How to Save for Your First Home | 6 Simple Ways
Buying your first home is tough stuff. It's not 1965 where one income and being paid minimum wage can buy you a nice home in the suburbs. That doesn't exist anymore. Yeah, Boomers, Millennials have it tough. That's not a complaint and that's not an excuse. You can still find homeownership.
Tracking expenses
The reality is if you want to buy a home it takes some sacrifice. Nothing good in life comes from gratifying frivolous desires. So track expenses for a 30-day period. Go through every single expense. Give yourself an audit.
1
Eliminate Eating Out
Don't eat out for a month and see how much money you save. Maybe it's not realistic to eliminate it completely but the reality is this is coming from someone who's eaten out six times in nine months.
2
You Are 60% Water
If you eliminate alcohol and sugary drinks, which really aren't that healthy. Drink exclusively water. Finances will like it AND your health. Drink water and drink a lot of it.
3
Why TV Sucks
There are so many alternative options to cable. Netflix and Hulu among others that cost less than $20 monthly. Cable is something that's pretty much obsolete at this point you can still watch all the shows you want.
4
Less Meat = More Money for YOU
Meatless Monday is a fun way to eliminate meat for one day. Meat is usually the most expensive part of the grocery budget. If you began supplementing meat once or twice or every single day of the week with beans and with vegetables you will save money.
5
The Window That Kills Wealth Stop window shopping. Now not meaning when you go to a shopping mall. But window shopping at night with your phone or your laptop.
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