Budget: Saving Up for Down Payment Dave Ramsey Style - Printable Pdf
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- Опубліковано 25 сер 2024
- The downloadable pdf goo.gl/9p7BCM
I'm back with a budget update video after a long and lovely summer. This time I will cover our budget from July to September and look at how Morten and I have made and tried to stick to the budget throughout the months. July and August came with a lot of extra expenses as we went on vacation, celebrated birthdays, and bought a trampoline. But in the end of the autumn we manage to stay on budget which I'm really proud of. And on top of that I finally get to color some bricks on my savings plan. If you want to see what that it all about then check out the video ;)
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I was lucky to be able to put about 25% down on my house but that is because I live in a fairly inexpensive housing market. Also, I opted for a much less expensive home than the lenders recommended for my income. As a result, I was able to pay it off in 12 years. Congratulations on saving so much for your down payment already. You are knocking this out quickly.
Thaaank you, our goal was double, but we will get there I'm very grateful:) How fantastic you were able to put down 25% hat's off to you and for almost having it totally payed of, you rock:)
@@Godownsize Thank you. It was some sacrifices but a lot of luck and blessings. 😊
I live in Vancouver, and housing prices are crazy here. Apartment worth looking at starts from 600k, and the house is 1 mil and more (in canadian dollars). So we are renting, and will continue to do so for a foreseeable future.
Maria, I bought my home in 1998...In the US, we have an option to get an FHA loan...we were able to put a down payment of 3%. I have paid off my home (in 11/2016) and it's the best feeling ever. Love the printable... You ROCK!!!
You rock, having a payed for house.. awesome:) In Denmark we have to put at least 5% down by law, they just changed it last year to try and calm the housing market and avoid another bubble like in 2008.. prices here are still just goin up up up and it seem like they go up pr year what we can save up in a year so we have to beat a crazy curb, we will figure it out, just glad we are not in a rush about this hole thing:)
Oh trampolines are great for kids! We also bought one this summer for our two little boys!
Excellent budget. 10 per cent down and paid it off as quickly as possible.
Love your budget videos! We bought our 2 bedroom house in 2012. The purchase price was $325,000 New Zealand dollars. We paid a deposit of $115,000 and got a bank loan for the rest. I saved a lot for the deposit when I was working till beginning of 2011 when stopped working to study and have a baby. We have been paying off the home loan on one income ever since. We have around $90,000 left to go. Now we have two children in our small 70sqm house. I declutter a lot and try to be as minimalist as possible to save money and not have too many possessions filling up the house. My dream is to pay off the remainder of the loan by the time I am 40 in 4 years time, but that is not likely as we really do need to renovate to add an extra bedroom as my daughter and son cannot share a bedroom forever. The value of our house has increased over $200,000 in the last 6 years so in theory we already have even more equity in our house.
Thank you for sharing, It's so nice to hear from others how you've gone about it. So you will be completely done in maybe 4-6 years thats awesome.. do you have any plans on how to celebrate?
@@Godownsize to celebrate I actually really want to take my children to Legoland in Billund. Which is 48 hours of travel away and quite expensive for us. By lowering our debt obligations we should be able to afford to do that and have a really fun family holiday. I have been watching your Danish travel videos and are quite inspired to visit some of those places when we come over too.
You can have money rollover each month in every dollar!!! You click on each category and then click "make this a fund" on the right side of the screen. A little piggy bank will show up next to the category name and you'll know it worked and it will roll over. Then you will be good moving forward! I wanted to add some balances to a few categories. For example, I had $40 in kids clothing from the previous month. So I added $40 to the income and I added $40 extra dollars to the kids clothing that month. It was a pain to manually get all the categories current but you only have to do one time 🙌
I bought my first house when I was 21-22. I just did a ton of overtime. Buying my second house and increasing the down payment I did the same - tons of overtime - to the point where for the entire year I only had 14 days off - all paid vacation. The sacrifice was worth it even if with the time lost doing frivolous stuff. This is something you can do when you are young and still party and exercise regardless. When you are young money matters. When older time matters. I also paid mostly cash for everything during that time, no loans beyond the mortgage and very little credit card use. I still live by that model today. Good video.
thank you for sharing:) I hope to do another budget video soon.. also including our thoughts on buying our first home within the near future:)
We didn’t travel.
Mint averages expenses categorically. ;) One thing I wish I could do in Mint is start planning next month's budget before the 1st of each month. Does Every Dollar give you that capability?
I've followed Ramsey's plan a little too faithfully to where I allowed my credit history to disappear, and my mortgage interest rate is .5% higher as a result. Although, I was able to save a 20% down payment on a 30-year fixed and rounded up my monthly payment to the next $100 to pay more principal. I plan to be more aggressive with paying down the mortgage once I've replaced my car. Saving up for the downpayment to avoid PMI was worth the grind, but I wish I hadn't let my credit history zero out until after I had my mortgage. Keep up the good work!
yep in Everydollar you can plan ahead which is really convenient:) Sorry about your creditscore, I heard him talk about once, maybe in his book, how you have to do 1-2 years after you pay off your debt before taking out a morgage, then you have a 0 score or something.. We don't do creditscores in Denmark like that. They look at your history with money and how little debt you have and base it off that, but we also don't really do creditcards through other companies than maybe mastercard.. your creditcard normally goes though your bank to you normal account. A very different system:)
Thanks for sharing! Where I live, the homes run for about $800k (lowest) but on average 1 million USD so I really appreciate these videos!
autch that's a lot:)
amazing you doing good for expensive country like Denmark. iam looking for more video about Denmark in winter
Thanks:)
I am thinking about living in a small place in the future. I do want to enjoy life. God Willing things will be okay. Thank you for this video, Maria. Enjoy your day.
Thanks you, you too:)
Thank-you for sharing your budget. Hearing about the successes and challenges is inspiring. Could you share how your capsule wardrobe for yourself and Max has evolved.
We started DR program in March ann already in May we were on the same page money vise. This is first time ever in our 17 years of marriage.
that's amazing, feels so good to work towards the same goal, I'm with you on that one. How did you learn about DR?
I was a part of a group on Facebook about money. Someone shared about a DR group and than I started checking him out. I've been listening to his UA-cam channel since late February. I've been following allot of UA-camrs who follow DR program. Our plan is to be debt free November 2021 and have EF in November 2022 and have a down payment for a house in November 2023.
Happy I found your channel, but sad you stopped posting! I hope you were able to get your home!
I'm back, so will be posting again. Need a break and to refocus:)
CASH three times . My first house was $9.500 . Second one was $10.000 and the house I'm in now I got 4yr. ago for $4.000 . Yes they were all fixer uppers but all livable while I worked on them . I live in the USA .
Well done!!!! :) you're lucky to get houses at that price:)
Oh i would be very interested in max minimal winter wardrobe!😃😃😃
that could be an idea:) thanks:)
Where are you? Miss your posts!
I'm back now:) Just uploaded my first video in forever.. hope you like the new direction of the future videos. Thanks for commenting:)
From Dubai, I am curious to know the currency you use in budgeting videos are USD, EURO or DKK? As you mentioned 300,000, it would be helpful to know what exactly price is like in danish housing market. In addition, is it true danish income tax is 60 percent ?
If you don't mind me asking, how much is each brick worth on your savings chart?
I think I'll keep that private:)