From: jacobsen@cc.swarthmore.edu (Robin Jacobsen)
Subject: Re: middle class/affording a house
Followup-To: misc.consumers
Organization: Swarthmore College
Distribution: na
Date: Mon, 27 Jul 1992 11:47:06 GMT

In article <1200@stake.DaytonOH.NCR.COM>, emolinar@stake.DaytonOH.NCR.COM
(Elizabeth Molinaro) wrote:
> 
>

I agree w/ Elizabeth

Nothing comes easy and what you want you have to work for (unless you have
a rich family).  My husband and I both worked our way thru college.  When
we were married we lived in a 1 bedroom apartment for 4 years while we
saved to buy a house.  We had one car and I took two trains to get to work.
 It took a long time but we were able to buy a house and have two kids. 
Yes, we put in long days and worked hard but we have pride in knowing that
we worked for the things we have and never asked anyone for help.  We also
feel that we were lucky to be able to it.  Most people in the world work
just as hard (and harder) and have very little to show for it.

Robin  

We still watch how we spend money and save.    
>         What has amazed me about this conversation is that (aside from what I
> will say) only ONE person has advocated a little bit of buying/spending
> restraint in order to save to buy a house.
>         In the spirit of helping out that one true believer ; ), I would like
> to offer a couple of tips that have served me well, for all my 30 years:
> (with house, 2 cars, 2 cats, no bills.)
> 
>         1.  Get those credit card bills down to $0.00
>                 The corrolary to this:  pay off your
>                 cars, etc.  Get all bills to $0.00.
>                 Once you quit paying XX% interest, 
>                 you'll be amazed at how much you "save"
>                 
>         1.5 TRY to exist on a cash only basis from hereafter,
>             and use those credit cards only for purchases that
>             you can pay off in a month -- and only because you
>             want to make some interest on your cash accounts in
>             the meantime.
> 
>         2.  Save ANYTHING.  But make sure you save at least 
>             something every single week.  If it's $20.00 bucks
>             this week, then make it $200.00 when you have finally
>             paid off your credit cards.
> 
>         3.  Do not buy anything on the spur of the moment. This means
>             that you go gorcery, clothes, sundry shopping with a list,
>             every time.  No buying anything that wasn't on the list.
> 
>         4.  For everything that you managed to resist, put that money
>             into a jar.  Empty that jar into a savings/money market/
>             investment fund at least once a month.
> 
>         5.  Begin your investment fund/money market by either:
> 
>                 A. signing up for an instant withdrawal from your
>                    electronically deposited check to the bank..
>                 B. signing up for a fund that has no minimum
>                    entry fee...Janus Funds can be started with
>                    $50.00 if you go the electronic route and
>                    deposit at least $50.00 every month thereafter.
>                    (This is not advice to begin a fund with Janus,
>                     just an example.  Read your prospectii.)
> 
>         6.  And, I hate to say it, but the other guy said it right:
>             live frugally for a year or two.  Find free things to do,
>             go on cheap vacations to relatives places in the Pocanos,
>             or wherever, and make sure your families know that you
>             are in the frugal mode: you'll be amazed at the helpful ; )
>             suggestions and the extra generosity that may come your
>             way for Xmas, birthdays, etc.!  This also gets you off
>             the on-upmanship game of gift giving...
> 
>                 AND: entertain at home, with friends who you like and who
>                 are the type to bring something (subsidizing everyone else's
>                 Friday binge is not what we have in mind here.)
> 
>         7.  Life is not too short to live frugally for a year or two, in 
>             order to accomplish large goals.  And who said frugal had
>             to be boring????  Life is always what YOU make of it: money
>             is only a part of the equation, not the whole.
> 
> Elizabeth Molinaro. 
Newsgroups: misc.consumers