20 Strategies on How to Save for a Housing Down Payment – Newsmax

Think buying a house is an impossibility? The truth is far from it! It’s easier than you might think to save for a down payment on a house all your own. Here are twenty unique techniques for earning and saving, from frugal lifestyles to tips on handling credit and debt!

Key Takeaways:

  • Make saving for a down payment a priority by giving up some small expenses that typically add up quickly, i.e. going out to lunch every day, a $5 latte, etc.
  • Put any extra unexpected money into the down payment fund, such as Christmas money, birthday money, graduation money, bonuses, tax returns, etc.
  • Looked for ways to increase income. In particular, take on overtime at your full-time job, bump up your rates for freelance work, take on an additional weekend project.

“Live as frugally as possible. Cut out items that provide for the “latte factor.” You’ll be surprised how much money you can save just by staying in more and eating out less.”

http://www.newsmax.com/Finance/JonSanchez/down-payment-home-housing/2016/10/19/id/754313/