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25 Brilliant Lifestyle Habits You Need to Save

We have covered other aspects of saving money for a house in these two infographics on budgeting tips you need to know about and this one on life changing tips you absolutely must consider to be able to afford that dream home.

Saving for a home is one of the largest efforts you will likely ever take on. As with any huge task you will need to make changes in order to accomplish it. These lifestyle habits can put you on the path to success. Remember that reading tips is not enough, you have to put them into action.

A home loan requires 5% of the value of the loan down at a minimum. This means for every $100,000 of the home value you wish, you need $5000. This is no small sum of money to have to come up with. Changing your lifestyle is one of the best ways to reach your goals.

  1. Buy inexpensive versions: No matter what you are buying, look for the bargain brand version. It may not be flashy, but each dollar you save is one closer to your new home.
  2. Prioritize: Most people don’t have a trust fund to just put into a new home. This means that you have to prioritize where your money goes. Choose to save over by the new car, or go on vacation.
  3. Don’t keep it a secret: Let everyone know you are saving towards a home. This helps them realize you aren’t being antisocial or skipping things because you don’t want to go. It’s easier to save when you aren’t being talked into going to the expensive restaurant.
  4. Occasionally splurge: Build into your budget and plans the occasional splurge. It’s always easier to get past giving things up if you occasionally reward yourself for the effort. So build a small extravagance into your budget as a pick me up from time to time.
  5. Never buy on impulse: For any purchase that can impact your home fund or ability to save, make sure you don’t make the purchase without time to think. Often a 30-day rule will give you enough time to consider if you should.
  6. Master the list: When you go shopping make a list and keep to it to stay on budget. This keeps your purchases on track and stops you from wasting money.
  7. Look at your insurance: Look at your existing policies and see if you can save money. By looking into this you can transfer this money into savings for your home. Look at home, auto and life policies to find savings.
  8. Give up Starbucks and soda: Get a jar and every time you would have spent money on Starbucks and soda, put it in the jar. At the end of each month take the jar and deposit the money into your account. You’ll get a visible reward for your thriftiness.
  9. The cost of smoking: If you are a smoker just by quitting you can save almost $9,000 a year. That’s if you are only smoking a pack a day. That means in two years, doing nothing else, you can save 10% of the median cost of a home.
  10. Save energy: It might not save you thousands but being energy conscious can save you money in the long run. Turning your thermostat a few degrees different and remembering to turn off lights will put money in your account.
  11. Cancel subscriptions: Take a look at magazine, website, and streaming subscriptions that you have. If you don’t need or use them, cancel them and put those amounts into saving for your home.
  12. Make a goal chart: Sometimes it’s useful to make a chart as a visible reminder of how much you have saved and how much left you need to save. Update it regularly to give your family more motivation.
  13. Take advantage of public transportation: If you work near public transportation you can save gas money by taking advantage of it. Compare the cost to your budget and roll any savings into your bank account.
  14. Carpool: similar to taking public transportation, see if anyone at your workplace wants to carpool. For each member of the carpool you save that many days of gas and maintenance costs for your vehicle.
  15. Bring food along to events and trips: Try to limit your eating out while traveling and at events. If you can bring along your own food and snacks you can save money on each event.
  16. Look at your cellphone bill: Look over your cellphone bill, and call your cell company. Cancel any services you aren’t using, and reduce those that you aren’t using to the full extent of what you pay for.
  17. Avoid a new car: If you absolutely need a new car, avoid a brand new car. Buying a slightly used car is a better investment.
  18. Watch the speed limit: A speeding ticket can cost hundreds of dollars, more if it is for a high rate of speed. So watch the speed limit and avoid the fines, it will also help your gas mileage.
  19. Employee discounts: Look into every discount that is available through your employer, credit union, and professional organizations. It’s not enough to just get the savings, compare the cost and put the difference into your fund.
  20. Live closer to work: If you are able think about renting a place closer to your work while you build up your savings. This only works if you can move without incurring costs that erase this savings.
  21. Live with family: If you have an understanding family member, put your stuff into storage and stay with them. Place all of your current living expenses into your house fund.
  22. Take in a renter/roommate: Renting out your spare room can give you money to put straight towards your house fund.
  23. Add a second job: One way to save is to increase your income. If you find a second job, add these paychecks directly to your bank account.
  24. Live off one income: If you are a two income family, live only off of one of the partner’s income. This will make life more difficult, but saves a lot of money in a short period of time.
  25. Make money from your hobbies: If you have a hobby it may be lucrative. Look into selling your skills to others to raise money for your home deposit. If you don’t have a hobby, consider general labor for people.