TBT: How I Saved for My Down Payment
I was profiled in The Home Story on how I was able to save for my first home without completely giving up my lifestyle.
In the early days of determining my homebuying prospects, like many first-time homebuyers these days, saving for the down payment seemed like the biggest obstacle.
We all recognize that we need to make sacrifices to meet any goals in life. But no one really wants to give up an entire lifestyle for any financial goal. It is depressing just thinking about it.
Still, I sought the advice of my family and reviewed my monthly income and expenses. With some savvy counsel from my grandfather, I aggressively paid off my credit cards and refocused my income on bigger things. I didn’t completely give up dinners out with friends or summer concerts; I simply focused on short-term goals while setting aside funds for “my lifestyle.”
From The Home Story: