7 Tips on How to save for Your First Home ...

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Looking for information on how to save for your first home? As someone who’s purchased one home, and currently in the process of buying another, I’ll provide practical tips to help you reach this goal. It’s a tough economy, and if you don’t have a lot of extra income, saving for a down payment is challenging. Don’t let this discourage you. Here are some of the best tips on how to save for your first home.

1. Pay Yourself First

If you need information on how to save for your first home, here’s an important piece of advice: pay yourself first. Before you give money to your landlord, your auto lender or MasterCard, deposit a percentage of your income into a savings account. This is challenging at first, but once you get into a routine, it’ll become second nature. Aim for 10% of your earnings, but go lower if this is a stretch.

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