planning on buying a house in the near future, it is important that you know
these tips and tricks that might help you save so that you can have your dream
You first have
to know how much you’ll need to save. Then, put a time frame on that amount.
Obviously, the shorter your timeframe is, the higher your annual savings goal
This must not
only include the price of the house but also the furnishing and all the scanty
expenses that come along with a house.
Budget and Save
You need to make
room in your budget, so that you are able to cut down as much as you can on
your unnecessary expenses and your emotional buying habits.
savings. Make sure that a portion of your pay check is always routed into a
savings account, so that you will not be tempted to splurge your money as soon
as you get paid.
Be Open to flexibility
talking about saving several Lakhs per year, you have to make sure that your
savings goal is doable. It is important to build flexibility into your savings
your usual expenses and demands will still be there. None of these will
magically stop just because you have a goal of saving money for a home.
isn’t an emergency fund or a retirement plan. You’ll be needing a large sum of
money that too at quite a short notice.
READ ALSO: HEALTHY MONEY HABITS
READ ALSO: HACKS
TO SAVE MORE
Written By: BALAKARTHIGA.M