Are you trying to save up money for a new Honda but having trouble getting started? Here are a few money-saving hacks that will help you save toward a down payment:
- Eat in: Eating out at restaurants or getting takeout gets expensive. Instead, set a firm grocery budget for every week, buy everything you need, and just eat meals at home. It’s cheaper and
- Adjust your utilities usage: By running your air conditioning just a little warmer in the summer and your heater a little cooler in the summer, you can save some serious money on utilities.
- Find unique ways to make money from home: Get into freelance writing, consider signing up for Airbnb, or just start taking surveys while watching TV. The Penny Hoarder offers lots of unique ideas for making money on the side.
- Build out a budget: If you haven’t sat down with budgeting software — or even a spreadsheet — to build out a budget, that’s your first mistake. Calculate your monthly take-home pay and your monthly expenses (i.e., required expenses like rent, utilities, food, etc.). Whatever is left over is your “fun money” and “investment money.” How much you set aside for fun things like Netflix or nights out with friends directly affects how much you can invest in a high-yield savings account. If you are serious about saving, always put more toward “investment money.”
You can also save money on a car by buying used, leasing, or simply buying an inexpensive car that doesn’t compromise on features. Learn more at Bryan Honda.