Are you trying to save up for a down payment on a home? Regardless of where an individual lives, this is going to be one of the biggest investments anyone can make. Or perhaps you already have a mortgage and just want to put away a little bit extra every month after this financial obligation. Start by looking at the amount of money you spend on eating out every day. Looking just at lunch, the average monthly expense for eating out can have a wide range from a couple hundred bucks to over $400. Also, experts suggest not only saving up for the traditional 20 percent down payment, but also 3 percent closing costs. The latter can run you an extra $10,000 or more! Below is a great example of a monthly budget that is broken down into fixed and flexible expenses. Perhaps you can find some similar costs and want to put into action some of these tips for saving more money.
Hack My Budget: How Can I Trim $500 From My Monthly Spending? | LearnVest Featured photo credit: Harsha K R via flickr.com
