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Old 09-22-2007, 01:19 PM   #9
Full time employment: Posting here.
 
Join Date: Jun 2007
Posts: 954
It is tough to get ahead in the first few years but as has been pointed out, you are doing well. Hopefully the house will bounce back and you'll have some positive equity in that soon.

Also keep in mind that presumably your income will increase through the years, usually faster than your expenses go up especially with a fixed rate mortgage assuming you don't keep upgrading homes and mortgages. Any time you make more money (salary increase for us who are not self-employed), put a lot of that towards your investments. Finished paying off a car? Put the car payment amount away in savings, so when you replace that car you can put a considerable amount of cash down on it and eventually don't even need to take out car loans. And of course keep credit card debt away.

If you keep add it, in another 5-10 years you will find yourself in a lot better shape, as you have less debt, are saving more, and your home and investments appreciate. Right now you want to position yourself for this.
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