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With inflation at a 40-year high and worries of an upcoming recession, you may feel like your dream of owning a home is impossible to achieve. But, with a solid savings strategy, you too can be on your way to becoming a homeowner.

Follow along to learn 10 everyday tips to help you save money, and get one step closer to buying the house of your dreams.

10 Tips to Help You Save For a House

The average mortgage payment in America ranges from $1,140 to $1,646 per month. For many, this can be difficult to afford. But, don’t fret, as following these money-saving tips can help you set aside the money you need to buy a house.

1. Keep Track of Your Spending

When setting a financial goal, it is essential to be aware of the amount of money you’re already spending. By assessing your current spending habits, you can figure out what areas you can cut back on, leaving more money to set aside for your home.

2. Set Up Automatic Savings

Many banking and payroll services have features that allow you to set up automatic contributions to your savings account. Enabling these features is a great way to know you're saving money without transferring the funds yourself. In addition, by saving the money before you have a chance to spend it, you can be sure you never go over budget.

3. Cancel Unnecessary Subscriptions

With so many subscription services available, it's easy to sign up for things and forget. While a monthly charge of $10 may not seem like much on its own, over time, these subscriptions can eat up a significant amount of your savings. To avoid this, go through your billing statements and cancel any unwanted subscriptions.

4. Buy Generic Products

Aside from the price, many generic products are indistinguishable from their brand-name counterparts. By sticking to the generic version, you can significantly reduce your grocery bill, leaving you more money to put towards your dream home.

5. Make Your Own Coffee

If coffee is an essential part of your daily routine, you may consider purchasing the equipment to make it at home. Over time, you’ll spend far less than you would if you continue to buy a $5 latte every day. Plus, you may find that you enjoy the convenience of having your favorite coffee drinks at home.

6. Sell Unused Items

There is no better time to sell older unused items than when looking to buy a house. Not only will this help you get some extra cash, but it will also make your moving process far less stressful. You can find buyers by listing your items online or having a yard sale.

7. Shop With Cash

If you struggle to stick to a budget, you may benefit from an all-cash allowance. With a debit or credit card, it can be easy to overspend without realizing it. When you shop with cash, you can easily visualize how much you’re spending and only withdraw the amount you’re willing to spend.

8. Pack Your Lunch

Another excellent money-saving habit is to pack your lunch every day. This can help you cut the high costs of eating out or using delivery services.  By relying on groceries and homemade meals instead, you can significantly reduce your monthly food bill. 

9. Switch Your Cell Phone Plan

While it may be hard to live life without having to pay for a cell phone, there are ways you can lessen the cost of your monthly bill. Many cellular providers offer special deals for new customers. If you’ve been with your provider for a while, consider switching to a new service to save some extra money.

10. Try Carpooling

Gas prices have never been higher, making this the perfect time to try ways to save money on gas. In addition to the high cost of gas, driving can lead to wear and tear on your vehicle, leading to costly repairs. To help lessen this financial burden, try carpooling with your friends and family whenever possible.

Now that you know unique ways you can save money, you’re one step closer to buying a home. In the meantime, you can use this savings calculator by Mint to discover how quickly your savings can add up while you house-hunt for the home of your dreams.