🏡 Why This Matters

To get started with our Rent To Own program, tenant buyers need to provide a deposit of at least $10,000. They will get this deposit back at the end of the program to use for their down payment.

The reason we insist on the deposit is because it proves your commitment and demonstrates that you have the discipline to save. This makes you much more likely to succeed in our program.

However, many potential tenant buyers don’t quite have $10,000 saved up yet and sometimes the number seems impossible.

So we’ve put together this guide on how you can save money and go from $0 to $10,000 savings in 10 months.

📆 10-Month Saving Strategy Overview

By breaking the total of $10,000 into 10 months of $1,000 saved each month, the goal seems a little more attainable. But this plan will require consistency.

🔑 5 Smart Rules for Hitting $10K

1. Know Your Why

You’re doing this for your family, your future, and your financial independence.
📝 Tip: Write your goal on your fridge and change the image on your phone screensaver to — “We’re saving for our home.”

Everytime you’re considering a purchase that might slow you down from hitting your goal, go look at your fridge door or look at the message on your phone and picture the home you want for your family.

2. Create a Written Budget

Track every dollar for 30 days using an app like Mint or write it in a notebook. This will make you much more aware of where your money really goes.

Split your money into categories:

• Rent
• Food
• Utilities
• Transportation
• Clothing
• Entertainment
• Communication (cellphone, internet, apps)
• Debt
• Savings
• Other

Then look at all the items in your categories and decide what to cut so you can save more money. You may have to be ruthless. Remember that it’s worth the sacrifice.

🎯 Target: Cut $200–$500 in wasteful spending right away.

3. Boost Your Income

Every little bit helps:

• Pick up an extra shift
• Offer part-time services (childcare, cleaning, delivery)
• Sell items you don’t use (FB Marketplace, Kijiji)

🎯 Goal: Find an extra $250+/month

4. Automate Your Savings

• Set up a weekly auto-transfer of $250 into a “Home Deposit Fund”
• 4 weeks x $250/week = $1,000
• Keep that account separate and don’t EVER touch it
  💡 Out of sight = out of temptation.

5. Stay Consistent — No Skipping

✔️ Never miss a deposit
✔️ Don’t “borrow” from your deposit fund
✔️ Avoid payday lenders
✔️ Keep your eye on the prize — your home

✅ 10-Step Monthly Checklist

Month 1

• Set your $10K goal date and write it in places you’ll see it
• Open a dedicated “Home Deposit” savings account
• Build a simple monthly budget
• Identify 3 areas to cut expenses
• Set up a weekly auto-transfer of $250
• Find one way to earn more income

Months 1 to 10

• Track income and spending
• Celebrate every $1,000 milestone with a small treat
• Avoid payday or instant loan providers
• Maintain a goal-focused mindset – you can do this!

🚫 What NOT to Do

• ❌ Use Cash4You or payday lenders
• ❌ Make payments late
• ❌ Ignore your budget
• ❌ Assume you can “catch up later”

I hope you will find this checklist plays a small part in helping you achieve your goal for financial stability and home ownership. Once you get to the $10,000 savings mark, get in touch and we can discuss Rent To Own options for you.

Good luck. You can do this!

David Pereira

Founder of Rent To Grow Homes

@RentToGrowHomes on Instagram