The Times did a great story this weekend regarding people who saved in order to buy their first homes.
save verb, saved, savÂ·ing, noun / verb (used with object)
1. to rescue from danger or possible harm, injury, or loss: to save someone from drowning.
2. to keep safe, intact, or unhurt; safeguard; preserve: God save the king.
3. to keep from being lost: to save the game.
4. to avoid the spending, consumption, or waste of: to save fuel.
5. to keep, as for reuse: to save leftovers for tomorrow’s dinner.
6. to set aside, reserve, or lay by: to save money.
Instead of being fortunate enough to have trust funds or getting married and depending on dowries, these people put aside a little money every week, until they had enough to put down on the purchase of their first home.
I know, scandalous, huh?
Truthfully, I’m sure a lot of people still do this.
I admire them.
In my case, I needed to wait until I received my inheritance** before I could buy. I just wasn’t good about saving, and, really, buying wasn’t a big goal of my life (this was before I got into real estate).
If you need a bit of a pat on the back because you’ve been saving for years in order to buy, or want to see how others were able to do it, even in these times of extraordinary housing costs, read on.
More: Every Penny Counts – By Christine Haughney, The New York Times
( ** Although it was a significant amount of money, using the word “inheritance” implies a multi-million dollar gift. It was in the five figures, actually. Now you know everything about me.)
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