Are you dreaming of buying a new house but don’t have enough money saved for a down payment and closing costs? Here are some quick and easy ways to start saving right now. Every little bit counts to help you reach your goal of being a homeowner!
- Cancel services you no longer use. Not watching as much cable as you used to? Lost your interest in digital radio or bulk warehouse stores? Not visiting the gym much anymore? Cancel your membership or subscription to them all, and save big.
- Ask your credit card company for a lower fee or rate. If you’re having difficulty managing your annual fee or interest rate, call the company and respectfully ask for a reduction. In the vast majority of cases, you’ll get it!
- Cut back on energy waste. Lower the thermostat on your water heater a few degrees. Replace incandescent bulbs with LED. Turn down heat or AC when you’re out or sleeping. Set your dishwasher to “air dry”. Unplug coffee makers, laptops and cellphone chargers when not in use.
- Consider raising your deductibles. Keeping your deductibles low on car and house insurance raises your premiums significantly. Instead, start a special savings account with enough in it to cover emergencies (you’ll even earn interest!), then reduce your deductibles.
- Reduce driving costs. Cut fuel consumption by removing all the unnecessary (and heavy) stuff you’ve got stored in the backseat and trunk, clean or replace air filters regularly, and inflate tires to correct pressure.
Buying a new home or refinancing your current loan? Our experienced team of loan originators are dedicated to making that a reality. At Ideal Lending, you will work one-on-one with a dedicated mortgage loan officer who can explain loan programs and offer great mortgage rates to meet your financial goals. Contact us today!