{"id":10267,"date":"2018-09-14T06:10:21","date_gmt":"2018-09-14T12:10:21","guid":{"rendered":"https:\/\/www.richmondamerican.com\/blog\/?p=10267"},"modified":"2024-01-08T12:38:35","modified_gmt":"2024-01-08T19:38:35","slug":"how-to-save-money-for-a-down-payment-seven-daily-strategies","status":"publish","type":"post","link":"https:\/\/www.richmondamerican.com\/blog\/how-to-save-money-for-a-down-payment-seven-daily-strategies\/","title":{"rendered":"How to Save Money for a Down Payment: 7 Strategies"},"content":{"rendered":"

Saving for a down payment on a new home might feel daunting, but small daily changes can make a big difference when it comes to setting aside money for a large purchase. We rounded up seven strategies that make it simple to streamline your spending and save up for your dream home\u2014and it\u2019s a lot easier than you think!<\/p>\n

    \n
  1. Shop smart
    \n<\/strong>It\u2019s tempting to toss anything that looks good into your grocery cart, but the price of all those products adds up quickly. Instead, plan your meals ahead of time and buy only what you need and will actually use. It may seem counter-intuitive, but shopping in bulk is often more cost-effective than buying the bare minimum: memberships to wholesale clubs, such as Costco, can end up saving you money on the things you buy most.<\/li>\n
  2. Spend thoughtfully
    \n<\/strong>Whether you\u2019re window shopping or online shopping, impulse purchases can be hard to resist. Try implementing a 48-hour rule: if you\u2019re not still thinking about the item in two days, you didn\u2019t really want it in the first place.Dining out can be another big expense. Those appetizers, drinks and tips can lead to a much larger bill than a home-cooked meal. When you go to a restaurant, consider splitting plates, sticking with water and cutting down on extras (like dessert!) to save money.<\/li>\n
  3. Bring your own lunch
    \n<\/strong>You don\u2019t have to say \u201cso long\u201d to your lunchtime favorites forever, but bringing in your own lunch can save you close to five dollars a day, according to USA Today<\/a>. That\u2019s nearly $90 dollars a month (and $1,130 a year!) to put towards your down payment!<\/li>\n
  4. Keep an eye on beverage spending
    \n<\/strong>How much do you spend per week on beverages? Your daily coffee fix might seem like a small purchase, but it can cost more than five dollars a day. Brew your own instead; with a potential     savings of around $2.50 per cup<\/a>, you can count on another $650 a year to add to your down payment stash.<\/li>\n
  5. Work out outside<\/em> of the gym
    \n<\/strong>Staying active doesn\u2019t have to be expensive. Skip the pricey gym membership and try out free home workout videos, or go for a run with a pal.<\/li>\n
  6. Stop spending on things you don\u2019t use
    \n<\/strong>If you\u2019re paying for hundreds of channels but spend all your time binging on Netflix\u2122, it\u2019s probably time to cut the cable cord. Options like     Sling TV<\/a>, Hulu\u00ae and Amazon Prime\u00ae are usually well under $50 a month; if you\u2019re paying full price for cable, switching over could save hundreds\u2014or more\u2014every year.<\/li>\n
  7. Use apps to save
    \n<\/strong>Don\u2019t feel like clipping coupons? No problem\u2014there are apps for that! Use     Ebates<\/a>, ShopatHome.com and Ibotta to easily find discounts on everyday items and big purchases. The savings add up!<\/li>\n<\/ol>\n

    Already saved up your down payment? Explore Richmond American\u2019s Seasons\u2122 Collection<\/a> homes, which offer affordable pricing alongside inspired floor plans and designer features. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    Saving for a down payment on a new home might feel daunting, but small daily changes can make a big difference when it comes to setting aside money for a large purchase. We rounded up seven strategies that make it simple to streamline your spending and save up for your dream home\u2014and it\u2019s a lot […]<\/p>\n","protected":false},"author":1,"featured_media":10289,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"ub_ctt_via":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[4],"tags":[382,150,158,279],"featured_image_src":"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2018\/02\/DownPaymentImage-4.jpg","author_info":{"display_name":"rahblogadmin","author_link":"https:\/\/www.richmondamerican.com\/blog\/author\/rahblogadmin\/"},"yoast_head":"\r\nHow to Save Money for a Down Payment on a Home: 7 Strategies<\/title>\r\n<meta name=\"description\" content=\"Discover seven simple ways to save for your down payment every day! 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