Six Months, Twelve Hundred Thousand Dollar, Fifteen Percent discussed on Dave Ramsey


Your baby steps, and as you said, we're gonna start saving for kids college. We're going to be saving fifteen percent of our income any excess money we get above those two things as baby step six. We throw it at the house and start getting the house paid off as quickly as possible. What are you paying for the house? Well, we actually care. I got a really good deal. Houses three hundred and twenty five thousand we actually bought a twelve hundred thousand dollar profit. From the economy, increasing home value that was under contract right now too. So you're paying three twenty five and you're selling yours and your clearing one hundred on years to put down, and you got twenty five more that we're talking about you're gonna put down, okay? And the emergency funds for six months still have that. Yeah. Dr even if we put the twenty-five, downright. That's where I didn't know since I was it was a no brainer to put it down. But I was going to be independently employed in the beginning, I know it until you got a six month emergency fund, and you're not you're not gonna start real estate full-time until you've got something in the hopper. Right. Exactly. Not to. I know that I did. It's gonna work for me. I'm I'm me. I'm active active license right now. Right. Just started a couple of weeks ago. Yeah. You get you get you get some listings and some sales in the pipeline. And you'll know you're going to be able to eat, you know, this is all gonna work out. Then you're going to be safe. And but six months is plenty you should pull this often. You're doing this in a very wise methodical way, you you're systems person. I can tell about talking to you. And that's a good thing. It means you're you're not being impulsive with this. Yeah. Yeah. I I would put the other twenty-five down which again makes it easier for you to go ahead and take that leap and do that fifteen year fixed, which is the only way I would do it would never buy a house on more than fifteen years. I wouldn't buy house less you pay cash for because I don't borrow money. But I would never even recommend that you buy anything unless it's a.

Coming up next