A child's dream!
For many of us, buying a home is a dream. This dream can sometimes seem out of reach when it comes to down payment.
But how do you save enough money to raise this down payment without necessarily having to sell one of your kidneys!? 🤔
The team gives you a few tips!
Numero uno: Budget
First, to save money, you need to know how much you spend per month. You have to set a budget, take inventory of your expenses and cut those that are superfluous. If your dream really is to buy a property, you may have to make some sacrifices. Even if that means no more $5 coffee every morning. 😂
Another idea: make extra $
To raise money, the most effective trick is the most obvious; DO MORE!
Increasing your monthly income will help you reach your goal a lot faster. As long as you don’t increase expenses!
Do you have a hidden talent?
Now is the time to put it to work.
Consulting, coaching, mowing lawns, babysitting, training alligators, cutting hair, doing accounting, when we talk about”Side line” there is no limit to what we can sell as a service. Take advantage of your knowledge and talents to make extra money!
Ahhh technology. In the old days, when we wanted to put money aside, we hid it in the cookie jar. These days, setting up automatic transfers from our current account to our savings account is as easy as making Ricardo’s beef bourguignon recipe.
That way, your down payment grows at the frequency of your choice and is protected from an unexpected expense! Where to grow this down payment? Meet a financial planner who will be able to guide you.
Quatro: Pay your cards
This may seem obvious, but we still want to mention it. Your credit card interest charges can add up pretty quickly. It is ESSENTIAL that you pay off the balance of your credit cards in full every month to avoid paying interest charges. Dollars that could be used to realize your dream of becoming a homeowner!
Last but not least: book an appointment!
It’s never too early to speak with an apoint Hypothèque broker. Acquiring a property requires preparation. A meeting with an accomplice could really help you see things through and establish your savings goal.
Saving without a specific goal is a bit like carrot cake with no carrots, A little something is missing… 🥕