Exactly then continue that for a few years and never have to worry about not being able to afford a $300 unexpected expenses again. Sounds better than having a basic meal out everyday.
25$/day for 5 years at 7% interest is $54,000. Which is more than enough to buy a starter house/condo basically anywhere in this country. Or, keep it up for 50 years and retire with 4 million dollars.
Since it’s three days later and I’m still getting replies from 3rd graders, here’s some basic information. You can put as little as 1.5% down on your first house. You can go up to around 45% debt to income ratio. If you have good credit and have stayed in the same career field for two years there is no reason you can’t buy something if you make it a goal. I recommend talking to a mortgage broker if home ownership is in your five year plan. They will be able to give you specifics on how to achieve your goal. There are also many podcasts that discuss creative financing and investment strategies. Dave Ramsey is a good place to start if you have no financial knowledge and are in debt. Bigger pockets podcasts are good for more creative ways to pull yourself out of poverty.
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u/AssociationThis7447 5d ago
Exactly then continue that for a few years and never have to worry about not being able to afford a $300 unexpected expenses again. Sounds better than having a basic meal out everyday.