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The Ramsey Show Highlights

5 Years of Saving and I Still Can’t Afford a House!

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5839 Ratings

🗓️ 14 February 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by the Every Dollar app.

0:04.3

Start budgeting for free today.

0:06.3

Natalie's in Los Angeles.

0:07.5

Hi, Natalie.

0:08.0

How are you?

0:09.8

Hi, thank you for taking my call today.

0:12.3

Sure.

0:12.6

What's up?

0:13.7

My question is, my husband and I have been savings for a house for almost six years.

0:21.0

Our plan we thought would be three to five years, but then COVID happened and everything

0:24.9

is inflation, and we still aren't in a position where we can afford a house.

0:32.5

And so my question is we have money saved, and I'm not sure what we should do with it because it's just

0:39.0

sitting in the bank. How much do you have saved? We have about 90,000 and my goal is by the end

0:46.3

of the summer, we'll have 100. That's awesome. So can you just drop it in a high yield savings account,

0:51.6

like one of those online ones?

0:58.2

I mean, the rates are pretty decent right now.

1:03.8

So how, like, how long would you suggest? I guess you just... The high-yield savings accounts don't have a time on them.

1:05.8

Uh-uh. You can just drop it in there and kind of set it, just forget about it.

1:10.2

And when you're ready to use

1:12.0

that money, you can pull it out. There's no stipulation on pulling the money out. Oh, okay.

1:17.7

The, uh, uh, I'm a little curious. What's your household income? So we have like a very unique

1:26.3

situation. We live in LA County.

...

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