Thursday, October 10, 2013

Go on a money diet before house hunting

Ellen James Martin, AZ Republic, June 26, 2011, wrote about thinking of buying a home. Now, this is more relevant because people actually are doing it.

First, you will need some cash--it's not like the old days. But it is also not like the 20% down thing people have been saying.

But--the more cash the better. Sellers will often take a lower bid from a buyer with lots of cash.

If you need to amass cash in a hurry, stop impulse buying. No more catalogs, internet browsing. I buy everything on ebay--over-the-counter meds, cosmetics, clothes--you can get real bargains. And many times there is no shipping charge.

Take a hard look at your spending--needs, wants, or just things you do because you have always done them or are lazy (eating out, for example).

Chart every cent for a few months.

Do more home cooking. Does every adult need a car?

Sign up for an automatic savings program.

Can you think of other ways?

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