How To Quickly Save For A House While Renting 

Timestamps! 1:12 Why buy over rent? 1:32 The fear of missing out and bad decisions 2:13 The "throwing money away" myth 3:39 Your 3-step savings plan 7:54 Everything you need in your plan 8:37 Paying down high-interest debt first 10:10 Why budgeting is important 10:52 Where to put your savings 12:05 The best budgeting method 14:35 Pause retirement savings to accelate savings 15:24 Getting a second job 15:39 Eating at home 15:55 Getting a roommate 16:25 How to stick to your plan

23? So calm and collected . When I was 23 I was the total opposite.

You just made me feel so calm about all this I could cry rn 😂💛 thank you so much

Yea your body is 23 but your soul is definitely 68 and retired. So I appreciated the pep talk in the beginning as I am currently buying patience at $1,850 a month for 2 beds in a 600sq ft space (yea, New York), my best friend in SC can pay her mortgage twice with that. Anyway, I didn't have a money goal or a budget, I just knew I had to have a chunk, so I've been on a spending freeze and have removed all debt. Now to get that budget in place. I am better off having watched this video. Tnx!

I can assure you that if you’re 23 and fear of missing out on marriage and a house, just chill. Like legit. Stop rushing important shit in your life and just love steady and consistently towards your goals

It’s been 3 months since I decided to stop renting and came back to my parents until I figure out my next steps. Prior to watching this video I was feeling anxious because now that I am not budgeting for rent, I felt like I needed to save 100% of my income to buy a house. I measured all possible scenarios without taking into consideration “by when do you want to achieve it?”. After watching your video, I budgeted everything against 3.5 years and, who would have thought, my anxiety is over, and now I can go back and rent, save for my house, invest and also support my parents. THANK YOU so much don’t ever stop this channel

Inspiring to know that the down payment is not a fee, but instead starts up the equity

Thank you so much for making a video on saving for a home that doesn’t involve moving back in with your parents. For many of us, it just isn’t possible. My goal of home ownership has always been due to the feeling of insecurity that comes from renting. That’s an external trigger that stems from fear due to past experiences, and the health issues stemming from sub-par living conditions. I’m living in a moldy apartment at the moment and the property manager has been ignoring my requests for remediation. Today I’m coming up with a list of internal motivation, and setting up automatic transfers to savings that will help me stash money away every week.

I love what you said about renting! People are always telling me I'm throwing money away but I know if I jump out there and buy a house now I wouldn't get what I want and I would not have peace of mind financially.

Your videos are so clear and so non confusing, wow 23! Can you mentor my 20yo!!! But really, thank you for all of you valuable information and just your delivery of it

I’m blown away that you can buy a home for $100k. I’m in LA, and you’re right - some old studios (not even a 1-bedroom) might cost $500k.

Start saving ASAP. Just get started. Get educated. While you are saving, contact a realtor who works with first time buyers. They will know about Grants to homebuyers, city, county state and federal programs. I am not saying buy, i am saying get educated. Interview several realtors to find the right fit for you and your needs. Go to open houses, get a feel for different areas. Remember- do not get FOMO, there are millions of homes out there, lots of deals. If you miss one opportunity another will come along. While you are looking around I would highly recommend a course/class on how to maintain your home. Community College, Parks and Recreation and I’d even contact you local Habitat for Humanity to see if they offer any classes or know where some are. They have their program participants take this class and a budgeting class. You might want to volunteer for them. There are all kinds of contacts you can make while helping a worthwhile charitable organization. Also, use this time to learn to cut your expenses. Freewheeling is fine, but you are now looking at a serious commitment. I would recommend you read “Your Money or Your Life” by Vicki Robbins. Dave Ramsey is fine and he is right about a lot of things, but this book has a different approach. Worth your time and effort. Available at libraries, Amazon or EBay both new and used. I am not affiliated in any way. I suggest you use RU-vid to develop skills in getting food and personal/household items free or at low cost. This pandemic had no affect on me. I bought the best toilet paper for next to nothing, and store a 6-12 month supply, I shop my pantry not a full price store. You can learn to pay pennies on the dollar or free for toothpaste, toothbrushes, deodorant, shampoo/conditioner, toilet paper ( yup even charmin), laundry detergent, dish soap, feminine care (pads, tampons), razors, shaving cream, etc. I tend to do this twice a year for a month or so. Between - sales, coupons, store coupons, rebates I seen people even make $25-200 a month cash to get things. Even food is included in this. My grocer gives me a free item each week for using their online coupons. Free 8oz yogurt, free fruit, free milk and all I do it click the coupon and punch in my loyalty card at check out. Just these savings alone could supply that $200 a month you want to save for your new house. Anything you get that you don’t want can be donated to a food pantry, church, homeless shelter. Example: a guy might say I’m not buying makeup even though I can make $1-6, buy it, donate it or give to little sister and use the $1-6 to buy razor, deodorant, shampoo, or even food. Its like having a side hustle that makes $100-500 a month that you don’t have to pay taxes on. Once you understand the process, it very easy, and RU-vidrs post the deals a week in advance. In line somewhere, pull out your phone and check deals for later. I even screenshot deals to take to the store with me. This is all possible, on step at a time, one chunk at a time until the mountain is yours Best Wishes!

I just moved from a great city apartment in a great area by a beautiful city park for a way far out in suburbia that is smaller. ... I save $350 a month. I also am keeping my 10 year old Kia as I almost bought a new one this weekend. Wish me luck as I need to get this stupid house. Man it's such a great pain but I pray it's worth it

I just found your channel tonight. Because of student loans, that I only pay $56 a month for (for some reason the broker has to calculate a hypothetical payment of $500 per month, which drives me insane, btw) I have recently been told my DTI requires a down payment of ten grand. I was banking on the $3 - $4 grand he initially threw out there, but, no, I have to scrape up the rest to qualify for a home at a realistic price in SoCal (Right now, I qualify for an amount that is just pretty non-existent in the Golden State) I'm not sure how I'm gonna do it, but I know it can be done ( I think?? 🤔). Your empathetic and encoraging video was just what I needed. New Subbie. Thank you. And don't make this salty foreign substance fall from my eyes again, young man!

I literally LOLd at $100k for a house. I'm in California and I need minimum $500k. Anything less is a dump. I'm so sad 😭😭

Thanks Kyle. Much appreciated.

My goal is 5 years I am currently doing my prerequisites for nursing, and after I get into nursing program I will be doing my RN and BSN at the same time. So my goal is to pay off as much debt as I can this next year and that way I have more wiggle room to save when the time comes but right now I am focused on my emergency savings, paying off debt and school 😊

Love the typed notes!

Loving these videos bro. 👍

Only 23, so calm, smart -- wonderful video!!

Wowwwwww....you done it again!!!!!....you relized me from thinking. Definitely i am going torent a cheaper place....little aprtment wirh my little son and save half of the money to grow my saving for a good down payment Thank youuuu! You are an angel. So real and compassionate telling always the true!

"Other people's opinions of where you're at shouldn't dictate what you're doing." - everyone this side of the planet needs to hear that little golden nugget.

Helpful that you showed how to actually break down what we need for a down payment - Having a concrete plan on how to save is way more helpful than a vague “we need to save for a house!”

I love YNAB! So helpful for daily planning and keeps you accountable. I decided to decrease my 401k contributions for 8% to 3% (employer matches up to 3%) to start saving for a home sooner.

Thank you for this video, helped calm me down a bit haha

Thanks for sharing your wealth of knowledge. I watch all your ads to the end because you deserve to get the compensation! Btw, you give me a false idea that moving to Ohio might be great not because of the $100,000 house but maybe all Ohioan men are all so intelligent and amazing like you!

Thank you for taking the time out to explain the home buying process. Please advise me on being a 1st time home buyer, a senior on fixed income, no credit due to not being in debt...... should I even try?

23? So mature. Are you a homeowner? If so, can u do a video on your process?

You are the bomb! Where were you when I was blowing cash like I had no tomorrow?

I wish you can make a video like this for people living in the state of Massachusetts in 2023 🙏

Hey, thanks for all the tips and info. I downloaded YNAB. I've never linked my account to software tools. I'm worried but I am ready to use help for budgeting.

Kyle, you have a great voice

Wise beyond your years sir

Thanks so much , my girlfriend and i are still renting but planning on saving for a house . The video was quite informative.

how do you save for a house when the average price is 800,000 and many over 1 mil. 50k a year salary in a good job and renting costs 500 a week

CA good luck lol good one bro

Yes,I get this all the time ....which some can be true I guess,however;I don't have any debt no collection but, I have to come up with the 3.5% so, I have been saving.I wanted to know more about the HUDhome ,if it's better and is it really cheap.I was told that I would bring more to the table.I also,wanted to know do they help with fix up cost.I have to in search since2019 but also, taking my time to make sure I get a good deal and will or how can we get cash back at closing

Hi Kyle, I’m torn between moving out of state next year and waiting until 2022. Next year I’d be able to put down 5%, while if I wait an extra year I’ll be able to put down 20%. Given these two scenarios, about how much would I be saving in my monthly payments by giving 20% down? I have a 800+ credit score, looking at a $250K home (traditional mortgage). Thanks for the video!

I saved 200$ from every paycheck for 3 years and I was set for a down payment.

Service credit union! 5% APY on savings!

You have a nice speaking voice 👌 👏 👍

Hey what are your thoughts on buying with a with co- applicant

I'm jazz-handsing because I've already been saving $350 a month. But then I stop jazz-handsing because it's all for a surgery I'm paying for out of pocket. So the surgery is $5700, so a house is just... like... two surgeries... yay... Everyone is saying to do a budget, but I grew up not buying anything at sticker price. It's a fight to let myself buy basically anything. (I'm so bad at groceries because it's easier to not eat than to spend money...) It might be healthier to have a budget instead of like crippling guilt but I don't see the point in having both lol.

Hey man I’m so glad I came across your channel I already subscribed your content is amazing I currently am 23 years old I’m in a serious relationship I’m paying $550 a month in California for a room with a shared bathroom no access to a kitchen do you think it be a good idea to upgrade to a studio for a one bedroom apartment and split the rent with my serious girlfriend

I reside in California, San Diego to be exact and boy oh boy its impossible to buy a home that is 260,000 I am in the works of saving to buy a home in another state other than California, would I still qualify to purchase a home if I transfer my job? The accompany I work with has locations in the state I am looking to buy a home. Would that be a problem with applying for an FHA loan? Been at the job for 4 1/2 years.

What happen if the rent and mortgage is the same price

Why wouldn’t you agree with paying off all your debt first? That’s my current plan right now. My only debt is my car and my plan is to pay that off first before applying for a home loan. I’m doing that because I don’t want any debt besides my home.

Omg dude I’m 23 !

We're trying to buy a home to give our children stability throughout the rest of their childhood. Do you do business in Florida?

Where you finding these 1.5 to 2.2% accounts?!

First of all….. you’re 23?! I wish I had this knowledge 10 years ago! I’d have a house paid off if I had saved back then 😭😭😭😭

Somewhat tangential, but do you like Ohio? Would you move somewhere else? I’m also 23/24 and couldn’t imagine what it’s like to be live in the suburbs so young (currently in nyc).

I just cash out my 401 k because of covid19 only pay 22% in taxes but my only way to get a down payment

23? I'm dead.

Thank you! Very informative. I just made a similar video on my channel as well. It will be so worth it when we wait, save up and then put down a good amount as Down Payment, so we can truly enjoy our DREAM HOME!

I want my children to have a house to grow up in. A special place that is ours.

You're handwriting is less than legible, to put it lightly. The typed notes are a godsend.

Here i am looking at Condos for 500k then looking at the HOA for 400/month 😩😭😬 How is this possible?!!!

Hahaha I get to your 100k and California as I'm in cali, yeah... hahhaa 250k barely covers some condos hahah

step one. don't listen to wall street bets

Wow, where are this $100,000 houses that are not a dump???

What steps do I need to take to pre-qualify for a FHA loan?

typed notes are 100 times better

At 23 all of your friends are getting married and having kids??? Wow to each their own… And buying houses at 23? I think I just graduated college then.

You work at home well.

Who is having kids and buying houses at 23?????? So young. I thought you said 33

ur only in early 20s? 😳 i mean ur cute but u act/look like in late 30s bruh

Save for a house? Get a second job

23? you’re the only 23 year old I’ve ever liked. Lol (nobody likes 23 year olds ;) ) jk jk