Easy Ways To Save For Your Dream House

jasmine improve

Jasmine Improve (Mansfield Residences, Angeles City)


Money is a big factor in buying a home. Despite the many flexible financing schemes/plans and relatively low interest rates today, many of us still can’t afford to buy a home. Saving for our home seem to be next to impossible.

So, to help you finance your future home, here are some easy tips to jumpstart your housing fund today:


Create a budget plan

Depending on your capacity to save, your budget plan can be done weekly, bimonthly or monthly. Once you have decided on how your budget plan will go, next to do is to analyse your spending habits. How much are you allotting for food, bills, education and recreation? How much can you save for your home? Be both honest and realistic about your spending habits and your saving plans. Then, stick with your savings plan as much as possible. If you are having difficulty, you may try electronic bill. Another option to help you track your budget plan is to print out a list of your monthly/weekly expenses and check them off.


Have a dedicated housing fund bank account

Open a bank account and put all your housing funds here. Avoid using this bank account for unnecessary things. No matter what happens, don’t withdraw from this account. This savings account is off-limits.


Go for automatic savings

Talk to your payroll department and ask them if they can automatically deduct a certain portion from your salary. If not, you may contact your preferred bank and do an auto deduct direct from your payroll. With this, the savings will be done regularly. After a long time, you’ll notice that you’ve built a stable budget for your home.


Use your bonuses to save for your home

Whether it is a tax refund, performance bonus or 13th month pay, you may want to put all of these bonuses or a certain percent to your housing fund instead of splurging on food or recreational activities or buying unnecessary things. After all, these bonuses are, technically, extra money for you.

Be practical

You may want to delay buying an extra phone. You may want to skip that annual beach vacation. Sometimes we spend more than we earn. What’s worst is that we spend on unnecessary things. Before spending think carefully. Make sure that you are spending on what you need and not on what you want. This way you will be able to save big for your home fund.

Find other ways to earn

Spending less is a good way to save. But if you work more and bring more money you may increase your savings faster. You may want to go for an overtime or accept that additional task with additional pay at your work. You may want to take outside work opportunity. Consider your work options and grab every good opportunity to increase your savings.

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