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Down Payment Money Saving Blog Archives - April 2008

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April 20, 2008
Coming Up With Your Down Payment - Four Ways To Save Money

Hello everyone! I'm excited because I just added four new articles with tips on how to save up your home loan down payment. I'm very thrilled to continue to expand the money saving tips and strategies on this site and the first two of the four articles are very timely: save your down payment while helping the environment and saving money on your taxes. Earth Day is just around the corner and there is nothing better than saving money for your first house while helping out the environment. (On a similar note, you may want to also check out our existing article on saving money while giving back.) Taxes are over this year (thank goodness) but it's never too early to start preparing for next year. Guest author Doreen highlights some really neat ways to save money on your taxes. The other two exciting articles just uploaded: save money shopping and save money on clothing. I'm looking forward to continuing to add more articles all about saving up your mortgage down payment (or other savings goal) and expect to have another large update shortly.

April 18, 2008
Staying Motivated By Saving Up Your Down Payment In A Jar!

Saving up your home loan down payment is a big task that can take years to accomplish. Half the challenge in saving for your house mortgage is staying motivated. An exciting new way to stay motivated in saving money: save your money in a jar. By placing your savings in a jar (or multiple jars), you can see your money add up and play a variety of mental games that are sure to keep you on track. Another great way to stay motivated: Give back to your community while saving money. Giving back is a great way to clear your mind and do something great for others. That alone will create strong karma and bring good things your way (such as your first house). Moreover, many charity events are extremely cost effective and will end up saving you money at the end of the day.

April 13, 2008
Two New Down Payment Money Saving Articles

There's no doubt! We're on a roll. Two more articles have just been uploaded, both of which are very different and very relevant in your quest to save up your home mortgage down payment. The first article discusses how your family can help you save money. We all love our families. Why not make saving up your down payment a family activity? The second article discusses the tax benefits of owning your own house. As you get ready to buy your first home, you'll want to learn all about mortgages and taxes, two essential topics in mastering the financial side of home ownership.

April 12, 2008
Saving Up Your Down Payment & Renting Versus Buying

I'm excited to have uploaded four new articles by new team member Doreen. In our newest series of articles, Doreen investigates the pros and cons of renting a home versus buying one. In your quest to save up your home loan down payment, you'll want to consider these pros and cons to make the best decisions, both financially and personally. These articles are full of neat money saving tips and insights about home ownership: reasons to rent versus buy a home, reasons to buy versus rent a home, hidden costs of home ownership, and hidden costs of renting your home.

April 7, 2008
New Team Member and Two New Money Saving Articles

I am extremely excited to introduce Doreen Martel, the newest member of the Save For House team. In addition to myself, Doreen will be writing articles all about saving money for your mortgage down payment or other money saving goal. I'm super excited because Doreen is not only an expert at saving money but is also an expert writer. This means we're going to have a lot more exciting articles about saving money. Doreen's first two articles are officially live: Tips To Save Money This Weekend and How To Save Money On Your Pet.

April 6, 2008
It's The Right Time To Save Money For Your Down Payment

Times are rough. Real estate prices are dropping, the Fed has had to make multiple emergency interest rate cuts, and we're starting to hear politicians talk about recession. Moreover, foreclosures are at record highs and large banks such as Bear Stearns are facing serious trouble. In face of all this turmoil, it's hard to keep a positive attitude. Whether you are a homeowner trying to save more money in face of high mortgage monthly payments, someone like myself saving for your first home, or just trying to get by and save money, I strongly urge you to hang in there and smile. When times are rough, it just means they can only get better. Maintaining a positive attitude is key and will allow you to emerge from a rough patch with financial success. Anecdotally, I have noticed two similar traits in all of my role models in life: a positive attitude and an unrelenting desire to succeed. Keep these two things in mind and you are destined for success.

Saving for your first house? It's definitely more difficult these days because most lenders are requiring a significant down payment. The days of small down payments and 100 percent mortgages are over. While this makes it harder to achieve your dream of homeownership, there are two very positive byproducts. First, your home loan will be more secured with 20 percent down. You will have equity in the game and will have a great start towards owning your home in full. There is nothing more satisfying than knowing you are making an educated financial decision on the road toward financial freedom. If you save up 20 percent, you are 20 percent of the way there towards owning your home in full. Second, house prices are cheaper now. You have to save more for your down payment but home prices are lower helping to offset the down payment requirement. This is a great time to buy your first house while bargains are available. If you buy your first home in the next few years, I'm betting you'll build up some serious equity in the form of price appreciation ten years out.

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