Rebuilding Savings

PurplePandamania · August 2011

After purchasing your house, how long did it take you to rebuild your savings? Did you continue saving at the same rate that you did when you were saving up for a down payment?

I was putting a certain amount every month into a high-interest savings account for my "house fund." Now we're two months post-move, and I'm thinking of reducing the amount I put away by 20% per month, so I can have a little extra cash on hand since our monthly expenses are a bit higher in the new place. I'll still be saving, but since I'm not saving up for a house right now maybe I don't need to sock away as much.

breaness · August 2011

We're going to be building our savings a little slower at first since there are still some large expenses that need to be taken care of as first time homebuyers (for example, we have no lawn care equipment, and a 3/4 acre yard) but once we get all of the necessities taken care of we're going to be saving at the same rate as before.

barbbhoww · August 2011

breaness:
We're going to be building our savings a little slower at first since there are still some large expenses that need to be taken care of as first time homebuyers (for example, we have no lawn care equipment, and a 3/4 acre yard) but once we get all of the necessities taken care of we're going to be saving at the same rate as before.

Pretty much this. We aren't going to put anywhere near the same amount in savings each month due to a higher mortgage and expenses like a lawn mower, a new couch, appliances and other random things like carpet cleaning. Once we get the big things out of the way, we'll be able to save quite a bit more.

Rebuilding Savings

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