How to Save For a House in One Year
How can saving money here and there add up? Here are 7 ideas to help you save for a house in one year.
1. Slash Your Rent
Move in with a friend, family member, or roommate to lower this expenses for the year. Saving $50 per month means an extra $600 in your pocket for the year.
2. Rethink What's Essential
When it comes to budgeting, even having a car (or an extra car) should be up for debate. When it comes to budgeting, even having a car (or an extra car) should be up for debate.
3. Ditch the little expenses
Make your own coffee, color your own hair, and cut your cable cord. The average cable bill costs about $100 per month. Most streaming services are less than $10 per month. This will give you a monthly savings of $90. Cut back on the number of times you eat out or take out meals each week. If grabbing lunch at a local place costs $10 but packing your own costs only $4, a DIY approach could add up to a monthly savings of $180.
4. Go Back to Basics
Your cell phone, insurance plan, and credit cards: These are the cost of 'operating' your life. Request discounts, switch to basic plans where possible, and look for reward plans. Making changes could save you close to $400 per month.
5. Find a Side Job
While taking on extra work or a second job might not be sustainable for years, doing so for 12 months will help give you the boost you need to save that $50,000.
6. Embrace Minimalism
Did you splurge on something you never even wore? New, unopened items like shoes or designer perfume can go for a fair price.You could earn up to $1000, on average, by re-selling the items in your closet. Once you've mined that source, open a few boxes in the basement. Vintage vinyl, signed copies of books, even matchbox cars, pin collections and posters (especially those in mint condition) are worth more than the effort of posting, packing, and selling.
7. Get Wise About Entertainment
Eliminate expensive entertainment. If you're used to buying a bottle of wine and a six-pack at the store each week, your alcohol tally could be up to $65 per month. Try the no-spend weekend and you could be looking at an additional monthly savings of $45. Exercising at home instead of paying for a gym membership (or finding free yoga classes in your area) can slim your budget with a monthly savings of $60 per month.
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Perhaps you are wanting to build your dream home we have lots and larger parcels to choose from in Taos and Angel Fire. Does lakeside living appeal to you? We have many lakeside lots available in Angel Fire's private community of Hidden Lake.Do you prefer views of the Angel Fire Resort Ski Slope, check out the lots for sale in Taos Pines Ranch.If buying or selling Angel Fire property call us at (575) 377-2626.
We are dedicated to bringing you the Best in Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community. Cool Fresh Mountain Air Is Waiting Just For You!!!
Information obtained from Trulia