Are you thinking of buying a home? Start saving money with these helpful tips.

Are you thinking of buying a home? Get started saving money with these helpful tips:
- Research the homes in your area. Decide what size home you are looking for and what the median price is for homes that size. This will help you decide how much you want to spend and how much to save for a down payment. Suggestion is 20% of house price available for a down payment.
- Budget, budget, budget. Easier said then done, but it is the most important. Every extra dollar you save gets you closer to achieving your home buying goals. There are many ways to start a budget and lots of resources to help you. Envelope budgeting or percentage-based budgeting are two of the more popular ways to start saving money.
- Open a separate account for your house fund, maybe even at a separate bank. This will make it harder for you to access the money for so called emergency funds so the money can continue to grow.
- Set up an automatic money transfer on the same day as your paydays. That way the money is instantly set aside and not in your main account. We recommend making this an auto transfer so that you are not responsible for making sure the money is moved to a separate account and it is all done for you, making it harder for you to spend it.
- Cut costs every where you can think of:
- Stop eating out
- Meal prep
- Cut down reoccurring monthly expenses (cable, streaming services, music subscriptions, gym memberships)
- Make a list when going to the store and stick to it, or use grocery pick up so you aren’t tempted to buy something you see in the store
- Make your coffee at home instead of stopping for one
- No vacations for one year
- If you must do gifts, try doing DIY or inexpensive ones that fit into your budget
- Go longer between hair cuts and hair dye, do your own mani and pedi at home.
- Carpool to work or take public transportation which is often times cheaper
- Be open and honest with your friends and family about your financial goals. This will help them understand why you have to say no to events that will cost you extra money. This will also make it easier for you to say no and not have to come up with excuses every single time on occasion arises.
- Make saving money fun. Find new, free ways to find entertainment. Challenge your spouse and see who can save the most money in a month.
- If time allows, get yourself a side job. Not only will this give you extra income every month, but it will keep you busy so you aren’t spending money.
- DO NOT make any big purchases or finance anything.
- Make sure you are paying all your bills on time, this helps you avoid late fees and helps build your credit score, both are crucial to buying a new home.