2006-06-28 12:02:53 · 18 answers · asked by Anonymous in Family & Relationships ➔ Family
Setup an orange savings account at ingdirect.com, and arrange it so that a certain dollar amount is transferred to that account, from your existing checking acount, every payday. Treat this as if it is a bill you are paying, rather than an optional thing to do with your money. It's a philosphy called "paying yourself first", and it's a lifetime practice you can use not only for a downpayment, but also for college savings for your future kids, or for your retirement nest egg.
2006-06-28 12:09:00 · answer #1 · answered by Mr Clean 3 · 10⤊ 1⤋
To save money for a down-payment on a house make a plan. Create a goal and stick to it. Whether it be to save a percentage of each paycheck on the side or cut back on spending splurges, stick with your goal. Your goal is to save money. Think of ways to cut back on everyday things and hopefully you will see your savings for your goal get a little bigger. Having a garage sale can also help give you a little extra money to use towards that purchase of a house.
2006-06-28 12:09:42 · answer #2 · answered by winchamp 3 · 0⤊ 0⤋
It is a good habit to save 10% of your income. It should be the first thing you take out of each check.
If you do that, and put the money in a money market account, you will be amazed at how fast the cash builds up.
If you would like no money down options...send me an email.
2006-06-28 12:24:28 · answer #3 · answered by Confuscious 2 · 0⤊ 0⤋
u may not like this answer, it's all about cutting back in areas that u can in order 2 save. not including bills , find out where u spend the most money & start there. if it's food consider what u can servive on . i was told that a family lived on beans & rice & saved in matter of months so start there & cut cut cut.
2006-06-28 12:12:35 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Always pay yourself first. Stop buying all the materialistic items and save that money as well. Find the best money market rates and let it sit there and draw interest. Get rid of unnecessary bills such as cable. Lower your phone bill plan.
2006-06-28 12:06:29 · answer #5 · answered by xalsk 2 · 0⤊ 0⤋
Start a savings account and good luck making it work. But don't forget about all those firt time home buyers programs. That how I bought a house.
2006-06-28 12:07:55 · answer #6 · answered by Justbeingme 3 · 0⤊ 0⤋
Put aside a certain amount of your pay cheque every month.
Don't spend on things you don't need (new clothes, shoes, trips to the movies, etc.)
It's hard, but it's the only way and will be worth it in the long run.
2006-06-28 12:08:37 · answer #7 · answered by mikah_smiles 7 · 0⤊ 0⤋
Its all about discipline and saving. You have to save RIGHT OFF THE TOP! But, don't forget to pay yourself first though. If I were you, I'd check out Primerica. They are all about saving & becoming financially independent.
2006-06-28 12:32:55 · answer #8 · answered by KatO 2 · 0⤊ 0⤋
THIS IS HOW THAT WORKS:
1. get paid
2. take some money from your paycheck and put it into a savings acct.
1.get paid again
2.take some more money from your pay check and put into a savings acct
1 get paid
2......
2006-06-28 12:05:59 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Always when you will get some money don't spend it all,Use every chance you have to buy more cheap but useful things.
2006-06-28 12:13:25 · answer #10 · answered by ♥beautyfly♥ 6 · 0⤊ 0⤋