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There are many methods for hitting your down payment goal, though, and some are surprisingly easy.
Here are four low-effort ways to startsaving for a down payment on a home.
Budget
Budgeting is an integral part of saving up for a down payment.
A simple solution is to download a budgeting app.
The envelope method involves taking cash out of your bank account and dividing it into envelopes.
Each envelope is your allowance fordifferent spending categories, such as groceries, eating out, entertainment and gas.
As the money dwindles inside an envelope, youll have no choice but to spend less in that area.
In the end, youll be able to save more and develop better spending habits.
One good option is sending a fixed amount of your income to a high-yield savings account.
However, you may have limitations regarding withdrawals and transfers, so plan ahead or speak with an advisor.
Subscribing to more services means its easier to forget what youre paying for, which can add up.
When you run through your list of subscriptions, consider how much you use each service.
Sometimes, its best to cancel the subscription to see if youll even miss it.
Next Gen Personal Finance reports that the average American pays $55 a month forvideo streaming servicesalone.
Sell
Over time, everyone accumulates a lot of things that they dont need.
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