By: Louis & Carmela Kapeleris

Saving Money to Buy a Home—is all about Priorities.

Tags: Saving Money to Buy a Home

Saving Money to Buy a Home—is all about Priorities. It is all up to You! Are you willing to tighten your belt and Save for a House? 
First try to identify areas where you can cut back and then put Money into a Tax free Savings Account. The best way is to Create a Budget. We can teach you how by Going to our website or email
In the meantime- Here are some great quick tips to save you Thousands of dollars to start..

Number 1- Pay off your credit card debt!
If you are carrying a credit card balance of $5,000 at 19% interest, you are paying almost $1,000 a year to your credit card company in interest. Pay it off and dont Use it again! If you do, pay it off monthly as soon as your get your statment.

2-Take a lunch to work instead of eating out.
If you buy lunch for $7 every working day of the year, you will end up spending over $1,800 a year. Try not to Eat out. 

Buy a Quality Used Vehicle that is still under warranty rather than a New One-“A new $28,000 car will lose about $17,000 dollars of value in the first four years you own it. Buying a used car saves you tens of thousands of dollars.

If you have two cars, consider getting rid of one Car.  You could look at moving closer to where you or your partner works. You could consider walking,carpooling or taking transit (80% cheaper than owning a car), 

Look for cheaper ways to do things.This is how smart people save a lot of money. Here are some great examples:
Stick to your Grocery List. Dont always buy Brand names. Shopping at discount grocery stores can save you 10% on your groceries and buying your produce at a produce store can save you 32%.

Save your change. At the end of each day, put your loose change into a jar.
Give yourself an allowance and stick with it.
Don’t carry a lot of cash—or credit cards—in your wallet. Impulse spending is harder if you have to go to the bank machine to get money.

If you have a busy family, you can really save money if you eat at home more often (and this includes buying less snacks and drinks on the run), and look for fun things to do around your community that are free or don’t cost very much.

Do you go out to a lot of movies? Try renting or sticking with cable. Some people are now even dropping their cable in favor of watching shows online.

Do you buy a lot of new books? Try the library. 

Instead of buying a coffee every day, make your own. If you spend only $2 on a cup of coffee every working day, that adds up to $500 per year. 
Do you take expensive vacations? Try something less expensive or closer to home for a while.

If you are able to work some of these changes into your lifestyle, you will definitely save money. The Tax Free Savings Account can be a great place to save your down payment money. The money can grow tax free in this account.

For more information contact us at 416-543-6887 or email us at