For once, one thing remains whether you're considering purchasing your first home or you've owned homes for years. You might feel it's an overwhelming idea to save up for a down payment. The overwhelming feelings might feel even more so in this current down economy when job prospects are also relatively unstable. You can achieve your goals in many simple ways, in fact, if only you're committed to becoming more aware of your finances. Try these three simple tips on for size.
First and foremost, you should consider eating out less and thinking things through more. You may assume you spend about $10 at a mid-level restaurant if you eat out once a week, right? Try again, and this time add in costs of all appetizers, desserts and drinks you regularly order, as well. You'll probably find yourself around $20 now. The tip has to be in there too, doesn't it? The total can add up to $25 or $30 without you even realizing it. You could easily spend over $100, once you multiple that figure by how many times you eat out each month.
Try making your favorite dinners at home more often instead. If you do eat out, ask for ice water with your meal, since it's free. Cut the tip from 15% to 10%. On smaller amounts, the difference isn't a lot, but it will sure add up toward your down payment.
Second, cut out paper towels usage. While it's everyone's favorite go-to to clean up a mess or wipe their hands, the cost of purchase adds up over time. When you can easily obtain rags that will do the same job for free, why not? Rags can be reused by simply washing them occasionally as well. A little thought goes a long way toward saving much for a down payment.
A third tip would be to stop subscribing to magazines. Why pay for something you can find online for free? Treat movies similarly. At around $30 for a single admission, popcorn and a drink, there's really no point in going out. A monthly movie subscription program by mail is something you should consider instead. It's so much more inexpensive, as well.
Saving money toward a down payment can be achieved in just three simple ways. You've got hundreds of dollars in savings on your hands, added together over time, though.
First and foremost, you should consider eating out less and thinking things through more. You may assume you spend about $10 at a mid-level restaurant if you eat out once a week, right? Try again, and this time add in costs of all appetizers, desserts and drinks you regularly order, as well. You'll probably find yourself around $20 now. The tip has to be in there too, doesn't it? The total can add up to $25 or $30 without you even realizing it. You could easily spend over $100, once you multiple that figure by how many times you eat out each month.
Try making your favorite dinners at home more often instead. If you do eat out, ask for ice water with your meal, since it's free. Cut the tip from 15% to 10%. On smaller amounts, the difference isn't a lot, but it will sure add up toward your down payment.
Second, cut out paper towels usage. While it's everyone's favorite go-to to clean up a mess or wipe their hands, the cost of purchase adds up over time. When you can easily obtain rags that will do the same job for free, why not? Rags can be reused by simply washing them occasionally as well. A little thought goes a long way toward saving much for a down payment.
A third tip would be to stop subscribing to magazines. Why pay for something you can find online for free? Treat movies similarly. At around $30 for a single admission, popcorn and a drink, there's really no point in going out. A monthly movie subscription program by mail is something you should consider instead. It's so much more inexpensive, as well.
Saving money toward a down payment can be achieved in just three simple ways. You've got hundreds of dollars in savings on your hands, added together over time, though.
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