Tuesday, March 25, 2008

Why Are First-time Home Buyers Squandering Their Savings?

I was reading an article this evening stating that new research in the UK has revealed that 42 percent of first-time home buyers who are saving for a down payment on a mortgage are squandering it away. It makes one wonder just why people aren't staying focused on their goal. Perhaps it is because there are too many distractions in today's technological world. Many are spending their hard earned cash on the latest cool gadget. Some people just cannot resist the temptation to buy those little techy treats Another reason could be they are having to dip into their savings to compensate for the ever-rising fuel costs. It is my opinion that these are two of the biggest reasons why people are finding it more and more difficult to save money for their mortgages. Nowadays, it just takes more self-discipline to resist buying the latest new gadget or to budget money more wisely. Perhaps instead of taking a vacation this year, it will help to just stay home, save your money, and keep your eye on the prize.

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