So, you’ve finally made the exciting decision to purchase a home. Aside from the many congratulations you’ve likely heard from friends and family, you’ve also probably heard your fair share of advice. There are plenty of people in your life who want to share tips on how to succeed financially as a new homeowner. And they mean well, they are trying to help you navigate the murky waters of buying a house for the first time.

Your new home has probably come with a long to-do list of repairs and updates that you can’t wait to sink your teeth into. This important time in your life comes with lots of financial pressure, so you should be smart, patient, and strategic about how you go about handling your finances in the early stages of homeownership. Here are some great tips for new homeowners to save cash in the short- and long-term stages of financial planning around their new home.

Furnishing Your New Home

Now that you finally have a home to call your own, you have the exciting opportunity to furnish it however you like. You’ve upgraded your home, so you probably want to upgrade your furniture, too. It’s easy to get carried away and lost in catalogues and showrooms, but to make sure you don’t spend money unnecessarily, you should be strategic about what you buy and from where.

If you have old furniture that you’re looking to replace, then consider selling your items to offset the purchase of new furniture. Online trading marketplaces like Kijiji are a great place to start since furniture is one of the topmost categories for exchange. Buying some furnishings second-hand is also a great way to save money with the average buyer saving $825 when they purchase used products instead of new.

Be patient with your buying decisions. It’s going to be tempting to get everything at once, but if you wait for the right things to come up at the right time and keep an eye out for sales, then your savings can go right back into your mortgage.

Increase Your Mortgage Payments

With all the costs that come with buying a new home, this exciting time in your life can be quite stressful. One of the ways to get ahead on your mortgage and set yourself up for success is to increase you mortgage payments immediately.

For instance, consider setting your payments to advanced bi-weekly as soon as you get started, that way you make one extra payment a year and end up shaving years off the amortization of your mortgage. But with all this new financial demand, it’s possible that you may come across a bump in the road that could set you back. Something like an unexpected plumbing issue in your new home can cause financial stress that, if you’re already running a tight ship with your cash flow, can be hard to handle.

Know Where to Look for Help

In these moments, a payday loan from a reliable and trustworthy payday loans direct lender can be a huge help to cover costs in-between paycheques. Short-term online payday loans are a quick way to get approved for a loan that you can access quickly. While this method of borrowing shouldn’t be part of your long-term financial planning for your new homeowner lifestyle, it can be a huge relief to know that there’s help out there for when you need it.