To Buy A House You Must Save

We have all seen the old movies where somewhere in the house there was a savings jar.   Maybe it was a cookie jar or an old coffee tin.   Usually hidden somewhere in the house to keep it safe.   There is a good reason that shows up in those movies, because almost every household had a savings jar or tin where they put money.   They might have a bank account too, but they were always saving.   I wonder how many of us today have a savings jar.   I have several, a couple of boxes and a clear plastic jar.   That’s my jar in the picture.   It isn’t much because I transfer money out of the jar to the bank when it adds up.

Right now NOW is when you have to be saving to buy a house. Not when you want to buy. You can’t charge it on a card then save to pay for it before the bill comes.

Where To Start Saving

A Savings Jar

What do you do?  Maybe you have never saved. Where to start. Start small get a glass jar, (plastic if you have children). Easier to see your savings adding up in a clear jar. Then make a list of ways you can save a little here and there this week.

• Small coffee instead of a large.
• Skip the latte.
• Brown bag your lunch one day this week.
• At the end of the day put all your change in the jar

But that’s just the beginning; when you do save don’t just feel like you saved. You have to put that money in the jar. If it stays in your pocket you didn’t save anything and at the end of the week you will give up on a savings plan with a couple of quarters and nickles in a jar with a big echo. If you want daily gratification keep a daily journal of your savings.

In a couple of weeks it will become a habit and in a month you will be amazed at how much money is in the jar.

More Ways to Save

Got Stuff? Stuff you no longer use laying around the house. Have a garage sale or if you are an Ebay buyer become an Ebay seller. Put the money in the jar.

Instead of watching a couple of reruns this week, bake some cookies, pies, etc. and sell those fruits of your labor.   Do you have a small wood shop or some woodworking tools, make some things you can sell.   A garage sale is a good place to introduce neighbors and others to your skills and projects. Put the money in the jar.

I’ve done this in the past. It works. This week I’m going to pay closer attention to what goes in my savings jar. I’ve been thinking about buying an investment property myself.

There are, and will be, some real bargains in real estate in 2009. I’m pretty sure there will be good buys available for some time to come.

One thing is certain it is never a bad time to save.