When you’re starting to save, get realistic with yourself.

If you’re downsizing your monthly outgoings, can you really part with your daily coffee? Are you going to hide that nail appointment from your other half and insist it was a home job?

Figure out what’s important to you and what you can really save and try to apply some of these tips.

1. Make it your own

It’s a tiny thing but it can really give you a little boost… personalise your account. It’ll be more heartening to see money going out every month to DREAM HOME FUND than some faceless second account.

2. Get SMART

Ever heard of SMART goals? They’re the best way to ensure you stay on track with plans.

Specific – pick a figure you’re working towards.
Measurable – set up that separate account so you can see where you’re at.
Achievable – is this going to work for your lifestyle?
Relevant – is this the best time to buy for you?
Timing – set a firm timeframe so you have a solid goal to work towards.

3. Buddy up

As they say, teamwork makes the dream work. If you have a mate who is in the same boat, you can do cheap nights in, moan about the struggle of saving and encourage one another not to cheat on that sacred DREAM HOME FUND…

 4. Get on top of the paperwork

If you’re applying for a mortgage, you’ll be no stranger to the reams of paper work and special folders you’ll need by your side! Harness this renewed appreciation for life admin by looking into reclaiming tax and complete your MED1 form for medical expenses annually. You never know what you may be entitled to.

5. Leave them at home

Debit and credit cards can sometimes act as a safety valve when we exceed our monthly budget for spending. By taking out your allotted cash at the start of the week and carrying this with you for expenses, you’ll be more likely to stick to your budgets. Leave the cards at home… especially on occasions where there’ll no doubt be temptation to overspend, such as on nights out. 

For more information, head over to our  Mortgage section.

Lending criteria, terms and conditions apply. Security and Insurance required. permanent tsb p.l.c is regulated by the Central Bank of Ireland.

Lending criteria, terms and conditions apply. Security and Insurance required. permanent tsb p.l.c is regulated by the Central Bank of Ireland.

The content of this blog does not constitute advice and is for general information purposes only. Readers should always seek professional advice before relying on anything stated in the blog. Some of the links above bring you to external websites. Your use of an external website is subject to the terms of that site.