How to save enough money to buy a house is a dilemma for many people. Especially those with low incomes. Difficult but not impossible, as long as you know how to achieve your goal. Learn how to save money buying a house with AequitasAudit.com through the sharing below!
Simple ways to save money to buy a house in everyday life
Use public transport
Using public transport will help you reduce travel costs. From fuel costs to maintenance costs for personal vehicles.
Of course, in Vietnam, the use of public transport is quite limited for many people, especially those who are already working. But if you can use public transport, you will save quite a bit every month.
One of the most popular public transport today is the bus. Just get up a little earlier, walk to the bus station and you will catch the bus. While in the car, you can also have some time to read a few pages of a book, recalculate a little about upcoming plans, etc. Although knowing that, using the bus as the main means of transportation is not for everyone. can also do. But if possible, try taking public transport for a while.
In the near future, Vietnam will put into use the overhead tramway (MRT). You will have one more means of transportation to choose from.
Currently, almost all banks have different fees and also periodically increase prices. Although those fees are usually not much different, but the longer you go, the more you will find that fee is quite large. So, why don’t you switch to a new bank with more suitable fees when you see the old bank increase fees beyond the normal rate?
Maybe, at first when you switch to a new bank, you don’t see a noticeable change. But later, when you add up, you may have to shiver because the cost is quite large. A small change will save you some money on your home buying journey.
Cook at home instead of going to a restaurant
This is the 3rd home saving way that AequitasAudit.com wants to share with you. Surely, without much explanation, you can understand why eating at home is more economical, right?
Do a little comparison. If you take the time to go to the market to cook, how much will it cost? Then bring that cost compared to a meal out, it will definitely be much cheaper! Moreover, changing your eating habits will help you ensure nutritious and hygienic meals.
Control telecom costs
The cost of telecommunications will include: phone, internet and cable TV fees… It is the necessary expense to maintain the connection with the world in modern life. In addition, it is also a necessary investment for work and social relationships. But most of us spend more on telecommunications than we need and use.
Review your telecommunications bills for the last 6 months and reassess your actual needs. Do you need to rent fiber optic internet just to surf the web? Do you need to rent a cable TV package with hundreds of channels while not watching TV often? Do you need to call that much when you have email and chat? And do you really need 3G to get online at high speed anytime, anywhere, or just to “check in” and show off photos on Facebook?
Once you’ve clarified these costs, you’ll know which fees you should choose to cut. From there, your telecommunications costs will be greatly reduced but still ensure the capacity you need.
Actively borrow instead of buy
Please be careful and read carefully, we do not recommend that you can borrow someone else’s instead of buying. But if so, you will easily become a ki bo, stingy in the eyes of everyone.
You can borrow your friends documents, books, travel bags, costumes and accessories for a special occasion. Because they must also regret the dresses that can only be worn 1-2 times. Or travel items and technology items if you only use them for a few days.
Today, services to read books and watch movies online are extremely cheap. You can use this method instead of spending money to rent books or movies. You also need to have a sense of preserving and using borrowed things more carefully than your own belongings. It is both a way to save money and to protect your own reputation – something that no money can buy.
Avoid borrowing money, cosmetics, phones, necessities, and daily necessities. These are things you are responsible for arming yourself with. In fact, no one is comfortable lending you things that they also struggle to pay for their daily lives.
Take advantage of promotions, discounts
Buying on promotion will save you a lot of money. However, it is also a “double-edged sword”. If you shop on sale without a plan in advance, your plan to save money to buy a house is also easily ruined. Instead of shopping innocently and because it feels “too cheap to buy, it’s a waste”, make a list of the items you need each sale.
In addition, you can buy goods out of season. Warm clothes, for example, are often half off or more in late spring. On the contrary, cool clothes for summer will be very cheap in winter.
If you have applied all the ways to save money to buy a house and still not enough, you can completely consider the investment plan. Invest profitably from the money you have using many methods. But either method, you need to have knowledge in that area.
If you are knowledgeable in the field of finance, macro business, you can start with securities. This investment channel is quite easy because it is only necessary to create a trading account with securities companies. You can start experimenting with a capital of 5 million VND. Once you gain experience, you can start increasing your budget. You will be very surprised with the results of “compound interest”.
With a larger amount of capital, you should not save money to buy a house by depositing it in a bank to make a profit. Instead, you should start buying a small piece of land in the periphery with clear legality, potential planning… Real estate is also a good profitable channel.
Some other notes
Set limits on unforeseen expenses. For example, if you plan to go out with friends this weekend, set a maximum spending limit for the gathering. Then keep this money in a separate compartment in the wallet. And most of all, try to only spend this money during the outing.
Prioritize spending cash instead of swiping cards (whether credit cards or ATM cards). Carry only a moderate amount of cash with you. By using cash, you won’t be able to spend more than you have. This may not save you money, but it will help you avoid a deficit from overspending.
Buy a multi-compartment wallet. The currency stipulates that each compartment is the maximum amount that can be spent for one type of goods and services in a month. For example, compartment for food and drink, compartment for necessities. Or save money to buy clothes and miscellaneous, compartment to pay bills… You just need to calculate the limit for these expenses at the beginning of the month. Then just spend some of it, the more the better.
Above, AequitasAudit.com has told you some effective ways to save money to buy a house. At first glance, it looks simple, but not everyone can do it. To do this, you need to have perseverance and determination. Good luck.
Don’t forget to visit AequitasAudit.com regularly to keep up to date with great tips!
Phuong Dung – Real Estate Analyst
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