Hello everyone — I still can’t quite believe Mark and I bought our first house together. We move in this coming weekend and I’m thrilled to start settling in. I wanted to share how we got here and the saving strategies that allowed us to make a 20% down payment and cover closing costs — more than $90,000 in cash. It felt impossible at times, but it was entirely doable with consistent habits and intentional choices.
I grew up in a household that emphasized money management from a very early age. My dad, who values frugality and quality over impulse purchases, taught my siblings and me the importance of saving. From childhood he introduced us to savings accounts, stocks, bonds, CDs and other basic investments — and he even helped start accounts for us as infants. Birthday and holiday cash gifts were directed into those accounts rather than spent immediately. My parents also encouraged working at a young age; I started nannying at 12 and had my first real retail job at 16. Those early lessons and work habits shaped how I think about money now.
Fast forward to post-college: my first job paid $40,000 and required a two-hour commute each day. Back in 2012, gas prices were nearly $5 per gallon, and I spent hundreds each month on fuel alone. At that time I couldn’t imagine buying a home because I was juggling rent, groceries, a car loan, and other living expenses. Now, at 28, I’m a first-time homeowner and the financial discipline paid off. Saving more than $90,000 didn’t happen overnight, but the process taught me priorities and patience.
Below are the practical approaches I used to prioritize savings and build toward a down payment and closing costs. These are realistic habits you can adopt and adapt to your situation.
1. Be Credit Card Debt Free
Carrying credit card debt makes saving much harder. For me, being credit card debt free meant avoiding purchases I couldn’t afford and paying balances in full each month. I did have a car loan after college, but I prioritized not taking on revolving debt. If you can minimize or eliminate high-interest balances, you’ll free up cash flow for saving and protect your credit score — both important when applying for a mortgage.
2. Keep a Savings Account You Don’t Touch
When I finished college I had about $15,000 saved from a mix of part-time jobs and side gigs. I treated that account as untouchable — a growing fund reserved for long-term goals rather than daily expenses. Establishing a separate savings account and automating deposits helped me avoid the temptation to dip into it. Even small, consistent contributions add up over time.
3. Invest in Stocks and Bonds
Beyond a savings account, I contributed regularly to stocks and bonds. Even modest annual contributions — $50, $100, or $500 — compound over time and provide another avenue for growth. My parents encouraged diversified saving from the start, which exposed me to the benefits of multiple savings streams. Think of investments as a complement to liquid savings, not a replacement if you’ll need the cash soon.
4. Tax Return? Save It.
A tax refund feels like found money, but using it to reinforce savings accelerates progress toward big goals. Instead of spending refunds on short-term pleasures, I directed mine into savings or used them to pay down any debt. This habit compounds over years and keeps momentum going toward a down payment.
5. Choose Affordable, Enjoyable Hobbies
Having low-cost hobbies lets you enjoy life without draining savings. I love outdoor activities because many are free or inexpensive: hiking, canoeing, cross-country skiing and exploring state parks. We did invest in an initial canoe purchase, but that one-time cost paid for years of recreation. Other affordable hobbies and outings that work well with a budget include road trips, visiting local breweries (often cheaper than bars), cooking dinner at home with friends and yard games, rock climbing memberships, and community-center classes like pottery.
- Road trips
- Breweries and picnics
- Home-cooked dinners + yard games
- Climbing gym membership
- Cross-country skiing and hiking
- Community education classes (e.g., pottery)
6. When Business Income Grows, Save It
When my business started to perform well, I resisted the urge to spend all of the profits. I reinvested in the business where needed and also set aside a substantial portion for savings and investments. Allocating year-end profits to a savings account or portfolio helped me build liquidity for the down payment while still supporting future business growth.
These strategies — avoiding credit card debt, maintaining an untouchable savings account, investing steadily, saving tax refunds, choosing affordable hobbies, and directing business profits into savings — combined into a workable plan that helped us close on our first home with a strong down payment and closing-cost cushion. It took time and consistent choices, but the result is a financial foundation I feel confident about.
I’ll be back soon with a video walkthrough of our new home and before-and-after photos of each room. Thanks for reading, and best of luck to anyone working toward homeownership — small, steady steps add up.