Save Money For A Down Payment or Build Savings?

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Title	:	Save Money For A Down Payment or Build Savings?
Lasting	:	8.58
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Views	:	21 rb

Dave Ramsey is a dork!
Comment from : @skyblazer520

Yes that certain someone whose head just popped up from the bottom of the screen (😂) gives unrealistic expectations like “buy your house in full with cash” it’s likedude what alternate reality are you living in?? I’m single and work as a secretary
Comment from : @BrianaBudgets

3:00 You know what Javier? You’re right 🤯 All anyone cares about is buying a house But once you BUY the house you’re no longer able to SAVE AS MUCH because HOUSING COSTS INCREASE!!!! Thank you for slapping me back to Earth Dam I’m a fool Ilumíname Javier 😩
Comment from : @izziestevens5835

Do not pay 20 downpayment save that money for future Pay the PMI Interest rates are low why put money in the house and lock your money in there refinance it later If ur home value appreciated you can easily remove the pmi by refinancing Thats what i did But in the end it depends on your personal situation
Comment from : @alishumaila

Some people have no idea how expensive homes get If you purchase without reserve funds, you are asking for trouble
Comment from : @egomez0110

To me, emergency fund is wasted Use credit cards or borrow on your equity How likely is an emergency going to happen?
Comment from : @Wannakatana2112

Better to have a high balance credit card for emergencies and use the cash for something more productive
Comment from : @Wannakatana2112

I was told by a mortgage broker tell me the advised that I have one year (12 months) of salary saved and down payment 20 to get a loan for a house (Northern California)
Comment from : @beth-eileenwalker8579

How much do an average family save in a month? (ie if two parents are working?
Comment from : @bravehats

One advise to young people, live with your parents! Make a deal with them, be like I pay your rent and you help me with my down payment! Life changing! Stop that bullshit of renting away, dude you don't have the brains at least don't be so stupid
Comment from : @likemoney3147

I make pretty good money, but the 20 down payment is going up faster than what I could save & the average price of houses are going way way way higher than what I'm saving Idk how people do it
Comment from : @smhninja3746

Saludos Javier I listen to Dave Ramsey all the time and I agree with you
Comment from : @aroncarvajal7080

Shut up on the reserves!!! You need 18 MONTHS if a California Jumbo Come on
Comment from : @Evan_Adams

Dave is helpful in paying down massive debts If you do everything he says it will take years to get there and the price of homes are increasingly drastically
Comment from : @insomnia9999

Javier, Would you consider my 401k as an emergency fund???
Comment from : @carblanch335

Everyone's timeline and income is different Some have stable income to save for an emergency fund and have the ability to save for a down payment and some don't have this opportunity yet Definitely gets you thinking and encourages you to sit down and assess your finances and circumstances to make the best decision for yourself and your family Remember to be patient and realistic with yourself about what you're able to do
Comment from : @LP2488

I have a good example on how using your down payment for savings or things you need around the house can be a positive So me and my wife started saving up for our home 2 years prior to purchase, once we had picked our home we decided to use the down payment assistance let me tell you this decision was HUGE, we bought our house in Feb of this year, instead of putting our furniture and other basic things on credit we used the money we had saved, i got layed off 1 month after purchasing our home, not only did not having credit card payments helped but having that extra savings saved us from going into financial trouble as i just recently was able to find a job, to say the least that decision was crucial for us to stay above water
Comment from : @SoWyo7st

A lot of people tend to overlook saving money for things like inspection, home appraisal, termite inspection Doesn’t seem much but it adds up quickly
Comment from : @Pixiestar75

Lol - I think Javier was the realtor who’s wife kicked him out of the house 😉😆
Comment from : @sophieartmusic

When my husband and I bought our house we made sure we had 20 to put down so we wouldn’t have to pay pmi I am always surprised more realtors don’t encourage that
Comment from : @candycane5568

I had a realtor and his preferred lender try to convince me to use my emergency fund towards a house So glad I didn't listen to them
Comment from : @tomaitoe

Thanks Great advice!
Comment from : @melissiaboyd3976

Down payment, emergency fund, furniture fund, family vacation fund, savings, investments/retirement fund Damn, guess I'll be living in the back of my 1995 Chevy Malibu for another 10 years
Comment from : @kaosaepharn4326

What camera do you use?
Comment from : @carletedmonds

Pro tip: If struggling on saving on a down-payment/emergency fund, work backwards Learn to hustle whether it's school, training, or getting an additional job Don't be hung up on the market Take the opportunity to do self development
Comment from : @ThorFromAO

Naw I clicked on this video for the blurry furniture in the background
Comment from : @IbeSyke

How much would my monthly payment would be if I buy a 400k house
Comment from : @enriquehernandez9396

Can you talk about mortgage recasting?
Comment from : @LydiaSantiago

Lil Ramsey in the corner 😂
Comment from : @santruj

bI agree with you , all these gurus who are saying you need to have 6 months reserved saved are so unrealistic Many people these days are happy if they can pay closing costs themselves and don’t need to ask seller to cover it/b
Comment from : @Motivation66667

Good perspective! I'm saving a few thousand per month and it will take over a year for me to get a down payment I want here in the Denver area
Comment from : @sportsfan1717

To save money first of all you need an income,second you need to set yourself up in a monthly budget and third the most important is you need to have discipline not go over the budgetI have being doing this for the last 4 yearsthank god im working in my second income property waiting for the market to correct itself so I can make a killer deal
Comment from : @orlandovargas1427

How would you save enough downpayment in terms of house price keep going up by 5 annually? The money you save never catch the inflation rate in reality Ashamed of salespeople
Comment from : @warmyfung9538

Omg I love the pop up 🤣🤣🤣 Thanks for sharing the story of you and your wife's home buying journeyso amazing you were able to buy at such a young age Great advice per usual!
Comment from : @linda27189

I agree with you on the whole golden standards This is why I ended up buying even though I had to have 20 down for a condo that was hard to come up with but I was able to do so
Comment from : @ToraOni

We took the get out of debt and save up an emergency fund first route We didn’t want to prolong saving for a house too much longer so we saved 3 months of expenses first and plan to go up to 6 months after purchasing I feel a sense of ease doing it this way, I want emergencies to be an inconvenience and not financially devastating Like you said as well we also want to be able to FULLY enjoy being homeowners and instead of it being a burden This is what we decided to do and I think ultimately people need to decide what’s best for them We have 4K saved so far for a house and our goal is to reach 52k by next September by saving 4K/month 🤞🏾
Comment from : @sugalips428

Most classy diss on Dave Ramsey Salute
Comment from : @SnowbirdSteeze

I’m saving $40k in a year $18k of that will be used for down payment/closing cost The rest will be just for savings I’m at $9k right now it’s doable but time consuming
Comment from : @xtian96gt

Hey Javier how can i figure out how much i should save into a emergency fund?
Comment from : @serenityy1736

Just closed on my first house I love it Bought a lawn mower m mowed the grass 👍
Comment from : @3rdgentacoma

Ayo javi, thanks for this video brother Very informative I’m just gonna keep saving and saving 🤷🏾‍♀️
Comment from : @TheBudgetingButterfly

Can you get approved with very little reserves?
Comment from : @itskarla4u

Good info
Comment from : @missleggett8958

?? So you can always fix interest rate at a extent correct but you cannot fix the house value
Comment from : @miahmarieeeeee

“Be fearful when people are greedy, and greedy when people are fearful” - W BuffetbrbrI always took this as a literal term for money What I’ve realized through the course of my life is his quote is so much more My take away from it is this: if the entire crowd is going one way - go the other I’ve translated his quote to mean that, in a literal sense - if people are focused so much on doing something, do the opposite This can be applied to almost everything in lifebrbrIf anyone has been keeping up on the news, there are some dark days ahead The road of economic uncertainty is still on the horizon So many people have lost their job because of this pandemic, and so many more are on the line of getting cut I’ve made up a few of my own quotes to mirror what he was saying, but on something that a lot of people aren’t focused on - food brbr"Whether people are saving or spending money, it’s always a good idea to stock up on food”brbr"When the starvation sets in, the almighty dollar won’t be able to save you”brbr"A person who is starving will do anything to eat”brbr"A thousand dollars under your mattress won't help you if your kitchen cabinets are empty"brbr“If there were ever to be a catastrophic food shortage, people won’t want what’s in your bank account They’ll want what’s in your kitchen cabinet”brbrStay safe out there
Comment from : @theshield2004

I'm torn between saving for the down payment and/or closing costs, building an emergency savings, and paying down massive student loan debt that's in an IDR plan It's hard!
Comment from : @AhsokaRey

You are a God sent Exactly what I was thinking and needed to hear Thank you so much
Comment from : @mmmmmmm8219

I think you need to also address debt Paying off debt will make you afford more house than saving for a bigger down payment
Comment from : @olfab1

Great advise 👍 thank you for this video!
Comment from : @rosariorivera2411

I would have to disagree on the first part I pay almost 1600 for an apartment I have a family member that just brought a house (phoenix) and overall is 200 cheaper The rent here is ridiculous
Comment from : @jr5o100

Great video!
Comment from : @carelesstv4111

😂 Buying my first home in the Phoenix area, ill make sure I have a guest bedroom just in case my realtor ever needs a place to chill for a few days 😉
Comment from : @Riketzz