The crisis has put a lot of pressure on Spanish families in recent years. With rent prices skyrocketing, the possibility of acquiring a home is taking on more and more shape. New, second-hand, in the center or on the outskirts, with or without a swimming pool, north or south orientation ... You already have to make those decisions. Do you need to raise a good amount of money and do not know how to do it? Well keep reading Housell!
To be able to face a mortgage , you must ensure an economic cushion and stay with margin to face possible unforeseen events. If, on the other hand, you want to pay it in cash, the necessary amount rises significantly and you will have to undertake a greater effort, since the expenses of buying a house can be many. During the transition process, rent is not a bad option for you.
Tips to have more liquidity
Allocate a fixed percentage of your salary to savings: if you manage to make it 20%, you will achieve a good performance in the medium term. If out of every 2,000 euros you can save 400, after two years you will already have a remainder of 9,600 euros. It's already a peak!
Open a private bank account and do not touch it: a very important step to ensure the fulfillment of this objective is to 'isolate' this money. Following the previous example, make a deposit of 400 euros at the beginning of each month and let it be. If you can also ensure a minimum return on the deposit, what you earn. Only when you achieve your goal can you start dedicating that money to your new home!
Keep a meticulous control of your expenses. There are two ways to achieve this:
Manual: divide all your movements into a column of income and another of expenses and take stock each day. Collect the data and you can calculate what you spend each month. Excel has made things much easier in this regard, by optimizing the preparation of tables and graphs without too much effort. You will also find out what your fixed expenses are.
Through a mobile app or automatic program: if you don't want to worry about anything, no problem, there are many applications that do it for you, for example Fintonic. You can download it on Android or IOS, you just need to link your account and everything is automatically synchronized. You will know what you spend, how much and how you do it and you can have a healthier economy.
Avoid 'ant' expenses: today, all of society is designed for us to consume. Burgers for one euro, a coffee, the vending machines, a bag, another snack ... The problem is that the accumulation of this type of expense takes its toll on your pocket. To avoid them, you can concentrate spending. Instead of going out to dinner three days a week at a fast food restaurant, treat yourself for a day and go to a good restaurant with your friends or your partner! You will spend the same and you will have more satisfaction, since that dinner will be the reward for your austerity during the week.
Look for a good quality-price index and avoid the red numbers: this is the most difficult, you should try to extend the useful life of everything you use and not spend too much money. The second-tier market may be a good option. If this is crucial, avoiding debt is essential , both with yourself and with other individuals:
If you commit to saving 400 each month, do it! Nobody will claim you accounts for saving 300, but think that it generates a deficit.
Of course, pay all your bills up to date. Save, but don't overcondition your day-to-day life and make sure you pay your bills on time!
Finally, never spend more than you put in, even with savings! It may be that you cannot save the € 400 that we have mentioned, but in no case accumulate months with more expenses than income!
