My husband and I suck at saving and we have two years to save for a house, once we have it we end up spending it so any tips/ tricks send them my way
Dave Ramsey. We did it for a while and it worked out amazingly. We did not break habits though after we sold our house to pay off the debt and we are now starting his program over again, but doing more this time in regards to doing the classes, workbook, etc. And this time the husband is more engaged. Highly recommend.
Putting it in a savings account that the spendy one can’t see on their app. Out of sight out of mind for my husband, but that account makes me feel so much more secure.
We’re doing the same thing. We got 3 kids and we want our own house. So he puts 500 away each paycheck and I put away 300 each paycheck and we pretend we don’t even have it. We also budget each month and strictly stick to it. I know it’s hard,but just try your best and hopefully you’ll have it
I added up what I needed each month to live then had a portion of my check direct deposited into the credit union into a savings account. I do not have a debit card for it so physically have to go to the back to get any out. Cut back on any spending you don’t need: daily fast food, coffee, cable, etc.
Make a house payment to your savings. No other activity for that account!!!
I had a savings account at a different bank that didn’t have a debit card attached to it. Auto deposit money each pay check. You never see it in your regular bank account so you can’t spend it. If I had to go talk to someone to get my money, I was much less likely to spend it.
Build a budget with bills first. Establish a plan for fun stuff. Save a set amount for your future goals.
Put it in an account that you can’t use for so many years.
I’d you can’t save you won’t save.
Follow the baby steps method that Dave Ramsey has!
It’s a mindset you have to have
I’d recommend Dave Ramsey program. The testimonials are phenomenal
Get a bank account that you won’t use and put the money there. I literally had to do this one time
Every time you start to spend money on something unnecessary stop and put that in a savings account/safe. If you do this you will have the money you need in two years.
Unnecessary is sit down restaurants, movies, alcohol, cigarettes, new clothes that isn’t needed for work, and basically anything outside of necessity bills, food, and travel.
I have 3 accounts. 1 spend 1 bills 1 save. My payroll is split and the money goes where it should so I can’t spend money that goes into saves. I do not have access to the save, I have to physically go into a bank to take money from there. It works for us
Put it in a 2-3 year CD that you can’t touch until the due date, or invest in a mutual fund so you don’t have the money handy to spend. Get some therapy to see why you feel compelled to spend what you have. You can have automatic deductions from your paychecks that go into these funds.
They have at certain banks or certain apps, where you can set up a savings account to be more like a bill. Pay it and forget about it. It’s the only way I can save cause I’m bad for spending extra money.
Savings account at a bank. Do not get a card or give the card to someone you trust to hold onto. Then get an amount taken out of your check for direct deposit OR put cash in weekly or however much you can afford.
Give it to someone you really trust or put it in a bank that needs to be broken to open it.
Open an account at a bank that isn’t your every day use bank. Set up your direct deposit that drops a certain amount in that account and the rest in your every day account. Do not download an app or anyways to see/access this accounts balances, etc. Completely forget it exist.
You got me…it’s impossible to save anything with how expensive it all is….
Open an account that u can’t touch…
Start with saving 10% of each paycheck, set your budget off of what’s left, always make sure you are budgeting well under the remaining income. Do this for 2 months. Then increase the amount of savings to 15%, repeat, every few months increase you savings percentage until you are at a comfortable amount. Also while doing this, look for ways to cut your spending. Plan your grocery trips by creating weekly menus before you shop so you are only buying what you need and check local grocery sales fliers before shopping so you are getting the best deals. I rarely but anything that is full price. Just a few things I do to save.
I have used a very simple test for 70+ years. I ask myself, “If I don’t buy this or if I don’t do this will my life as I know it change so much that I will regret it forever?” If the answer is no, my decision is made.
U both open a savings with no card.
Where you BOTH have to sign off to take it out.
Then hold each other accountable in the moments either of u wanna cave and use it
Have an auto deposit set up so it comes right off your checks into that account if possible
That way u dont see the money so u don’t account for it in your budget
Have a responsible attorney
Hold your savings! Then grow up!
My job offers an app to keep track of your money. It also gives you an option to save from each paycheck into a separate account. I save 5% of each of my checks and that’s what I use every year for Christmas. See if y’alls job offers anything like that.
Don’t spend it before you have it.
Cut back on fast food.
Don’t buy it if you don’t need it.
Have 2 savings 1 is house only the other is rainy day, wild hair, or whatever savings. The house savings gets 80 percent the fun gets 20 percent. You could also open a savings clear across town where you would have to drive over an hour to get to your $.
They have this money box on Amazon I believe that only has a slot for you to put money in. You have to physically destroy the box to get the cash out.
Open a savings account and don’t touch it. It’s called self control🤦🏻♀️
Deposit it into an account that doesn’t have a debit or ATM card. Then you only have access to the money by going inside and showing your ID. When the card for the new account comes in the mail, cut it up and don’t order a new one.
Don’t link the account to mobile banking either.
Stop spending easy solution really… it really is that simple
Put away a certain amount out of every check like $100.
If you can’t save you better not buy a house
If you can’t save you better not buy a house
Save 20% of each pay check make a tracking system.
High yield savings account. Have money from your paycheck sent directly to that account!
Saving money can be a challenging task, but with discipline and the right strategies, it is achievable. Here are some tips to help you start saving for your house:
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Set Clear Goals: Define your savings goal and break it down into smaller milestones. Having a specific target in mind will motivate you and provide a clear focus for your saving efforts.
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Create a Budget: Establish a budget that outlines your income, expenses, and savings goals. Track your expenses to identify areas where you can cut back or make adjustments. Allocate a portion of your income specifically for savings and treat it as a non-negotiable expense.
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Automate Savings: Set up automatic transfers from your checking account to a separate savings account. This way, a predetermined amount is regularly saved without you having to remember to do it manually.
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Cut Back on Unnecessary Expenses: Review your spending habits and identify areas where you can cut back. Consider reducing discretionary expenses like eating out, entertainment, or impulse purchases. Find more cost-effective alternatives or limit these expenses to special occasions.
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Prioritize Debt Repayment: If you have outstanding debts, focus on paying them off as soon as possible. High-interest debts, such as credit cards or personal loans, can drain your finances. Allocating extra money towards debt repayment will free up more funds for savings in the long run.
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Find Ways to Save on Everyday Expenses: Look for opportunities to save on your regular expenses. This could include using coupons, shopping during sales, buying in bulk, or exploring discounts and loyalty programs. Small savings in multiple areas can add up over time.
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Plan Meals and Cook at Home: Eating out or ordering takeout can be costly. Plan your meals in advance, create a grocery list, and cook at home as much as possible. It’s not only more cost-effective but also allows you to have control over the ingredients and portions.
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Explore Ways to Increase Income: Look for opportunities to boost your income. This could involve taking on a side gig or finding ways to monetize your skills or hobbies. The additional income can be directed towards your savings goal.
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Stay Motivated: Celebrate milestones along the way and remind yourself of the ultimate goal—buying a house. Visualize the future benefits of your savings efforts, such as homeownership or financial security, to stay motivated and committed to your saving goals.
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Seek Professional Advice: Consider consulting with a financial advisor who can provide personalized guidance based on your specific financial situation and goals. They can help you create a comprehensive savings plan and offer strategies to optimize your savings.
Remember, saving money requires discipline and consistency. Be patient with yourselves and stay committed to your goal. With time and effort, you can build up the savings you need for your dream home.
Personally, I save cash easier than it being in an account. Find a lock box with a slit just large enough to slide money in and give the key to someone you trust fully. Every pay period put a set amount in the box.
Lots of good ideas above. 1 extra one that I can think of is. Idk if u r living with family or renting, but say u paying 800.00 for ur living arrangements currently. Pretend u have to pay 1,000-1,200 then take the extra 2-400.00 and put it in a separate savings. Then u can plan for it like u plan for rent.
Set up an auto debit that transfers money into a higher yield savings account.
There are some people with great free advice on the personal finance reddit
https://www.reddit.com/r/personalfinance?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=1