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Providence718
LIF Adolescent
Member since 7/11 820 total posts
Name:
Jennifer
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Saving for a down payment
Is there anything special you guys did to start saving?
I know a girl at work went to a financial planner. Is that necessary?
TIA
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Posted 11/4/11 7:39 PM  |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
Name:
L
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Re: Saving for a down payment
Does your bank offer a service for automatically depositing your paycheck into multiple accounts for free? If so, create an account for your new home and when you are getting paid divert some money into that account automatically.
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| Posted 11/4/11 8:00 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: Saving for a down payment
A financial planner is not necessary and I think a waste of money (especially if you are trying to SAVE money).
We lived off one paycheck and banked the other. If necessary, cut out what you do not need. We do not have smart phones or texting plans, we have basic cable, we try to only buy what we need, we belong to a no frills gym, we have no home phone, etc.) We continue to live off one paycheck even now that we have bought the house and use the extra money for home projects and vacations.
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| Posted 11/5/11 7:39 AM |
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Providence718
LIF Adolescent
Member since 7/11 820 total posts
Name:
Jennifer
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Re: Saving for a down payment
Thanks .... We said we will live off one pAycheck starting January .... We wanted to get thought the holidays first ... I may set up the account where it automatically comes out each paycheck that is a good idea ... Thanks again
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| Posted 11/5/11 7:54 AM |
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8ternity
<3
Member since 11/08 10586 total posts
Name:
Formally NYPD-Wife
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Re: Saving for a down payment
We had an online savings acct. We didn't spend a penny from the wedding $ we got, all tax return $ went into it, every paycheck $400 would go into it, birthday $, bonus', etc...it took us 2.5 years to get 15% down payment.
Message edited 11/5/2011 9:42:42 AM.
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| Posted 11/5/11 9:41 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Saving for a down payment
The best ways to save are to cut expenses and increase income. I would.find cheapest housing option, no car payments and get pt jobs and bank extra.money.
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| Posted 11/5/11 10:31 AM |
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gdubs
This baby is awesome!
Member since 11/10 2467 total posts
Name:
Gina
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Re: Saving for a down payment
Totally not necessary. We have money direct deposited into a savings account so it's like it doesn't even exist. You would be surprised how fast it grows if you leave it alone.
If you;re looking to invest, etc. then you might want to talk to someone.
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| Posted 11/5/11 11:02 AM |
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drpepper318
MIR MIR MIR!
Member since 6/07 8274 total posts
Name:
me
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Re: Saving for a down payment
Posted by CAMCaps
A financial planner is not necessary and I think a waste of money (especially if you are trying to SAVE money).
We lived off one paycheck and banked the other. If necessary, cut out what you do not need. We do not have smart phones or texting plans, we have basic cable, we try to only buy what we need, we belong to a no frills gym, we have no home phone, etc.) We continue to live off one paycheck even now that we have bought the house and use the extra money for home projects and vacations.
I agree! great advice
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| Posted 11/5/11 11:38 AM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: Saving for a down payment
We put my salary in savings (direct deposited) and did not touch it until closing. Lived off his salary (rent free in an apt in his parents house). We were very lucky to have that option. Before we started saving, we took that $ and paid off both cars and most debts.
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| Posted 11/5/11 11:55 AM |
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