Eliminate 8 Money Wasters to Save for a Down Payment


1st Feb 2016

If your goal in 2016 is to save enough money for a down payment on a new home, here’s eight money wasters you can eliminate.  Author Angela Colley’s article “Resolve to Give Up These 8 Money Waters fro a Down Payment Before 2017” identifies 8 items you can remove from your spending to save $9,400 by the end of 2016. These items consume your discretionary spending and limit your ability to save.

  1. Skip the latte

Annual savings: $876 (plus taxes!)

  1. Cut the gym membership

Annual savings: $696

  1. Cancel the cable

Annual savings: $1,189

  1. While you’re at it, drop a streaming service

Annual savings: Nearly $100

  1. Lower your mega smartphone plan

Annual savings: Up to $300

  1. Pack a lunch instead of buying it

Annual savings: $1,714

  1. Quit drinking

Annual savings: $3,168

  1. Go to the cleaners less often

Annual savings: $1,354

Read the full article “Resolve to Give Up These 8 Money Wasters for a Down Payment Before 2017” on realtor.com