Saving for a new home purchase

Preparing to purchase a home? It’s time to get your finances in order. Saving for your home will prepare you for a
down payment and other costs of homebuying, but also any unexpected expenses along the way. Here are a few tips for
saving for your new home:

Budget

Creating a monthly budget will help you see what you spend money on and where you can cut unnecessary expenses out.
If you have a budget already, consider revisiting it to readjust for your new goals.

Stash your savings

Saving money in a separate account is helpful, as there will be less temptation to spend it in the meantime. Whatever
you save should go into the proverbial lockbox until it’s time to buy a home.

Automate it

Your savings should automatically come out of your paycheck or withdraw from your checking account. By doing this,
you can trust your savings is growing, even if you forget to contribute yourself.

By adopting new savings and spending habits, you’ll put yourself in the position to get your home sooner than later.