Saving money is hard, even when it’s for something you want – like a new home in a great neighborhood or near top schools. If you’re getting a refund on your taxes, now’s a good time to sock that money away. Check out these quick tips to save more money – and you’ll be ready to move in no time.
1. Know how much you need. Knowledge is power. You need to know how much you can afford, and if you’re qualified to buy. Learn more about the pre-qualification process here.
2. Automate your savings. Direct deposit to your savings is the best and most predictable way to save. You don’t have to think about it every month, but these consistent savings add up fast.
3. Manage money with your phone. Check out these apps that will help you see how much money you have that’s available to spend or save, track your spending and automatically move money to your savings account.
Simple – a great online banking platform that gives you an accurate picture of what you can spend today with out damaging your long-term goals.
Mint – a smart financial overview that tracks activity from all your accounts – checking, savings, retirement. Everything’s recorded and categorized and you can see exactly where you’re money’s going (and where it shouldn’t be).
You Need a Budget (YNAB) – yep, the dreaded word. This easy interface helps you save more money, pay off debt and get ahead.
Even though you don’t always need a 20% down payment, having cash on hand puts you in the best position – especially if there are multiple offers for a home. Have more questions? I’d love to help you find the answers.