5 Years of Saving and I Still Can’t Afford a House!
The Ramsey Show Highlights
Ramsey Network
4.5 • 839 Ratings
🗓️ 14 February 2024
⏱️ 5 minutes
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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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