When we think about the “American Dream” buying a home is certainly a core element. At least that’s what I’ve been told. However, far too often I find people getting tempted into buying a home that’s way too big for their bank account because society says, “you should buy a house you can grow into.” I can tell you first hand that is a dangerous statement. When your home (or your mortgage payment) is bigger than your bank account the risks can far out weight the benefits.
On This Podcast Episode:
- Let’s discuss the dangerous of buying a house bigger than you need
- How to define your ideal home
- What are some factors you should consider to buy the right home for you
- How can you balance your goals with your mortgage payment
- Life lessons I learned from the all too real lifestyle creep
- Why you need to make smart home buying decisions (and how to correct not so smart ones)
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.
Shannah Compton Game is a podcast host and CERTIFIED FINANCIAL PLANNER of the top-rated Millennial Money podcast. Millennial Money has over 6-million downloads in 164 countries. Shannah’s years of experience as a skilled Certified Financial Planner have set her on a mission to revolutionize how people think, act, and feel about their finances…and have some fun doing so.