It's easy. Well, it should be. A lot of factors come into play when discussing how to save money. Things like annual income and expenses determine how much you can save and have quickly. But, with a little budgeting, you should be able to hit your target. Here's a few ways on how to save more cash toward your vehicle down payment. Because the more you have up front, the less you'll have to pay each month. And that, in itself, is well worth the savings.
Cut Down on Extra Spending
We may have lost you with that headline. Because who wants to give up Taco Tuesday in Saginaw, MI, right? But that $20-$30 you spend on takeout each week will slowly eat a hole in your savings. We won't tell you what to eat or how to shop, but if you can pocket an extra $30 a week, it will add up quickly.
Find a Side Hustle
There's plenty of ways to bring in extra cash in your downtime. And you don't have to pick up a part-time job. A quick Google search will reveal side hustles that allow you to set your work schedule. Work when you want, and get extra money when you want. Check sites like Freelancer, Upwork, or use your vehicle (if applicable) as a rideshare service.
Lump Sums to the Side
It's always good to get a bonus from your job in Bay City, MI. But there's two ways this can go. You can see it as "extra cash" and spend it frivolously on momentary needs. OR, you can put most or all of it into your savings. Bonus income, tax returns, birthday money—anything you'd see as "extra" would fit perfectly into your savings.
Budgeting
So, if you don't have any lump sums coming in, budgeting will be your best friend. You have to buckle down and iron out your expenses. See how much you have coming in each month and how much you have going out. Count it all up. Groceries, gas, bills—and from there, you'll see how much you can save. But here's the part where most people fail. They don't stick to their guns. When you set a budget, keep it.
Burt Watson Auto Group
When you put money into savings, pretend it's not even there. Pretend the money doesn't exist. If you have to play mind games like then, then by all means, have at it. Whatever you have to do to stick to your set budget, do it. Because soon, you'll have more than enough for a down payment and to finance your new vehicle. And when you're ready, you can get pre-approved online and browse our new vehicle inventory in Freeland, MI. You're so close to owning a new car. Keep pushing. We'll see you soon.
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