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'I do actually work': This 21-year-old TikTok star was harassed to tears after buying a house with no mortgage - here are 3 ways to save for a home if you're not a millionaire influencer

MoneyWise logo: MainLogo MoneyWise 18.06.2023 14:24:02 Moneywise
How to boost your chances of buying a home

Disclaimer: We adhere to strict standards of editorial integrity to help you make decisions with confidence. All links marked with an asterisk ( * ) are paid links.

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Katylee Bailey recently celebrated purchasing her first home outright at the age of 21 - popping a confetti cannon shaped like a champagne bottle in a TikTok video that has since garnered over 4.4 million views.

"Mortgage free and a [homeowner] at 21 baby!!!" reads the caption.

Some viewers, however, criticized the British social media influencer, calling her celebration insensitive to those who don't have the means to afford housing.

"Meanwhile everyone else has real jobs and struggle to make ends meet," one commenter wrote.

Bailey later posted another video with a tearful apology.

"I'm sorry to anyone who feels like I'm bragging about the house thing," she said. "I do actually work, and let me tell you something, social media is so mentally draining."

High prices and soaring mortgage rates have made it difficult for many would-be buyers to purchase a home, but it's not impossible. For those who are on the more traditional 9-to-5 grind and aren't lucky enough to earn as much as influencers like Bailey, there are other ways to work toward homeownership.

It's likely you're paying more than you need to for some of your routine expenses. By cutting down on the cost of necessities - like auto insurance - you'll have more cash to put away for future home ownership

With Pretected* you can compare pricing from multiple auto insurance providers to find the lowest rate in your area. All you have to do is answer a few quick questions about yourself and your car and you'll get matched to insurance policies that fit your needs.*

Pretected makes it easy to find the best rate across multiple companies, saving you the virtual legwork and potentially hundreds of dollars a year.

Setting aside some cash each month is always a good idea, but growing your savings quickly is the key to big-ticket purchases like a home. Consider optimizing your savings for bigger returns by choosing an account that offers you more for your money.

SaveBetter's online marketplace* makes it easy to unlock the potential in your cash savings through a variety of high-yield savings products from a nationwide network of banks and credit unions.

SaveBetter compiles the best savings rates available so you can choose the option that will grow your savings to the fullest.*

You don't have to feel stuck with your current bank, because SaveBetter conveniently helps you explore the vast options available to you - regardless of your TikTok follower count.

While taking your phone out to record a lip sync montage or tell a quirky story to share on the internet may not be your lucrative venture of choice, there are other low-stakes opportunities to make some extra cash outside of your day job.

With Survey Junkie* you can earn quick cash by taking surveys about the products you use and places you go. By simply sharing your opinions, you'll earn points that can be redeemed for gift cards or Paypal payouts*.

Swagbucks* is another online program that will earn you similar rewards for things like browsing the web, watching videos, playing games and shopping at your favorite retailers.

These are things you probably would've wound up doing anyways, so you might as well earn some extra cash while you do it* and stash that cash away in your home-buying fund.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

dimanche 18 juin 2023 17:24:02 Categories: MoneyWise: MainLogo

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