Saving for a down payment to buy home while you are renting can be very hard.
Here are “19 Ways to Save for a House While You Rent” that can be very important first steps to achieving your goals.
Paying rent every month and saving to buy home and life can be complicated too.
You need to learn to save money while you are paying real estate rent to buy home.
This can be seem complicated sometimes.
Almost 40 percent in America rent real estate houses.
- 1 19 Ways to Save for a House While You Rent:
- 1.1 1. Use Low Cost Budgeting Apps
- 1.2 2. Gym Membership Can Be Costly!
- 1.3 3. Use The Internet
- 1.4 4. Avoid Late Fees Use Autopay
- 1.5 5. Automatic Withdraw
- 1.6 6. Flexibility
- 1.7 7. Make It Hard Physically Make Withdrawals
- 1.8 8. Take Care Of Yourself
- 1.9 9. Pay Off Credit Cards
- 1.10 10. Energy Costs Money
- 1.11 11. Generic Shopping
- 1.12 12. Transportation
- 1.13 13. Keep Up On Maintenance
- 1.14 14. Receive Cash From Credit Card Rewards
- 1.15 15. Alternatives To Cable?
- 1.16 16. Start Down Payment Fund
- 1.17 17. Learn To Garden
- 1.18 18. Take Advantage Of Coupons
- 1.19 19. Salary Increases Can Be Saved
- 1.20 19 Ways to Save for a House While You Rent
19 Ways to Save for a House While You Rent:
1. Use Low Cost Budgeting Apps
There are free or low cost budgeting apps that you could use.
- Know where you are spending and set a maximum budget for each category
- Budget in your newest goal: buy home
2. Gym Membership Can Be Costly!
The average cost of a gym membership is expensive and a large number of membership holders never use them so try free:
- yoga mat to the park
- hike at a local trail
3. Use The Internet
- Internet offers easy ways to make more money
- Fiverr allow users to advertise your talents and to sell a service to make additional income
- Making extra cash to save money for you to buy home
4. Avoid Late Fees Use Autopay
- Late fees are down payment budget busters
- This is avoidable!
- Most companies allow users to set up automatic payments
- Having a budget in writing and have enough money in the bank every month for the auto withdraw
5. Automatic Withdraw
Treat your down payment goal as importantly as you treat bills:
- life insurance
Pay yourself every month!
- Take advantage of automatic deduction plans
- Arrange automatic withdrawal from your checking account to a savings account
- Flexibility is key to saving for a house
- Going over your budget do not feel the need to quit
- Bound to have some setbacks at first
- Do not let those setbacks go back to your old spending habits
7. Make It Hard Physically Make Withdrawals
- Make it harder is to make it harder!
- Put your savings into an account that does not have an ATM card linked to it
- Use a bank that you must physically visit to make withdrawals
8. Take Care Of Yourself
- How to save money for a real estate house while renting is to stay in good physical shape
Doctor visits, medications, emergency medical procedures can be costly.
- Best advice for potential buy home buyers is to stay healthy
- Keep yourself healthy
- Your health is key to keeping money in the bank
9. Pay Off Credit Cards
- Average credit card annual percentage rate is near 13 percent
- Paying off your credit cards is part of your savings plan
10. Energy Costs Money
- Energy costs money are expensive and a big expense
Money that could go toward a down payment is you monitored.
- Shorter shower
- Energy efficient appliances
- Lights off in rooms
- Turn off the water
- Use blankets during the winter
- Turn thermostat up or down
11. Generic Shopping
- Name brands verses generics could save you a big money per month
- Put that money into your down payment savings account
- You will be shocked how much you save
- Not much quality difference in generic brands
- Driving to work can cost a ton in fuel costs
- Transportation costs are the second largest expense
- Opportunity by carpooling, taking the bus or riding a bike to work
13. Keep Up On Maintenance
- Usually expensive when something breaks down
- keeping up on maintenance is a step toward saving for a down payment on a house
- Maintaining is less expensive than replacing or fixing
14. Receive Cash From Credit Card Rewards
- Cash out reward points and stick them in your down payment fund
- Cash rewards from your credit cards is a great idea to save for a house deposit while renting
15. Alternatives To Cable?
- Shutting down cable could be a healthy choice and a great way to save to buy home
- Many alternatives to cable
- Amazon Prime
- digital antennas
- Sling TV
16. Start Down Payment Fund
- Getting tax refund every year?
- Letting the IRS hold onto your money every paycheck interest free?
- Take less of your paycheck withholding every month and put that money toward your down payment fund
- Change your W-4 withholding
17. Learn To Garden
Growing your own food and developing a green thumb can be very beneficial and healthy:
You will be surprised how much you will save on your next visit to the grocery store
- Eating healthier can be a benefit too
18. Take Advantage Of Coupons
- Taking advantage of coupons and coupon codes can really save you money
- Use your computer or smartphone
19. Salary Increases Can Be Saved
- 3 percent average salary increase for 2018 estimated
- 3 percent raise on a $60,000 salary is $1,800
19 Ways to Save for a House While You Rent
When buying or selling Las Vegas homes for sale.
Contact an experienced Realtor!
Bob and Diana
Robert Ratliff RE/MAX Reliance
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