Struggling with saving for a home of your own? Here are some helpful tips.
I’ve Got 99 Problems, and Saving for a Home Is Just One
So you want to buy a house! But first you need a car. And you want to get married in a big wedding, and then have some babies. Don’t forget their college education, and your master’s degree, and the looming specter of retirement.
Life often feels like a series of savings goals. Once you’ve paid off your student loans, there are a half-dozen other major costs lying ahead. The most ominous? Buying a house—a dream that might seem unachievable when you want other things, too.
But having it all doesn’t have to be stressful. Here are some financial adviser-approved techniques for saving for multiple goals—all at the same time.
1. Review your spending
There’s a reason this is the first bullet point in any financial advice story: You can’t make any serious savings inroads without first taking a good, hard look at your spending.