Now is an excellent time to start looking for a home, as there are many bargains available when looking for a Windsor property. However, more than ever, you will need a sufficient down payment. Banks are no longer interested in loaning money to future homeowners who can’t bring any financial backing to the table.
So how do you save for a down payment for a Windsor property in this day and age? This has been discussed before on this blog, however, here are a few more creative ideas to build a healthy savings account. Keep in mind that it takes discipline and hard work when saving for your Windsor property. While many of these ideas may seem like you aren’t saving much, it all adds up.
1. Cancel Cable. On the average, families pay over $1,000 a year on cable. If this sounds familiar, you can save approximately $100 per month.
2. Pay Cash: Stop using credit cards with high interest rates and only spend cash on your purchases. By setting a budget and using cash only, you will find yourself refraining from impulse buying.
3. Use Coupons, Make A List: By following these two steps, you can easily take a chunk out of your grocery bill. There are many websites devoted to coupon clipping and ways to save money when shopping at the grocery store. Why pay full price when you don’t have to? Again, it takes discipline, but once you get it down, you will wonder why you didn’t always use coupons and follow a list.
4. Shop for Better Car Insurance: You would be surprised how much you can save when you take a few hours and shop for better car insurance rates. Most insurance companies will give you a direct quote online. It is possible to save several hundred dollars a year just by taking the time to compare what other companies can save you.
5. Brown Bag It: Most consumers wonder at the end of the day how they went through their daily cash so quickly. By skipping lattes and taking your lunch to work, you can save up to $20 a day. That’s $100 per week or $400 a month or $4800.00 a year. All by brewing your own coffee and packing a sandwich!
6. Take The Bus: If you live in a town where public transportation is easy and accessible, consider taking advantage of it! With the cost of today’s gas prices, the amount you can save will be jaw dropping.
As I said, it takes hard work and discipline to save money for a down payment. But it can be done. Just by following these simple steps, you can save untold thousand of dollars per year. Who knows, maybe this time next year you will be signing on the dotted line for your Windsor property!