How to save for a house deposit

How to save for a house deposit

How to Save for a House Deposit

Have you ever been ask this question and find yourself taking a step backwards. Now is the time to reconsider that option and this time you are moving forward. The first thing that comes to mind is COST and the time frame . Well you can start small and watch that savings grow. For some of us who depend on a weekly income to survive its impossible to even think of putting that amount side considering the current situation. At loan nz we have sourced out some of the simple ways which can help you save up for a house deposit in nz.

 

What you need to do is pull out that scrap book and start up a Budget Plan. It will only help you keep track of those spending at the same time save you enough to go by. You can prepare one that suits your income cause only you knows best what to cut back on.

Follow this simple saving tips and don’t forget to keep track of your spending.

TRANSPORT

Try sharing a cab with a friend or ask a co-worker for a ride and pay half of what you normally pay for fare. It is a win-win situation and you can save more rather taking two bus to work everyday.

ENTERTAINMENT

Its going to be hard to completely stop going out , but if you’re a party goer its time to be creative. Invite your friends over for a costume party and they can bring their own drinks , maybe a friend can offer to bring the chasseur and you can make some finger foods nothing expensive .

HOUSING

Look for something less than what you currently have. If you are single find a flatmate to share with, possibly closer to work and have the usual facilities available like healthcare, shoping centre and postal service in walking distance. You don’t need the hassle of the big city life.

CLOTHING

Who can tell from afar that you’re wearing a designer clothes, you must be joking. Get yourself down to that warehouse sale and you will be surprise as to how much you can save with a bargain. Be yourself and be creative.

MEDICAL

This is a very expensive exercise if you take it for granted. Watch what you eat, have balance healthy meal and exercise regularly. Like they say “ an apple a day keeps the doctor away" .

ELECTRICITY

If your local energy company have a Energy Saving Program , apply to be included that way you can save energy and pay less. Make up schedules for Lights Off and switch off unused electrical appliance .

SCHOOL

If you have kids get to know their friends and attend PTA meetings , you will be surprise that the family down the road goes to the same school as yours. Maybe can make arrangements to have them ride together “ friends with benefits.”

SAVINGS

Its impossible with the current situation, but if you manage to cut back on the the list above than there is no problem in saving a little every week. Hold off on that 42’ inch flat screen you will have it in due time.Of cause with your current income saving is still a problem. So make use of the skills you have it will bring in cash you just need to work hard and wiser

 

I will share you my secret . I used to hang around the kitchen a lot. When my family are baking little they know I was learning the trade myself. One day a friend of mine had a birthday coming up and I bake up a chocolate cake just for fun and gave it to her. To my surprise she like it and her friends too, now word by mouth I was baking orders for birthdays some just for Sunday breakfast. And I am making almost double my weekly income .

Now is the time to be independent and learn to do the works that you used to pay someone else like cutting grass , plumbing remember that cousin of yours whos doing electrical still owes you a favour or two.

KEEP TRACK

Lastly have faith and believe in yourself .prepare that budget so you can track your spending.