How to save money and buy a house?

In the US, we can purchase bonds from the Federal Government that double in value within 5-6 1/2 years, depending on the interest rate. For example, if I buy a $50.00 bond, I spend $25.00 on it and when it matures the value is $50.00 I wonder if there is anything like that available in your country?

You need to save a portion of your salary every month into mutual fund. When you have saved enough for the deposit of the house that you intent to buy, you can start booking it. The remaining of the loan of the house, you can get through financial institution. The more deposit you can put down when purchasing the house, the less amount you will need to get loan from bank. So, even if the rate is terrible, you still able to survive. My country recently have a low cost housing scheme, to help those low income earners to have their own house. Please survey whether your country have this kind of scheme to help the low income earners.

Hello, kami. Buying a house should be seen as a long time investment. Let's say you want to save your money. There are basic questions you must answer first: 1. For how long can you save the money? (how much time do you have before HAVING to buy the house?) 2. How much are you willing to save, thinking on a monthly basis? 3. What is your goal? (how much does the house costs?) You don't have to answer those. But after thinking about it, write down in a paper. Everything will rely on how much time you have to buy the house. If you have 20 years to buy the house, I tell you can get there without huge losses in your finances. If you can invest, every month, U$200/month to a savings account, that will generate you something like 0,6% per month. In 20 years, you will have U$113,799.00. Not enough to buy the house? Certainly enough to pay for a huge part of it. If you had only ten years, you'd need to invest U$600/month. Now, we know that the savings account is the slowest way to invest your money, but the safer. There are different ways to invest, the most famous and fastest one is the stock market. But since you don't want to run risks with your money, I suggest you go to your bank and talk to your manager about buying national treasury. Saving the money is an act of discipline. You must be determined. Do the maths. Divide the amount you earn into two subgroups: the amount you will save per month and the amount you will have to spend. Then go through the amount to spend, and divide it into the basic needs, like food, rent, bills, etc. It is not simple, but it is possible to cut items that are not a real need at your house. Just sit with your family and figure it out, I'm sure you will do fine. Respectfully, Munhozmib.

I am saving for a house as well at the moment, however I am living with my parents rent free at the moment (they won't take money from me, I have offered) so it is a lot easier for me to save up than it would be for you to do the same thing. I have two years before my partner and I wish to be in our house, so I suppose I am a little bit more relaxed about it than I perhaps should be at this stage. I am currently using the internet as my sole income, and this means that I am constantly looking for new ways to make some more money, as well as writing articles for a few companies at the same time. When I started saving, I did a huge audit of my spending and saving habits and found exactly where I could (and couldn't) afford to cut back. Once I had done this, I found that things were a lot better and I am able to save ~$200 per month now towards my house, which will be a great help when I come to buy it in the near future.

There is no real good recommendation for this. With today's job market and the high expenses of living it is getting harder and harder for younger people to purchase a home. The only thing I can recommend is save as much money as you can, live as frugally as you can and if it is possible work as often as you can. I no longer work outside of the home but I do as much as I can to earn money online and I also babysit my little cousin when it is needed. My Fiance works full time at one job and gets in as much overtime as he can when it is needed at his job. We do not have satellite or cable tv, all of our vehicles are paid for with liability insurance only and we don't go out, if we do splurge to go out to eat it is from the $1 menu at McDonalds or Burger King or if I win a gift card from a restaurant from my online earnings we use that. It is hard to live this way but we do it. Good luck with your situation.

Hi iamkami, you save the money, by paying some chits monthly, it will double you money. here the risk is you have to choose the good group of people and pay the chits am doing the same you can also follow the same. after a year or couple of years, you have saved some amount by using this buy a house/plot and follw the same. this i feed it will work well in India. others country i don't have any idea. this is my suggestion from my point of view. please utlize it if it is matches you.

I suggest saving money up and putting it in a high interest account. In a few years time hopefully you will be able to have enough money for a deposit for a mortgage. Maybe by that time rates will be better. You could buy a house and take in two lodgers to help pay your mortgage. I know a couple that have three daughters. They put two bedrooms in their loft and let them ton two Korean students. Another idea is to move to a cheaper area. If accommodation is pricey in the city a rural area. A different idea is to buy a very small property, improve it and then sell it to get lots of money. Saving money will help you in five years time when it adds up to a lot. Good luck.

I think that one of the best methods of saving money is putting money away every month, and let it sit there. There are also some high interest bank accounts. My husband and I have one and we earn interest on every dollar we put in at the end of the month. So, it could certainly be worth looking into, and it might help you save more money, as you would be putting money into the back account, and receive interest on what you are putting in. That's what I would suggest.

I thought I would look into it for you. I would suggest an high interest savings account. When I searched for it in your country, I found ANZ. I am not clear on the interest rates, but I am sure if you ask them, they can help you. Here is the website address if it helps you with savings. http://www.anz.com/vietnam/en/Personal/Saving-Investing/ good luck with saving for a house. It will not be easy but hopefully you will be rewarded with a wonderful investment for your family and your family's future.

I will say that there are a lot of people that are renting a house, including people that rent from the local council, that are paying a lot of money each month.We are buying our house and i will say that it is the case at the moment that our mortgage is cheaper than renting.Mind you we have had a mortgage for over 15 years now, i will say that at one stage rent was a lot cheaper.I think that with all the interest rates that keep going up no matter what you are paying a month, some times it can be a real struggle.

In principle, save money in the bank more money safty and we can help others (the bank makes loans to people who need)

if you really want to buy a house the best thing to do is get a mortgage, mortgages are like a loan for buying houses have a look around for the lowest interest rate,

we must save to accumulate money we have, for we have long wanted, we bought our purchase, we will not lightly to have cost more money left, we choose the cheap and buy cheaper than us we can raise money, we save money to buy us out we'd buy. we work for money we have bought more, we want to buy and for more money we have paid our rent, we collected the salaries we have money for expenses. For we do not run out of money, and not to difficult.