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Get Those Goals

September 14, 2022 This past weekend I completed one of my long-term goals which was to hike all 47 Wisconsin state parks this year with 44 of them hiked since June 1. It originally started out as trying to visit just 10 new state parks, but it snowballed into something bigger the more parks I visited. It was a great, relatively low-cost way to explore the state and get outside. It also kept me nice and busy all summer long and gave me ideas for what I’d like to do next year.As summer wound down, I’ve been thinking of what comes next. Not only fun goals but also more serious long-term goals. I’ve always wanted to own a house but the idea of saving 20% for a down payment seemed insurmountable. Thankfully, there’s a lot of different assistance programs for first-time buyers. Back in 2019, I was in a pretty good place planning out long term to be able to buy within a couple of years. Then COVID. Even now, the market is still crazy but it’s about finding a balance between high interest rates but maybe less competition per house versus the crazy market of low interest rates and paying over the value of a house.I had a great conversation with my financial coach and a mortgage loan officer about what I can be doing now to prepare to jump into the market next year.
  1. First, we went over all my finances. Credit score, debt, savings, income, etc. I’m in a pretty good spot.
  2. Next was determining what type of total monthly payment I would feel comfortable with and what I could afford. That included down payment, Private Mortgage Insurance (PMI), taxes etc. I was able to ask a lot of questions about if I did X, how would it change this? If I chose a condo or a single-family home?
  3. Third, I wanted to know what I should focus on. Paying down debt or saving for a down payment? For me, it makes more sense to just save, save, save so I’ll be putting more effort towards that.
Lastly, I’ve always wanted to know more about how I can make my existing money work for me. I was able to put some money into a certificate and a money market so that my savings can make a little bit more in interest while I continue to save for a house. It’s not much, but every little bit counts! You might also be interested in What a ride it’s been! 2022 has been full of adventure and trying new things and I’m so excited by all the progress Project Money has given me financially... As the end of Project Money draws near, I can’t believe how far I’ve come since we started. Day to day, I always felt like I could be doing something more... How many times did my dad tell me this as a kid when I really wanted McDonald’s? How many times do I tell myself this in a week when I don’t want to cook... It’s that time of the year again when you reminisce and look back over the year and start thinking ahead to next year. Every year, I try to make a personal... Happy (belated) Thanksgiving! This year didn’t really feel like anything special since my goal was to keep it low key. I was able to make a nice dinner... One of the things, or problems, I knew about myself coming into Project Money was that I had a loose budget but I never let that stop me from doing the... I can’t believe we’re halfway through November! I feel like this entire year has just been me saying I can’t believe how time is flying. How is Thanksgiving... One of the biggest things I’ve always been interested in is investing but since I struggle with crunching numbers and finances generally overwhelm me... This week was a busy, chaotic week but a good one and we hit some big goals in this house! First, I finally paid off my last private student loan. It wasn’t...
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