Monday, October 25, 2021

Tips For Saving Every Day To Buy A Pied-a-Terre

 To be able to buy a second home somewhere else close to where you work is a huge privilege and a dream for many of those working in the center of a city. Working long hours often means that you need a crash pad somewhere to be able to chill out after work without any travel to get home. A pied-a-terre does this for you with ease, and you can make your second home the perfect place to relax. The biggest issue you might have is saving for that second home - money doesn't grow on trees, unfortunately.

It’s money that stops most people from making these choices about their second home needs, but it’s also something you can overcome. With careful planning and a lot of measured work, you can save every single day to make the dream of a second home come true.

Image Source: Pexels

  1. Look at your current accounts. Before you can decide what to do with your money, you need to ensure that you are aware of your current account activity. Are you costing yourself the chance to save by the way in which you spend your money? Looking at your current account workings, you can see where you can spare a few dollars a day to go toward your funds for saving.

  2. Stop buying at the register. Impulse buys are the devil for most people; they’re super tempting and they are only ever a few dollars at a time. The thing is, those few dollars really do add up. You might be looking at buying and offering short term lease apartments to others, but you still need to save for it no matter the size of the mortgage. With a little more control over impulse purchases you can start to afford that deposit for the second home you need.

  3. Keep an eye on sales. You can make a lot of savings when you choose to buy in the sales as much as possible. Stores always change their pricing and if you buy things on offer, you will shrink your grocery bills pretty quickly.

  4. Crack on with a side hustle. You might be working full time but that doesn't mean that you can’t have a side hustle to add to your income. You might not want a formal part time job but that doesn't mean that you can’t use your time scrolling on your phone to earn some cash. Not everything has to be mindless! 

  5. Always round up. When you are buying groceries and something is going to cost you in between dollar amounts, round up the rest and move it to a savings account. Sure, this might mean something less than you expected each time, a few cents at a time might not seem like a lot but it soon adds up.

These tips will take some time, but once you get into the swing of things, you’ll have saved up enough money on a house deposit to get you started.

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