You may be wondering how to be successful at fulfilling your savings plans to save the down payment for your home. Help may be a lot closer than you think it is! Take a look around at your friends and family and find someone who has recently completed the purchase of a new home and ask them for help. Ask them to mentor you and help you be more aware of all of the various ways that you might be missing to save money for your down payment.
Everyone Is Different At Saving Money
Don't forget that all of us will set our savings goals a little differently and many of us will find ways to save money that you might not have thought about. Asking someone to mentor you through the down payment savings process can produce extraordinary results by providing you with ideas for saving money that you might not have thought of.
Savings plans are not cookie cutters. Everyone has a different way to get to the end of the road of saving for their down payments and therefore no two plans will be exactly the same. With different income levels, different savings goals and different options available, you'll be able to discuss with your mentor what your various goals are and ask for their guidance and insight.
Don't Blindly Follow
There's no need for you to blindly follow a mentor but it is very helpful to have someone that you can bounce your savings ideas off. You might find that some options that you didn't consider are available to you and other ideas that might not work for your family. Either way, having a mentor work with you can help keep your spirits up when things seem especially bleak and also have someone around to help celebrate the successes of your savings plan!
Have Patience - Saving Up Your Down Payment Takes Time
Just because you're working hard to make your down payment and you've selected a mentor, does not mean that your savings account is going to triple overnight! Using common sense and asking your mentor for pointers of areas where you might be able to save even more money will be the key to your longer range planning. Patience when saving for your home down payment is the key to your success.
Today having a mentor is becoming more and more common. You could even have a friend who is saving at the same time as you are and you can compare notes and enjoy saving together. It is always fun to have others sharing your goal and a mentor can help you succeed. Not sure where to find your mentor? You may wish to check out iMantri, a new online mentoring community.
This article is written by guest author Doreen Martel exclusively for Save For House.