money needed to realize the dream of owning your home means that your lifestyle go down, or at least whatever it pays the highest price.
But it need not be so. These tips and tricks will help to increase savings for your home while still enjoying the lifestyle you love. Check out and put them into practice:
Budgets First, Save Later
Make a list of your expenses and budgeting advice seems the classic grandfather, or taken advice oldest financial advice book. In fact, it is and it really works. It is necessary that before undertaking this trip you sit down to analyze your finances, see how they are, what you spend more, where leaks and, from that point, draw a savings plan. You cannot go to war without a rifle, this is the first step to victory. Everyone is different, but save 30% of your salary would be great.
Give advice, sell products made for you, make a garage sale, walk dogs on weekends, get some freelance activities will allow you to have extra donero you can allocate to savings.
If you draw a fixed amount of savings, deposit it in the bank account you’ve prepared for it. Do it as soon as you get your salary, you can even schedule the withdrawal of money from a savings account automatically. People, who want to draw on that money to buy a pair of shoes or to go for beers, always find an excuse to do so. Put an extra barrier to get that money is perfect to remind you of your goal and keep you on track.
Maybe you have not noticed but almost everything is negotiable when it comes to rental costs. Come to gas suppliers, electricity, internet and seeks promotions or make a deal for a lesser cost. If they are interested in doing business (and it is) not mind getting off a bit. If not, look for other companies that will offer a more affordable price. You will find them.
Stay calm and breathe. Like any target medium or long term, save for your house will have its ups and downs. However, when you get it and begin to live in it, it will all be worth it. Journey’s End is best, but if you are truly committed only prepared to tighten your belt when you really needed to.