I think I found the Get Rich Slowly blog through the Google Reader recommendations, but regardless of how I found it, I like the way this guy thinks. My father and my father-in-law have very different philosophies on money and how to spend it, but my risk averse nature means that I tend to play conservative when it comes to spending thousands of dollars at a time.
Alison and I are saving money to buy a home. Alison shops around online and keeps an eye on prices in different neighborhoods around the valley. I rule the monthly budget with an iron fist to make sure that a few hundred dollars goes into a house savings fund every month. We’ve never bought a house before, and it’ll be awhile before we can afford it, but for anyone who finds themselves in this situation, this article at Get Rich Slowly offers some advice.
Some of my favorite tips are:
- Get pre-qualified for the mortgage and spend only 75% of that amount
- Make a list of priorities
- Buy less than you can afford