How Can We Buy a Home?

by Kim

Okay, I have a question; we don't have credit cards (thank God). But we do have rent, utilities, a car payment, groceries, gas, cellphones, and cable. We are wanting to buy a house but we need to save money. How do we do that?

I am the only one working right now. My husband lost his job 3 weeks ago. I bring in about 2000.00 a month and he gets unemployment of about 750.00 a month.

Thanks, Kim

Comments for How Can We Buy a Home?

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Here's How to Get Started...
by: Anonymous

First of all, congratulations on being so free of debt. You are way ahead of most people, who typically owe thousands of dollars.

The first thing I would do if I were you would be to go on a budget. You can download a free workable budget here. If you haven't already done it yet, keep a small notebook and write down everything you spend money on in a month. This will give you an idea of where your money is going.

Once you have a good idea of what you are spending money on, then you and your husband can sit down and make a plan.

What can you live without? Are you eating out much? Do you go to the movies? Are you buying a lot of processed food? Don't go cold turkey - that's just too hard to do, but you can gradually cut back on the things that seem less necessary - like movies or fast food - and put that money into savings.

Another way to cut back on costs is to take a hard look at what you are spending at the grocery store. If you are buying a lot of ready-made meals - the kind that you heat up in a microwave - then consider substituting those items for meals you make from scratch. Find a recipe you like and on a Saturday or Sunday make enough for several meals and then freeze the leftovers to have as a meal once a week for the next few weeks. Then the following Saturday or Sunday, make a different recipe with enough for several meals and again freeze the leftovers. Keep this up for several weeks and you'll soon have enough "ready-made" meals of your own that you won't have to buy those pre-made meals at the store.

There are other ways to cut back also, such as cutting your own hair, borrowing DVD's from the library instead of going to the movies, etc.

A good place to start is Amy Dacyczyn's excellent book, The Tightwad Gazette.

Hope this helps, and good luck with your savings plan!

Sue Merriam

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