How to buy your 1st house when you just got out out of college? – A college student saving guide

Is it even possible? Graduated from college and immediately purchase your very 1st property to live in or rent out? The answer is yet, but the question is. Are you going to do it? I often see people, especially college student complain about being broke and yet they spent thousands of dollar on books and then sell it back at the book store for 25$? I asked myself, what the heck?

While is it true that saver is loser, however, saving to purchase an investment is perfectly fine. It fact it is one of the best strategy to start out because other people will probably won’t let you touch their money until you done a deal or two by yourself. The point is: you have to start somewhere guys and gals! Saving up is one of them. A lot of University will probably hate me for writing this. If all the college students can learn to save money like I do, they will go bankrupt but hey, this is where I get to exercise my 1st amendment, freedom of speech

1st thing you can save is on book: Like I mentioned. I don’t understand why there are still some people, or lot of people, line up at the book store and purchase book for hundreds and thousands of dollar while you can get it elsewhere such as amazon, eBay or craigslist or a fraction of the cost? To make it worst, they are lazy enough not to even put their book up on eBay or craigslist to resell but simply sell it back to the book store for 25$ or 50$? Maybe some of you that did this can explain this to me but I can’t wrap my head around this. That’s thousand dollars of saving for you for 4 years. To top it off, you can use this saving to purchase gold and silver coin to fight against inflation during 4 years of college. 

And I have friends that are lazy enough not to apply for Financial Aid even though they qualify. Why not guys and gals? I won’t go deep into this subject of Financial Aid here, but let me tell you that their un-subsidize loan is anywhere from 4.99% to 6.99% with no payment while you are in college and they give you 10 years to pay back when you get out of college. If I were you and I don’t know what to do with the money, I will just apply and get them and then buy a bunch of gold and Silver bullion and lock it up in the safe. By the time you get out of college, the price of the dollar probably went down and gold therefore went up. Gold increased from 800$ to 1500$ during my time.

Scholarship is the 3rd. It’s hard to get but you just have to work for it. You will be surprise that lots of scholarships don’t have enough people apply, and when you sent in the application. You are the only one. Also, keep your grade up. Good grade will give you a good job and earn you money while in college. 

4th is community college. I went to University but I took look of basic class at a local community college in summer and winter for a fraction of the cost. I remember a History class cost 1000$ at my local University but 150$ at a college community. Why the heck pay 1000$ while you can pay 150$ to get the same credit. Does your degree say how many classes you took at a local community college?

Mine doesn’t.

5th is the famous one: live below your mean. I know this is hard but you have to focus on your long term goal. What do you want to do when you get out of college? Go work for the rest of your life to pay for what you did in college? If yes go for it. If not, then stay at home with your parents instead of the dorm, or take your Girlfriend out for McDonald instead of Sushi (I’m kidding). Anyways, the point is don’t spend more than what you make. I believe you won’t make much during this period so just don’t spend to show off than you can afford.

let’s say you took 4 year in college spend 500$ on book instead of 2000$, Apply for Financial Aid and get an extra 2000$ per year in loan or grant, apply for scholarship and get 1000$ extra per year, go to community college for your basic class in two year and save $5,000, eat with your significant other at McDonald instead of steak house and save another 1000$ per year. 

Do the math yourself. You should be 27000$ richer when you get out of college while other graduated in debt. Not even mentioning that you are smart enough to allocate some of the money if not all into gold and silver. 

Now all you need to do is get a day job for a W2 and you should be on your way to purchase your 1st house right out college. Congratulation!

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