How to Save Money When Building a Dream House


Hallo! Who doesn't want to have their own dream home? Of course, everyone wants to have the house of their dreams. But this is often hindered, not because of insufficient income but rather the absence of a savings strategy. It is no wonder the savings made to build a house often do not increase or leak because they are used for other purposes.

Therefore, you need a strategy or a way that can make savings for the house again. In this article we will tell you how and where to save to build a house to be successful. Yes! Check out the explanation at the end.

How to Save Money When Building a Dream House

The saving method has been around for a long time, but saving often does not give maximum results because there is no encouragement that makes you do it regularly. Therefore, some of the ways and tips below are expected to help you save. 

 

1. Establish Specific Objectives

Not only in saving, all work and activities that are done aimlessly will not take you anywhere. You will only stagnate in the same position and state for a long time. Therefore, you need clear goals for saving. 

Indeed, the purpose of saving is to build a dream house, but you can make it more specific by determining the amount of funds that must be collected in a certain period of time.

Calculate the total expenses that must come out and the income earned. That way, you will know how much funds must be collected and at what time.


2. Making a Financial Plan

Often, unknowingly, you can issue funds without a clear calculation. It could also be that the expenses incurred are actually solely your wants and not your needs. If this continues to happen, it is very likely that building a dream house is just wishful thinking and an unattainable dream. Therefore, you need to take into account and determine the expenditure budget for each aspect so that expenses can be controlled.


3. Set Money Aside at The Start of Each Month

One strategy so that income does not run out immediately is to immediately set aside money at the beginning of each month. By directly setting aside the existing money, you can not use the savings funds to build a house. 


4.Make An Investment

Investing is certainly different from saving. If saving only saves money and cannot double the nominal, then investing can many times over double the nominal.It's just that we should keep in mind that investment is long-term, where the results can only be felt in the next decades. It doesn't have to start from a large nominal; every small fund that can be set aside is still very profitable. 


5. Establish a Non-Transferable Savings Account

By opening a savings account that cannot be accessed, this will prevent you from wanting to use the funds. Savings like this are usually called term savings, where you can only take the funds saved within the period set by the bank.


6. Debt Avoidance

The need for electronic devices, be it for work or home, sometimes makes us have to use credit cards. But when you are in the mood to build a house, it's a good idea to postpone the intention of buying these tools. Undoing the intention to replace old items that can still be used will speed you up in raising funds to build a house. This is also done so that you do not feel very heavy. Of course, it will be very difficult to save while paying debts, right?

 

7. Start a Frugal and Simple Lifestyle

A simple life can start by buying things that are really needed instead of things that are wanted. Often, the reason we buy things is because of discounts, promos, and sheer desires that are not necessarily useful. If the clothes and shoes are still good and can be used, it's best not to buy any more and save the money at hand for home savings.


Those are the ways and tips for saving to build a house to be successful. The seven ways above are ways you can start practicing so that your dream house can become yours.