How I would save for a home in 2024

Carousel

Jul 10

Written By Quinn Danniels

Caption:

Ready to start saving for a home in 2024? Let’s make it happen!

Swipe through to see exactly how I would save for a home this year →

1 - Track Your Expenses: Use apps like Monarch Money, NerdWallet, or YNAB to get a clear picture of your finances.

2 - Budget Accordingly (50/30/20 Rule): Take control of your budgeting by spending no more than 50% of your monthly income on needs, 30% on wants, and put the last 20% into savings.

3 - Create Your “House Fund” & Don’t Touch It!: Save at least 5% of the home’s price for your down payment. Put this money into a high-interest savings account or investment account, depending on your timeline. Commit to monthly contributions and any lump sums. Let it grow undisturbed until you’re ready to buy.

4 - Consider Tax-Advantaged Accounts: A simple way to save more efficiently.

5 - Maintain a Good Credit Score: Keep your credit utilization below 30% and always pay your bills on time.

6 - Easy Saving Tips:

✨ Save on Rent

✨ Live at Home Longer / Move in with Parents

✨ Cut Unnecessary Expenses

✨ Cut Out Subscriptions

Follow for more real estate advice and tips on making your dream home a reality.

#HomeBuying2024 #SaveForAHome #RealEstateTips

Open in Canva

Educational