Our down payment
Hello Everyone!
The purpose of this blog is to answer a frequently asked question: how could we save 40K in under three years? Honestly, there isn't a straight answer for this, it was a combination of things. I set the goal of wanting to purchase a home for myself. I created a vision board and started a “house fund.” I set up a savings account at my local credit union and had money automatically withdrawn every paycheck. I will admit that the first year I did this, I did not put as much as I could in the house fund. That is probably because my partner wasn't fully committed to the idea of homeowning and we still wanted to live the life we were used to, which was eating out a lot and vacationing.
Once we both fully committed to the goal everything changed. We started saving double what we were saving before, while only making small changes in our lifestyle. We used one of our salaries for bills and the other we saved and got automatically deposited into our house fund. We both worked multiple jobs, we hustled and worked hard. I was constantly reminding us of our goal, of buying a home and starting a family. Any decision we made was made around our goal. Yes, we probably could have saved a little more but we also took a couple of trips during those few years. Finding a balance the balance between achieving goals while still living your lives is important. I am a true believer that once you set your mind to something anything is possible. Before we knew it was had a little over 40K in savings. Then the real fun started, we finally started to look at houses! Stay tuned to hear about our home-buying journey.
Tips For Saving Money For a Down Payment
Set up a house fund
Have money automatically deposited into your house fund account from your paycheck
Constantly remind yourself and your partner of your goal
