3 Ways To Save Money For A House

3 Ways To Save Money For A House

Buying a new home can seem like an intimidating purchase to make. A price tag of fifty, one hundred, or even two hundred thousand dollars would be daunting to anybody! Luckily, you’ve mostly got to worry about the down payment, assuming your income can cover the monthly payments. That being said, there are several steps you can take to start saving money for a future home. 

Better Budgeting

Before you can start saving money, first you’ve got to know how much money you’re currently spending. Sit down, either by yourself or with your spouse, and figure out how much you spend each and every month on average. That means taking into account all the bills and necessities, insurance, gas, and utilities. Try to get a rough estimate on things like food, going out, and how much you spend on little things. You might be surprised how much you actually spend when everything is added up. Once you have an idea, you can better determine how much you’re able to set aside and where you might be able to cut back in order to save more.

Cutting Back

If you’re able to see just how much money seeps through the cracks and falls into the wasted territory, you might be more inclined to cut back on certain spending habits. Did you spend fifty dollars on soda last month? Maybe you can find a cheaper alternative and cut back, or even go cold turkey and stop buying it entirely for a few months in order to maximize your savings in a short period of time. Did you need to buy three brand-new videogames last month, or can you get by with just one for now? Can that cute pair of shoes wait as well? It’s completely fine to buy things for yourself and splurge every now and then, but by cutting back on that unnecessary spending, you’ll find that your savings grow at an exponential rate.

Upgrade Your Existing Home

This last one can be considered more of a “bonus tip” for current homeowners. It might seem a little counterproductive, but taking a predetermined amount of money and investing it into your current house can actually save you money! Spending money to remodel the kitchen, bathrooms, and living spaces will increase the value of your home and help it sell at a higher price. It’s also worth considering making any necessary fixes to your current home, which will help it sell better; things like replacing broken tiles or wall fixtures, cracks, replacing appliances, or even hiring roof replacement services to swap out a leaking roof. Obviously, this tip only applies if you currently own a property, and it’s more on the “flipping a profit” side than the actual “money-saving” side, but it’s an excellent idea if you’re able. As the old saying goes, “you’ve got to spend money to make money.”

Closing Thoughts

Whether you’re moving out of your parents, upgrading from an apartment, or just looking for a change, buying a new house doesn’t have to break the bank. By utilizing these tips, you’ll begin putting away enough money to fund the purchase of your new home.

Money Saving Tips For Summer

save money

This Summer we all want to have the best time possible, I think we can agree we all deserve it. But why break the bank along the way? Many people are taking out a payday loan for there activities and hobbies this Summer season, but this isn’t always 100% necessary. Here are some of the best tips, so you can save money this Summer.

Turn Off The Heating 

This is a refreshingly natural habit to adopt. Day and night, allow the cool air to cool the house down in the evening so the warmth Summer sun can heat it back up in the daytime. You can also put fans in the windows to help pull in the cooler air. Just make sure that you close the windows again in the morning before it heats back up. This can save you on electricity costs by not running your air conditioning as much when it’s warm.

Buy Snack For Your Day Out Before You Leave

Whether it is the park for a picnic, the cinema, or the beach, we all know that local shops, especially in tourist saturated destinations, will always charge higher. Beat them to it by bringing your own, so you can eat your home prepped sandwiches with a smiled, knowing that you’ve beat the system and made some top savings along the way. 

Exercise Outdoors

You don’t need to pay for the gym, especially if you pay-as-you-go with the whether as good as it is. In the Summer, the whole world is your gym, so go and explore the great outdoors without having to fork out.

Go to a local event instead of a movie

Check your local Facebook page or newsletter and see what’s on in your area. You don’t have to pay for a top quality day out, so why not enjoy the better things in life that are free?

Wash your clothes in cold water

This may seem like somewhat of a blast from a past, but bear with us If it’s an exceptionally hot day, this one is an absolute no-brainer and you’ll thank us later. About 75% of the energy you use doing a load of laundry comes from heating the water. This is not an unhygienic measure and you will get the absolute same result. Your clothes can still get clean even without using hot water. If saving money isn’t enough incentive, cold water also helps your clothes last longer by not putting the same strain on them that warm water does.

Cook outside

BBQ season is here, and who knew it could help you save on energy? Grill to you hearts’ delight, there are even some wild recipes out there you would never have thought of. Cooking pizza on the grill for instance. If you don’t have a grill, local shops nearly always have some type of countertop grill or disposable BBQ you can also cook with outside.