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Easy ways to save for a down payment

Easy ways to save for a down payment

Have you decided to save for a down payment? But you want to know the best way to make a budget and stick to it? Well, today we are going to make a budget and smart ideas to save money to buy your new home.

First off, the budget. Make sure you do not forget anything. If you do, it can be discouraging not to save as much as you planned, more so if your cutting down on luxury to save even more.

Put down your total earnings. Or you can go to this online tool.

Monthly expenses

Rent

Food

Insurance- content, car, health

Entertainment cost for the month

Loan / credit repayments

Net

Phone

Fuel

Hobbies

Clothing

Parking / transport

Schooling costs

How you have how much you can save each month; you might want to see if your work has extra shifts available or even get a weekend job.

Extra income ideas

  • Take surveys- this is usually not much but it can add up to a nice amount.
  • Make a blog and have paid ads
  • Become a salesperson
  • Become a tutor, music, math, language
  • Drive for Uber
  • Join Fiverr and do something for good art
  • Sell template websites
  • Sell unwanted things at the markets
  • Become a virtual assistant
  • Have a spare Room? You can always rent it out, this is also a great way to make extra income when you have bought your house.
  • Move your savings over to a bank account that pays you a decent interest rate.
  • Walk Dogs in Your Neighbourhood
  • Become a Freelance Proofreader
  • Sell Custom Designed T-shirts
  • If you’ve got expertise in a certain area, package up your knowledge into an online course and sell it.
  • Offer Resume Help
  • Launch Your Own YouTube Channel
  • Logo Design
  • Start Personal Training
  • Become a Photographer
  • Maintain Yards in Your Neighbourhood
  • In-Home Help for the Disabled
  • Look for a part-time business on trademe to buy or start one yourself.

The main idea is to start saving as soon as possible, it might be just to enjoy your children to say for their first home. Either way planning and making a little extra income will pay off in the long run, so get your pen and paper out and make your life plan today.