Be smart and save for the dream home
Millennial and money are two parallel routes that never meet.
A major factor
According to a LinkedIn study, change in jobs thrice in the first five years after college is very common among millennial. This puts them in a financial crunches many times. One of the key factors that bore holes in millennial’s pockets is their standard of living. If they stay in houses where they are required to shell a large sum on rent every month, then saving for a dream home is next to impossible.
Many options to save a sufficient amount are provided by business insiders’ financial planner, Lauren Lyons Cole. Let’s see what they are.
- One of the possibilities is sacrificing your job and relocating to another city to save the additional expenses you make on the cost of living. But relocating is also not always easy as you have to have a job that suits your interests and allows you to save a sufficient amount as well.
- Figuring out which amenities you can have and which you can live without is also one way of saving money.
- Listing the essentials you want will make your house search easier. If you start searching According to the list, you might even find the perfect house in your budget.
- Living on rent and saving for a down payment is the most feasible option for millennial right now. This step will make them financially ready to own a house that suits their requirements in the near future.