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Save Money For A House In Denver In 6 Ways

Posted on: November 8th, 2016 by , No Comments

Read this blog to figure out how to save money for a house in Denver’s tough market.

Save money for a house in Denver, easy to do right? Even for the most frugal and budget-conscious, achieving the goal to save money for a house in Denver is rarely an easy thing to do. The path to reaching that coveted end goal is filled with distractions and impulse spending that are challenging to wrestle with, and long-term thinking can quickly be taken over by a desire for a fancy new car.

Whether the goal is a Hawaiian vacation or the deposit on a hefty apartment for rent in Denver, Colorado, to save money for a house requires more than setting a numerical goal and establishing a timeline. It requires a careful look at spending habits that can slip under the radar, undetected. We’re talking about those “Slight Edge” habits that seem harmless in the moment but can pack a big punch when tallied up together when you save money for a house.

What are action steps to save money for a house in Denver?

1. Your Daily Habits

Habits are easy to create and they are easy not to. You go to Starbucks and your Barista knows your name and drink and it’s very convenient. Especially if you’re always in a rush. The first thing to do is be aware of your routine and change anything that is not a necessary need. If it’s a impulse want, you must cut it out if you want to reach your goals.

Self awareness and mindfulness are going to be the best way to overcome any emotional decisions you are making with your money. It doesn’t mean you have to go cold turkey or cut out ways of rewarding yourself. It’s about finding new ways to enjoy yourself without having to go overboard. For example, if you are used to going to lunch with your co-workers and spend $10-12.00, start buying items in bulk and bring your own lunch. Whether that’s leftovers from dinner or simple sandwiches with an apple. That way you’re not compromising going out to lunch with your co-workers and being all by yourself but now you’re just changing your approach in your spending habit. Same with the coffee example, I’m sure if you bought a travel mug you’ll be inspired to bring your own coffee with you in the mornings to work. Saving time and money.

2. Logical Decisions vs. Emotional Decisions

Even if you head to a Costco ready with a list of “needs”, it’s easy to walk out with last minute impulse purchases. It’s very difficult to go into the Park Meadows Mall and buy something you didn’t need. This can even come down to simply feeling like you have a physical connection to the product. “If a shopper touches or picks up the merchandise they are more likely to buy it.”, says MarketingTeacher.com in an article on consumer behavior shopping. It’s obvious that hunger will drive someone to make a purchase on the fly as well. Who doesn’t want a big juicy cheeseburger and fries when their stomach is growling? However, “Hunger is assumed to motivate eating, which satisfies the caloric needs underlying the motivation. However, hunger’s influence extends beyond food consumption to the acquisition of nonfood items that cannot satisfy the underlying need..”, says a study from the University of Michigan.

3. Cheaper, Better, Faster

We live in a world where things are truly getting more advanced and make day to day life a breeze compared to how manual life used to be. Most of us may have a, “go-go-go!” lifestyle. There’s always something that must be done right now in the moment. What happened to organizing your desk? Did you forget to pay your phone bill? Here are some simple apps you may use that can help you get your life more “automated” with the things you shouldn’t have to ponder upon.. like paying bills. The great thing is all of these apps can be downloaded on your phone. Which you probably have within arms reach 24/7.

4. Rethink Your Phone Plan

Competition is fierce when it comes to cellphone carriers, because the market is saturated with options for consumers. Take advantage of this and evaluate your phone and data plans and call customer service to negotiate your plan. There’s usually a new plan that fits your usage better than when you signed your contract. If not, don’t be afraid to look at prepaid plans. It cuts out the guesswork of what your phone bill may be month to month, and the prepaid plans operate on the same networks as the big carriers. You should save money just by this alone.

5. Negotiate Your Insurance Rates

Insurance for your home, rental, car, and health is negotiable — for all of them. Insurance rates fluctuate often, so you could be missing out on a lower rate if you don’t shop around for new insurance at least once per year. Plus, competition is high among insurance companies, and you may qualify for certain discounts based on your age or risk with a different plan. You may qualify for a new discount, or you may be able to raise your deductible and see some savings.

6. Plan Ahead When You Shop

Couponing is one simple way to cut expenses, but it’s not for everyone. One top alternative for cutting those grocery expenses is to know the cost of the top 20 things you buy most often (think toilet paper, trash bags, eggs, bread and butter). That way, when you see the prices go up or down, you’ll know if you’re getting a good deal. These little changes in strategic shopping can help you cut down on expenses over time. Also, you’ll not what is absolutely necessary to buy in bulk because then you’ll save money and time from repeat trips to the store for that one item.

Adam Buys Houses Company is a local Denver real estate company that specializes in many aspects of real estate. If you have to sell a house in Colorado, give us a call directly at 303-997-2045 or click here to sell a Colorado house.

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