How to Save for a Downpayment - Madison & Company Properties
Was one of your New Year’s Resolutions to purchase a new home, but you’re still worrying about how to save enough money? We’ve compiled a few apps along with other tips and tricks that will help you squirrel away your dollars and cents so you can reach your 2020 goals.
V A R O
Varo is a fee-free banking app with no monthly account service fees, no foreign transaction fees, and fee-free withdrawals at 55,000+ ATMs worldwide. Also, Varo doesn’t allow overdrafts—so no fees there either! When you open your no account fees bank account, you can also open a high yield savings account!
A C O R N S
With this micro-investing app, you simply connect your debit or credit card and every purchase you make is rounded up to the next dollar. The difference is invested in your investment account. It sounds small, but think about how many purchases you make on a daily basis. A few dollars dropping into your savings account on a daily basis can add up quickly!
I B O T T A
Ibotta is a free mobile coupon and cash-back shopping app for most iOS and Android devices. With Ibotta, shoppers have the opportunity to earn cash back on select products by performing easy tasks, purchasing the product, then providing proof of purchase. Ibotta works at restaurants, online shopping sites, and even at the bar.
F E T C H R E W A R D S
Go on your normal grocery shopping trips. Scan your receipt after. Get points towards gift cards. No digital coupons to pre-select or specific stores to go to. Scan receipts from supermarkets, neighborhood corner shops, wholesale clubs, drugstores, convenience stores, and even liquor stores. As long as your receipt has any of the thousands of participating products, you’ll earn points to redeem for gift cards.
T R U E B I L L
Managing finances can be hard. Truebill makes it easy to optimize your spending, manage subscriptions, lower your bills, and stay on top of your financial life. Truebill also organizes your historical spending and allows you to clearly see your spending so you can set a target budget with context. It’s simple but actionable money management that anyone can follow and it’s free to use!
OTHER IDEAS TO EARN CASH ON THE SIDE
start a blog and monetize it
drive for uber or lyft
use your skills to do freelance work
sell your crafty products on etsy
become a bartender at your favorite local hotspot
teach english to students online at Education First ($20/hr to start)
Once you've saved, call your favorite Madison REALTOR® and we'll begin the home search!
Madison & Company Properties is not affiliated with the above companies. Information was obtained from third party sources, which we believe to be reliable but not guaranteed for accuracy or completeness. The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. The information provided does not take into account the specific objectives, financial situation or particular needs of any specific person. Investing entails risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time. Sources: TheSmartWallet.com, The Penny Hoarder, and TheSmartWallet.com.
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