This is a guest post from my VA Clarisse, who shares how she transformed her financial life and eventually became a homeowner!
My husband and I got married young; I was 19, and he was 18. By the time I was 21, we had a daughter. Back then, we didn’t really consider the financial challenges of raising a child. We were immature, but thankfully our parents were always there to guide us. We currently live in my parents’ house, which is common in Filipino families. When my father passed away seven years ago from colon cancer at the age of 49, I promised myself I would stay with my mother.
My husband works in Manila, while I live in the province with my mom, daughter, younger sister, and two nieces. In 2012, we tried living in Manila but had to move back to our province after just two months because my mom needed surgery to remove her gall bladder. Living in a big city is tough, with long hours stuck in traffic and high costs of living.
For a long time, we were living paycheck to paycheck. Although I made budgets, I rarely stuck to them. I had a habit of buying unnecessary things and treating my family to expensive outings. I especially loved visiting massage spas.
In October, my husband got promoted to senior software engineer. He came home for Christmas with a plan to find a house. He always said he wanted to own a house, a car, and have some investments before resigning from his job to be closer to us. Right before his return flight, he extended his vacation by a week to look at houses. When we visited a potential home, I loved it. We decided to reserve it immediately since it was the last available unit at that price.
The house will be ready in six months, but we’re planning to move in by next January. We’ll need to make some modifications, like adding window grids, changing door locks, installing a door screen, and building a solid fence around the house. While the financial responsibility is daunting, my husband and I are determined to manage it.
To prepare, I downloaded a budget planning app and have made significant improvements in our spending habits. We’re cutting unnecessary expenses, like frequent salon visits, and reducing splurges to once a month. I’ve also involved my daughter in our budgeting plans, and she understands the importance of it. I revised our grocery list, eliminating items like chocolates, junk food, and sodas. Instead of shopping impulsively, we now prioritize paying off debts, saving, paying bills, and doing groceries.
As a first-time homebuyer, I’m open to any advice you might have. Please share your tips, I would love to hear them!