Home - Additional Money Saving Articles
October 2007 Money Saving Tips
November 2007 Ways To Save Money
December 2007 Money Saving Blog
Jan-Feb 2008 Down Payment Savings
April 2008 Down Payment Info
May 2008 Mortgage Down Payment
Jun-Dec 2008 Buying Our First Home
"Save money for your mortgage down payment by reading our money saving tips and articles."
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March 27, 2008
Save Up Your Mortgage Down Payment, It's A Game
Stressed out about saving money for your mortgage down payment or other large savings goal?
Don't be! Life is meant to be fun, saving money too. I came across a really cool site which
I just had to share with you,
Save Money Games. As the name implies, this site contains
a lot of really neat games all about saving money. If you are saving money anyways, why not have fun
Saving money for your home loan down payment can be stressful. Most recently, the stock market has
been really volatile, the economy is not doing so great, and I'm getting worried about
inflation taking a toll on my savings.
Moreover, I'm a little upset because I made some big purchases which I know are going to
set me back from my goal of saving up my down payment. At the same time, I know worry and stress is
counterproductive, both for my health and wallet. My personal goal is to use some of the games on
Save Money Games to get my focus back on track and have some fun saving money. It will be so
rewarding when I have saved my down payment and own my first house.
March 24, 2008
Some Neat Tips To Save Money For Your House
In general, I try to avoid buying magazines at the supermarket. The cost can really add up at around
$3 or more per magazine. In fact, I estimate that I'm saving around $72 per year by cutting back on
my magazine purchases, one of my
top 10 simple ways to save money.
At the same time, you can't put a price on education. If you see a magazine that's educational, I
think that the learning and satisfaction you get out of reading it will far outweigh the cost. I had
this exact experience with the March, 2008 edition of Money magazine. In general this is a good
magazine if you're new to investing, finances, and saving money. Of particular interest in the March
2008 edition is an article on page 46 about some neat tricks to save money titled, To Be a Better
Saver, Try These Tricks by Walter Updegrave.
The article presents some really neat money saving tips, whether you are just trying to save
money in general during our rough economy or saving to buy your first house like myself. The overall
premise of the article is that saving money is a mind game, one that you must battle all the time.
While your mind is geared toward short term gratification, saving money is a long term strategic
initiative. The author presents several money saving strategies but my favorite by far is
dangle a carrot. This means you reward yourself for hitting your goals, much like salespeople
are rewarded via commissions. For example, if you save $5,000 why not reward yourself with a weekend
getaway? (Just make sure to spend no more than a few hundred on your getaway.) Other tactics discussed
are punishing yourself with a fine if you miss your savings goals and also making your saving automatic.
Automatically deduct an amount from your paycheck and deposit it in a savings account that you don't
touch, ideally a high yield savings account (although high yield savings accounts aren't exactly
yielding so much in this low interest rate environment). This will eliminate temptation and allow you
to stay on target to hit your long term savings goals. I am a big believer in the mental side of
saving money and battle myself with temptations to spend money everyday because I dream of a luxurious
lifestyle. At the same time, I know that if I can save for my own condo or townhouse down payment,
I will be living a much nicer lifestyle than I am now. This is the image I think of over and over
again to stay motivated.
March 16, 2008
Saving Money Vs. Making More Money
If you are a regular visitor to my site, you may have noticed that the volume of new blog posts
has slowed down. There is good reason. I have been spending most of my free time trying to make
more money. There are two ways to save for home loan down payment or other money saving goal.
The first is "saving" money. Saving means you spend less. Looking at yourself objectively
like a business, you are cutting costs. I like saving money because it is usually a game
of willpower. Can you trick you mind into thinking about the long term advantages of savings versus
the short term enjoyment of a fancy dinner out?
The second way of reaching a savings goal (or just improving your personal finances in general) is to
make more money. Making more money involves additional work. You need to spend more of your
time at a
or start your own business, preferably at home. There are pros and cons of making more
money versus purely cutting costs. Making more money involves a lot of time and it's easy to burn
out. At the same time, making more money is a form of financial leverage. You're going to reach
your savings goal a lot faster if you make more money (you can only re-coup so much by cutting
costs). Moreover, if you start your own business, making more money can be a lot of fun and boost
your personal morale. It's a really neat thing to know you own the business you are creating. That's
exactly what I'm doing right now and why I haven't been writing quite as many blog posts and
articles for this site as I used to. I am trying to make more money for my house down payment by
starting income producing
websites. I actually have launched two sites in addition to this one, both with completely different
topics. I would encourage all of you to consider making more money in addition to saving money. If
you combine these two tactics, you will reach your savings goals and improve your finances
with a lot more leverage. Just remember to get some sleep. Also, does this mean I will not be writing
more blog entries and articles for this site? Absolutely not. I have some really neat money saving
articles in the pipeline, just in time for spring and summer.
March 2, 2008
Money Saving Tips For Easter and Holidays
Easter is coming up and today's article is all about ways to save money during Easter and holidays
in general. I'm thankful to my girlfriend for the inspiration behind this money saving tip. Her
family has been saving money every holiday forever by leveraging these great strategies. Rule one:
Always buy decorations and cards after the holiday is over. After Easter is over, nobody is
going to be interested in Easter decorations. Retailers will discount them very heavily, sometimes
by 50 percent or more. If you think ahead to next year, you will save a bundle. The decorations and
cards will be exactly the same next season, only you will have to pay full price. This rule doesn't
just apply to Easter. You can also save a ton of money in the post-holiday sales after Christmas,
Halloween, and Valentines Day. Money saving rule two: Shop for bargains. Each holiday, there
are always bargains to be found. You can find money saving bargains by
comparison shopping online
or by being a savvy shopper in the malls. My girlfriend and I personally always find great bargains
at Target's "the dollar spot." They always have some great deals on holiday decorations
for one dollar. Rule number three: Why not make your own decorations and cards? You can save a lot
of money by avoiding shopping altogether and making your own decorations. Plus, it's a lot of fun
and adds a great personal touch to your decorating. Why not have a fun family activity making
decorations one weekend? Money saving rule four: Have a pot luck dinner. If you like entertaining,
don't always pay for everything. Have your guests each bring a dish so you can even out the expenses.
It's always fun to try out different dishes and your wallet will thank you too. This Easter, it's
time to have more fun than ever and also save some serious money towards your down payment or other