How Do You Save Money to Buy a House?


Quick Answer

Starting a bank account or a change can are ways to start saving for a home. Starting a home-buying fund does not have to be complicated; small amounts can add up quickly.

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Full Answer

It is easier to save money to buy a home than many people think. One of the ways a person can start saving is by putting his coins in the piggy bank or coffee can. When the can is full, the coins can either be transferred into another container, or deposited into an account at the bank.

To save even bigger amounts, a person can designate a percentage of a paycheck to be set aside in a savings account. For example, if a person earns $500 a week and decides to save 10 percent of the income, that equates to $200 a month saved toward a home. In a year's time, $2,400 has been saved toward a home.

Other ways a person can find the money to save for a home include changing spending habits. Stopping for coffee one less day a week, taking a bag lunch to work instead of going out to eat, and clipping coupons are ways to free up funds that can be applied toward buying a home.

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