You know what they say, ‘renting is dead money’. And while many of us have little choice and are at the mercy of extortionate rental prices, it only makes the desire to own our own property burn a little bit brighter.
Sadly, when you’re juggling high rental prices with rising energy bills and all your other financial responsibilities, there’s little left over to place in your savings account each month. It’s a vicious circle, but with a little more grit and determination, you may find yourself a step closer to your homeowner dream. Remember, when it comes to a house deposit, every penny and every pound makes a difference. So, read on for how you can save for your first home faster, with these effective ideas.
Sell items of value
Every penny and every pound counts, and you may be surprised at how many items of value you have at home that could give your savings a little boost. For example, if you’re still hanging onto those old silver earrings that you no longer wear, broken silver or gold necklaces, broken gold or silver jewellery or other items made of precious metals that you no longer want, no matter the size or condition you could sell them on for cash.
If you choose to sell your silver with lois-bullion.com you’ll always get the latest spot price and your money sent to your account on the same day. Getting you a step closer to your property goals. What are you waiting for? See what you have stashed away, now!
Consider moving back home
This option may not be practical and depends entirely on your personal circumstances, but many first time buyers who are reaching for that house deposit, get there much faster whey move back home. Don’t see it as a step back, many adults still live at home, simply because they’re struggling to afford rent on a single income, or because they’re hoping to save. Speak with your family and consider your options.
A side hustle or a second income
Not everyone has the time or the energy to take on a second job, but that doesn’t mean you can’t earn an additional income. You may be able to earn a little more in your free time, from the comfort of your own home. From freelance work such as data entry, voice acting and copywriting work to something a little more niche such as selling macramé creations, or handcrafted cards. Whatever skills, talents, or hobbies you have could help you reach your target.
And finally, ensure you and your partner are on the same page
Is your partner putting in as much effort as you? You may earn different salaries, but if they’re spending their money on clothes, alcohol, and other personal items while everything you have is going into your savings account, then it may be time to have a chat. Ensuring you’re both on the same page means you’re both investing in your future and you’re likely to hit your savings goal much faster! Remember, two savers, are better than one!
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