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I didn't watch Dave Ramsey's advice on buying a house. I just started putting away money several years ago before my wife and I even got engaged.
I usually take about $400 for an emergency cash fund (something he recommends), as well as for a new car and home furnishings. Depending on how much I have in my checking account, I might take out more. I do need to put more into my savings account.
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I like Dave a lot, but his plans circulate around doing everything fun at age 65. I think there needs to be a little more balance.
I put 100% of my salary into my 401, usually max out in 2 months or so to the 23k mark. However! I have no mortgage and rental income.. my savings strategy would be a little extreme for some.
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I put 6% of my salary in a 401(k). My company matches 6% of my salary. I also save about $2k in cash a month for miscellaneous repairs and expenses.
I am not keyed in on paying down my mortgage for a few reasons. One, I'm likely not going to be in this house more than 10 years. Two, the house has appreciated significantly, so I would still see a good chunk of equity. Three, my interest is my only tax deduction.
Excluding his debt planning, everything else is good for staying poor, I don't save anything because I can do better in trade than trusting the banks
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