Is Now a Good Time To Buy a House?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Business, Investing

4.6 • 3.6K Ratings

🗓️ 5 January 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Let's get to the calls. I need some hope, John. Let's see if Cooper can provide that in
0:26.4	Olympia, Washington. Cooper, what is going on?
0:29.1	Hey, how's it going? I appreciate you taking the call.
0:31.6	Absolutely.
0:33.0	What's going on with you?
0:34.0	Oh, I just got a little, I've got a, hopefully a simple question you can answer.
0:37.0	So I'm 21 years old and I'm trying to figure out if I'm currently running out a house.
0:42.0	I'm trying to figure out if now is a good time to start looking at purchasing my own home or it'd be better to increase my savings and whether it invests the stuff I have now to maybe further my down payment.
0:54.4	I'm kind of a little bit lost because I got a new job,
0:57.3	and so I'm looking for what's the next step.
1:00.8	Okay, give us a little bit of your financial picture.
1:03.4	Do you have any debt?
1:05.4	I'm debt free.
1:07.8	I've got roughly like 25,000 in my savings account and then I've got $31,000 in a CD loan that will be pulling out in January.
1:19.0	And is that 25, is that your emergency fund?
1:22.0	Nope, that's savings.
1:24.0	That's everything I've got in the bank.
1:26.0	Okay, so do you have a separate emergency fund?
1:29.0	I do not have a separate emergency fund.
1:31.0	Okay, let's call that your emergency fund is that about six
	...

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