How Do I Save for a Home on a Low Income

Do you have a low-income job? Do you still wish to purchase your dream home?

In this post, you will learn how to save for a home even with a low-income job. I’d like to call your attention to the fact that even with a low-income job, you can still manage to save enough to buy a new home. There are several people who have managed to pay their mortgage by saving a good chunk of their income each month. It doesn’t matter if you are living paycheck to paycheck, all you have to do is allocate 30-40 percent of your income to this cause. Needless to say, you must also be prepared to take a hit on your lifestyle.

How Do I Save for a Home on a Low Income

1) Compromise on Your Lifestyle

The best way to save 30-40 percent of your monthly income–whether you are an employee or run a small business– is by saving as much money as possible. I understand that compromising on your lifestyle is not easy. It will most certainly make you unhappy and dissatisfied in the short term. But realize the benefits of living in your own home.

2) Shop Online

Is it cheaper to shop online or instore? I know this question is quite debatable. Ecommerce store owners on Amazon and eBay source the products directly from the manufacturers. Plus, most of them don’t even have a warehouse. The product is delivered upon a request from the buyer. There is no middle man. Hence, buying online is far cheaper than doing so in a brick and mortar store.

3) Start a Side Hustle

Before starting a side hustle, ask yourself this question, how much spare time do I have in a week? If the number is somewhat close to 8-10 hours, then running a side hustle could be a good idea to fund your dream home. A side hustle will also give you added confidence and self-esteem as you will have more money allocated for other things in life.

4) Sell Stuff That You Don’t Need

I know that selling stuff like your personal belongings or some assets won’t make up for the amount needed to purchase a home. But, if an item in your home is contributing to the monthly expenses, then it is best to get rid of it as soon as possible. For instance, there is no point in having multiple Air conditioners, television, or refrigerators in your home. Plus, it would also help to have one main fuel-efficient car for your home.

5) Keep Fuel Costs to Minimum

Another way to save some more money for monthly mortgage premiums is by walking or biking to work. According to USNews, Americans Spend $386.09 Monthly on Gasoline. Imagine saving that amount each month to pay for your home. Of course, you won’t be able to go with no vehicle at all. But even if you save half of the average monthly Gasoline cost, you will be in a lot better shape, financially.


These are the five easy ways to save for home on a low income. A lot of people in America live their lives paycheck to paycheck. For a working-class person, there is really no other option available. But this does not mean you can’t become a homeowner.

About Amey

Hey Guys! this is Amey Harper from Jacksonville, Florida, United States. Here I talk about home related things and share tips to buy a home, loan for a home, home maintenance, and other things. Read my latest blogs.
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