In an ideal world, before purchasing a home you should try to set aside at least 20% of your annual income or 25% of your monthly take-home pay, with the assumption that this is roughly how much you’ll spend on your mortgage. For the average homebuyer with an annual salary of $72,000, that means putting away $14K a year for future mortgage payments. But how in the heck? Cut out any extra spending. Before buying material things, ask yourself, “Do I want it or do I need it?” You’d be surprised how much you can save by asking such a simple question. And don’t worry, you can still get your morning matcha latte and go to dinner on Friday nights.