How to Save for a Home. Coffee included!
Yes - we do love to roast on Dave Ramsey’s tone-deaf advice. You can save money without living like a prisoner (because life is meant to be enjoyed a little bit okay).
Small steps make a big impact when it comes to saving money. We just don’t realize it when we’re first getting started.
Here’s a few tips:
🌮 Eat at home - As much as possible, eat at home. If cooking isn't your thing, keep your meals simple and easy to throw together. They don't need to be fancy and who knows? Maybe you'll grow to love cooking after all!
❌ Do a "no spend" challenge - this can be for a short period of time and it can be flexible! You can choose to not purchase anything from your phone for a week or only purchase things on Sundays (put them in your cart then wait to purchase...you may change your mind!) You could choose to spend one weekend a month at home or challenge yourself to two weeks not spending money on anything extra! Get creative and mix it up...you'll be shocked how quickly your savings can grow when you eliminate even one purchase habit!
📓 Keep track of your expenses - this is where flexibility comes in! Don't want to give up your daily latte? No problem! Just budget it in. You *may* have to give up something else temporarily so that you don't go over budget, but you don't have to give up everything! When you track your expenses, you gain freedom and flexibility with your savings AND spending!
🎨 Monetize a skill on the side - do you love painting portraits or organizing closets? Consider telling your friends and beginning a side hustle! It doesn't have to be a long term commitment and no branding is required...just bless people with your skill set and save the money you earn for your home!
💰 Prioritize your savings account - above all else, give your savings account your undivided attention. Check in on it weekly and be intentional about putting money in it consistently. Set incremental goals and reward yourself (with something fun and within your budget, of course!) when you hit each milestone.
Saving money is hard. Wanting to buy a home but feeling stuck renting is hard. Choose your hard might be a trend right now, but there is real medicine in that.
A great way to see how close you really are is to do a free loan application. Even if you think you won’t be approved, that isn’t enough reason to not try.
Looking to connect to a lender? Here are two I highly recommend:
Robin Grist - MortgageLife: 817-733-2261
Greg Heiler - First United: greg.heiler@firstunitedbank.com, 214-529-6480