Saving for a down payment?

Today's blog post was inspired by a newsletter from my friend, Jennifer Seidelman. You can find her original post here,

According to Jennifer, there are several ways to save for a down payment:

Set up automatic deposits.
Try a round-off app.
Cut down on spending.
Clean house.

I've combined the first two methods by setting up an automatic deposit to my Acorns account, as well as using it to round up my purchases. If you don't have an Acorns account, you can go here and sign up for a free account. In fact when you sign up using my link, we'll each get $5 from Acorns to invest right away.

I'm also working on the third one, although I have a ways to go. I use YNAB (You Need a Budget) to track my expenses, which makes it easier to get my expenses under control, since you can't control your expenses if you don't know what you're spending your money on. If you click on the YNAB link above, we'll both get a free month added to our subscriptions. If you want to find out more about YNAB and Acorns, I've written about them here.

Number four sounds like something I can take advantage of also. Jennifer links to an article that discusses the 5 Best Apps for Buying and Selling Used Stuff. I've heard of letgo, but I haven't heard of the others.

If you're able to earn more money AND save on your taxes, you'll be able to put even more money away for your down payment. An excellent way to do this is to start your own home based business. With a home based business, not only can you make some extra money, but many of your current expenses can be fully or partially tax deductible...such as part of your rent or mortgage and utilities if you have a dedicated space for a home office, meals and mileage if the money is spent building your business, some of your health insurance premiums, and much more. I highly recommend the company I'm with: SendOutCards, if you don't currently have a home based business.

And in wrapping up:

Remember, you don't need the mythical 20 percent down payment ready and available to buy a home. In fact, thanks to low down payment loan options and a plethora of down payment assistance programs, you can actually buy a property with much less than that -- sometimes just 3 percent!

If you're looking to buy or sell a home in the Portland or San Francisco Bay Areas, check out Jennifer's website!

Interesting days

Today - Piñata Day, Amateur Radio Day, Pet Owners Independence Day, Banana Day, Columnists Day, Lineman Appreciation Day and World Heritage Day

Tomorrow - Kickball Day, College Student Grief Awareness Day, High Five Day, Hanging Out Day, Bicycle Day, Garlic Day, Poetry And The Creative Mind Day and Rice Ball Day

Next Wednesday - Golf Day, DNA Day, Hug A Plumber Day, Administrative Professionals Day, Malaria Day, International Guide Dogs Day and World Stationery Day

May 18 - Bike To Work Day, No Dirty Dishes Day, Endangered Species Day, Pizza Party Day, International Virtual Assistants Day, Visit Your Relatives Day, Shades Day and Museum Day