Any money saving ideas?

My partner and I need to save some money fast for our first house deposit and I was wondering if anyone had some good money saving tips? I am already pretty savvy but short of selling a car for the deposit (which would break his heart) we are screwed right now!


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Most Helpful Guy

  • Just the normal advice you can find all over the internet. I find one of the bigger expenses that can be cut most people have is food. Most people are surprised by how much they spend everyday on food. Often it is over $20 a person for food each day. At the end of the month that is about $600 in food for just one person. It is real easy to spend that much without realizing it. If you eat out a lot each meal is generally at least $5 each, and a couple of sodas or an energy drink over the course of the day, and you are spending close to $20 just for food and drinks.

    Only eat food made at home.
    Plan meals carefully so nothing spoils or goes to waste.
    Compare prices at different stores.
    Clip coupons from the paper.
    Look online for coupons.
    Don't drink anything from a vending machine.
    Look for foods you don't eat often that are cheaper than what you do eat more often. For example pork chops might be cheaper than the beef you would normally buy.
    Cancel any services you don't need such as cable.
    Check for better deals of on things like phone service and car insurance.
    Don't buy anything on credit if you can help it, to prevent you from having to pay interest.

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Most Helpful Girl

  • Why is coming up with the cash for your mortgage down payment so vital right this very minute? Most people just rent until they have enough for a down payment. Relax.

    How many cars do you need? If you have more than two, consider selling the excess.

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    • We have been renting for 18 months and the place where we live is getting overun with the type of people you dont want to be around. Also, we are going to get on a government scheme and this ends this year. We can save about £1000 a month but wanted any ideas to raise extra cash as the more we get the cheaper a mortgage will be. We own 3 cars, I need one for work, as does he and the other car we have is a collectible which we will sell if we must and then purchase another when we have re-saved but my partner has put a lot of work into it and would be gutted to see it go.

    • You could always go into an old lady's house and steal the money she keeps under her mattress.

    • Ha unfortunately the only one I knew who did that died :( How inconsiderate of her!!

What Guys Said 4

  • First the idea of saving is to keep your valuable assets. So selling the car wouldn't be a good idea if you really need it.

    Also you need to think long term and not just about the deposit. Can you actually afford the following payments after you have made the deposit and is your income steady enough for that whole period of payments. Sometimes it's actually better to rent and put your money into money building assets rather than a home. What this does is it gives you enough capital to make more money to be able to afford the home later. Struggling to save up for a home is a dead end as you have put your well earned money into a non cash earning asset and will have to get more capital to put into other things.

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  • divide your income into 2, savings, and expenditure. spend on what is necessary.

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    • already do...

    • cut spending, eat twice, share meals. Think and think and you discover what is taking your money and cut them.

  • Saving is one way to achieve your goals, but there's a limit to how much you can save.

    Another way to reach your goals is to increase your income.

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  • Don't spend it.

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    • we are not needless spenders, we are super savvy so this is why its so tough!

    • Well you didn't say invest it. You said how can we save...

    • yeah so I am looking for other ideas, not necessarily investing but maybe making more (we both work full time demanding jobs)

What Girls Said 1

  • Make a new account and deposit $5 into it every week

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