12 easy ways to save money for a house downpayment

February 28, 2011

Save Money Vacation

Saving money for a downpayment on a home may seem like a daunting task. But over time, some very simple ways to save money can add up to big dollars. The higher your downpayment, the less you have to borrow, so get started with your savings now.  You can do it with these simple tips.

1. Drink water.  Spending money on soda or other beverages is an expensive way to quench your thrist. 

2. Print in black ink rather than color to save on expensive color ink.

3. Save electricity by turning off lights when there’s no one in the room.

4. Turn down the thermostat and put on more clothes to save on heating costs in cold weather.

5. Make your coffee at home. Think of what you could save if you are buying a coffee every day rather than making it yourself.

6. Bring your lunch to work.  Same thing as the coffee. BIG potential saving here.

7. Learn to cook if you don’t know how. Cooking at home is so much more economical than eating out.

8. Consider changing your energy plan to a "Time of Use" plan. Contact your Utility company for more information.   

9. Don’t buy anything if it is not on sale.  Making that a rule for yourself is a good habit to get into.

10. Care about coupons. 

11.  Don’t acquire expensive taste in clothing (or tone it down if it’s too late).

12. Don’t be an impulse shopper. Think about it for a day or two to see if you still must have it.

All the above are easy fixes to save money and there are certainly more.  The sooner you get your downpayment, the sooner you can stop paying rent. Be your own landlord – buy a house. 

Good luck!

Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog for tips on how to save money for a downpayment on a house. If you’re curious about what is available now in your price range, please search Wisconsin real estate at firstweber.com.  And if you’ve got other easy ideas on how to save money – please share. Who couldn’t use a little more in their pocket these days….

Photo credit http://www.flickr.com/photos/o5com/5126344583/

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