Monday, July 27, 2009

4. Real People Save Up For Houses, Not Spring Break

In college, I never saved for anything unless it involved a vacation. I mean, why? Money was for spending, so I was going out! Again!

Here I am at my real job, making a real salary, and I'm mostly spending but I am saving a little bit. And I'm thinking where me and my fellow recently-graduated friends can go on our next trip: Cancun? Miami? VEGAS! The possibilities are endless.

Oh wait. Then I had a reality check at work today. *Real* people in the *real* world don't save up for trips to Vegas or Cancun. They save up for down payments on houses and condos.

Wait, what? A house? You mean, with a mortgage? But doesn't that mean you have to stay In my world, the only people buying houses were parents! Since when do 26-year-olds buy houses?

This concept is beyond me. What if I want to move next year? or next month? Or next week?


  1. I think house-buying is saved for the "past 30" crowd personally - without a family to support, I plan on traveling all I can!!

  2. I found it easier to think of it this way... you either pay rent to a landlord or pay rent to the bank, only they call it a mortgage payment. You lose some of the flexibility but you gain from any increase in property value, and by about month 3 into the mortgage you quickly forget about the fact that it's a mortgage.

    And here's a question for a question, do you want to move next week, next month or next year? If you do, you should! Simply wanting to keep your options open is slightly different.