AOL.com: “The Down Payment Savings Challenge That Could Get You Into a Home Faster”
July 3, 2026, AOL — In today’s article on AOL.com, reporter Chris Adams writes, “Saving for a down payment on a house can feel almost impossible when rent may already be eating 30% to 40% of your income.”
He asked Marguerita Cheng, certified financial planner and CEO of Blue Ocean Global Wealth, about taking a different approach to savings.
“If you’re not quite ready to commit to the challenge, an easy alternative is to select an amount you can commit to saving each pay period,” says Marguerita Cheng, certified financial planner and CEO of Blue Ocean Global Wealth.
“I have helped clients build significant wealth with this strategy,” she said. “For example, I asked my clients when they were ages 30 and 32 with student loans and credit card debt, after we worked on their income and expenses, if they felt comfortable setting aside $50 every time someone was paid.”
She noted that once they paid off their credit card debt, they increased their savings to $200 per pay period. They also earmarked half of their tax refund for their down payment.