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Did you ever have one of those childhood holidays where you were hoping for one gift more than anything else? Maybe it was a bicycle, a gaming console, or a toy you'd become so excited about that all other gifts and holiday traditions faded into the background. Your joy while unwrapping that gift? Unforgettable. Saving for a house over the holiday season is not unlike that childhood anticipation.
There are so many little ways you can put money aside into your future home fund. In fact, it's the perfect way to stop yourself from the usual accidental overspending that comes from that holiday season euphoria. This year, consider a few easy, financially wise, and emotionally rewarding ways to save for your down payment over the holidays.
Decorate with Keepsake and Handmade Family Ornaments
Skip buying new ornaments and decorations this year. Instead, celebrate your family history with ornaments from years' past. Put a special focus on those heirloom and keepsake ornaments that relatives made by hand or that have been in the family for years, maybe even decades. Unwrap some of those beautiful historic glass baubles. Use an heirloom tree-topper. Hang ornaments made by your children (or even you as a child) instead of new pieces. Replace a few bulbs on last year's light string instead of buying a new one. You might be surprised how much you save on a heart-warming holiday of family history.
Give Your Loved Ones Personal, Meaningful Gifts
Gifts don't have to be expensive or large to convey the power of your love for each relative and close friend. This year, pour your heart into meaningful yet small gifts for each person you love. You can select a gift that shows your personal understanding of the values or needs of each loved one, like a set of cool silicone baking supplies for a sister who has recently discovered a love of baking, an organic loofah for a cousin struggling with sensitive skin, or an interesting set of seed packets for an uncle who loves to garden. Or you can hand-make gifts if you are artistic or crafty, with a personalized design for each person you love representing your knowledge of their favorite things and your relationship.
Make Smart Plans for Delicious Leftovers
We often go overboard on food and feast preparations for the holidays. We love seeing a table overflowing with food and love, but we don't love the expense or food waste from leftovers. You can shop smart, planning for more accurate portions and number of dishes to keep your initial costs lower. You can also load up the feast table, then make smart plans for the leftovers.
Make plans to portion, freeze, and re-use those feast leftovers as casseroles, sandwiches, lunches, and desserts for weeks (maybe months) after the holidays are over. You can save both coming and going when you buy fewer groceries with each turkey casserole you bake.
Ask Loved Ones to Gift Money or Housewarming Presents
Let your loved ones know that dreaming of your home buying has replaced your desire for nearly everything else. Many relatives will gladly delight in your delight when your gift is a check directly to the down payment fund. For those who really want to give a gift they can wrap, ask to help you celebrate your home-buying plans with housewarming items for the new house.
Let your loved ones become a part of your down payment savings and celebration of soon-to-be homeownership.
Every Time You Don't Splurge, Add to Your House Fund
Finally, reward yourself every time you don't splurge at the store or when shopping online. That $6 bag of candy you didn't impulse-buy? That $60 light-up reindeer for the yard you walked past in the store? If you would really have considered buying and decided not to, deposit the money you would have spent directly into your down payment savings fund. You get to see that number get closer and closer to your goal every time you choose not to splurge. Not impulse-shopping over the holidays will never have felt so good.
Here at First Savings Mortgage, we know the holidays are a time of joy. When you're dreaming of owning a house, the home itself becomes the ultimate gift you long for, the gift you will give yourself with smart savings and thoughtful holiday celebrations this year. Without sacrificing a single ounce of joy, you can transform holiday expenses into that all-important down payment savings goal. When your savings are complete and you're ready to make your next move toward homeownership, contact us to discuss your home buying goals with one of our expert loan officers . We'll be here for your mortgage lending needs every season, ready to help you become the homeowner you've been longing to be.