With more and more people looking to buy a new home the topic of a down payment comes up pretty frequently - especially with first time home buyers.
Even with the programs out there that offer low down payments and even down payment assistance doesn't mean you can come to the closing table empty handed.
Bankrate.com has provide a nice article (even though it was written a year ago) showing ways to save money; and you might not even feel it! Click here to view the full article.
The last tip is my favorite and probably the most important one. Move your low earning savings account to a high yeild online savings account. You could be earning 2-3 times (or more) the interest that you are now by moving. Moving your savings does 2 things:
- You are making more money-and really not doing anything for it or even realizing it!
- By moving your savings online it takes a couple of days to get the money from one account to the other meaning you are making it just that much more difficult for you to dip into your savings without thinking - causing you to keep more in your savings account. I've been doing it for years and on more then one occation it has stopped me from buying those 'must have' shoes...
Make your money work as hard for you as you do for it!