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How To Save Money For A Downpayment
I remember it like it was yesterday. I was on a first date, which I’ll admit I don’t get many of, and my new female friend and I were laughing and having a good time. Things were going well and then she asked me if I had my own place. I slowly sank in my chair and admitted that at 27 years old I still lived at home with my parents. The second I said this, her mood instantly changed and about five minutes later she excused herself and walked out on the date. It was at this moment that I realized I needed to get serious about buying a house. All I had to figure out was how I could amass enough money for a downpayment, so with that being said, let me share with you the 5 steps I took to do just that!
Step #1: Develop an income stream
Have you ever heard the saying, “don’t put the cart before the horse?”. Well, I’m no horse expert but what I can tell you is that this saying also pertains to saving up for a down payment. Before you can start to save up a down payment, the first thing you must have in place is a means of generating income. For most people, this income stream will come in the form of a job. Now, there is nothing wrong with having a job, except for basically all the limitations that come with having one. What are those limitations? Let me explain.
