Some of the most useful information I’ve ever seen on how to save for a house down payment can be found on a food website.
A young woman writes about how when she and her partner were renting, they didn’t worry much about how much they spent on groceries and eating/drinking at bars and restaurants. After deciding to save for a house, they realized they’d have to cut back on their food-related spending. How they did it makes for interesting reading if you want to save aggressively for something, but are having trouble finding the money to do it.
Having identified food spending as a cash drain, the author of this article found six ways to change her spending habits. She didn’t cut back so much as she substituted lower-cost options. She made breakfast every morning instead of buying it on the way to work. She invested in some coffee gear so she could spend less at cafes, and had friends over for dinner instead of going to restaurants.
What I like about this advice is that it shows how to reconfigure your life to spend less while still keeping things interesting. You might not maximize savings this way, but you’re more likely to stick with the plan.