Cut Down On Expenses
Are you wasting money? Try to eliminate wasteful purchases from your monthly expenditure. Resist the urge of impulse buying! Buy what you need, not all the things you may never use.
• Paying for a gym membership you never use? Maybe you could consider creative and less expensive ways to get fit, like doing home workouts, going for a walk or run in your current neighbourhood, or making it an inclusive activity by going with neighbours and friends.
• Consider cutting the cord. Watch local TV using online streams, or invest in a Netflix or a cheaper cable package.
Move back in with family members; eliminating or reducing rent expense could help you to save more towards your home.
• Stop wasting food! Try to buy what you need, store food correctly and reduce waste by reviving your leftovers.
• Take public transportation (If feasible). Public transportation in many cases works out cheaper than driving every day and reduces wear and tear on your vehicle. The additional savings can be allocated to your home ownership goals.
• Examine your entertainment expense. One less night out with friends can add up to major savings. Get creative with your social engagements by doing activities that require less spending such as picnics, house parties, go to a free local beach or volunteer with a local charity.