Penny-Saver to Home Owner
Ever think that your piggy bank could afford you a home?
Whether you’re looking to buy a home in the near future or planning for down the road, now is the perfect time to start saving up!
Tips, Tricks, and Ideas for Saving Up for Your Perfect Home!
1) Save your coins! Throwing that spare change in a jar can really add up in just a few months!
2) Put part of your paycheck into savings each week! Even putting $5 – $10 of each paycheck away into a savings account can grow your savings like crazy, without missing that money in your spending account!
3) Cut down on your monthly expenses! Do you really need all those monthly subscriptions for TV networks, apps, and gym memberships? Instead try a month or two without them and see how your monthly income grows. Switch from cable TV to Youtube TV, pick one additional TV subscription, try a less expensive gym or working out at home! There are so many monthly subscriptions we pay for, and don’t realize how much they can add up to! Work on organizing the ones you truly need and the ones you can live without and give it a try!
4) Budgeting groceries and meal-planning! I don’t know about you, but every time I throw un-used food out, I cringe a little bit. In order to cut down on food waste and the amount of money you’re spending on groceries, try to go grocery shopping more frequently and only buy what you’ll be using/ cooking for the next few days. When I lived in Spain, part of their culture is to shop just for the groceries they’ll need for that day or dinner for that night. I found that I wasted significantly less food from shopping this way and to this day continue to shop this way! I know meal-planning is a drag and I get tired of it as much as the next person, but I’ve found it’s easier when planning out a day or two, no more. Your savings and the environment will thank you!
5) Switch to a cash back credit card! This is my “sneaky” tip on saving some extra cash. There are plenty of credit cards out there now doing cash back and, with some research, you can find one that suits your spending habits in the most profitable way! Since February, I have gotten over $300 in cash back on my card, just from using it on most purchases, instead of my debit card, and knowing where I spend most of my money (which has definitely been online shopping these past couple of months haha). Most cash back cards will give you money back from groceries, gas, dining, and online shopping which really adds up month after month! Do your research and find a card that is right for your spending habits!
Think You’re Ready to Start Saving?
I hope these tips help you in your future budgeting and savings plan! I have used all of these and found them to be the most helpful (couponing was NOT for me) in my own home-buying process! Whether you’re ready to start the home-buying process, or planning for a couple years down the road, these are easy ways to cut back on your spending and start increasing that savings piggy bank!