It's such a cluster. Multiple years of constructed savings and paychecks and yet the final say is the fico score which I have to wait 5 more months with a starter cc and a phone bill to appreciate 60 points. Completely useless for scoring younger people.
It is hard to get a loan when you are a part timer even though you can make more than other full time jobs. They look on part time as "temporary" jobs.I just bought a house as a "part time" loader/unloader they could only use my base hours not my overtime because Ive worked here less than two years(they couldn't do anything until I had at least one year in). I've also spent a lot of effort getting my credit score from 520 to 720 in the past 18 months. It's doable just takes patience and effort. I actually got pre approved before my year was up by a different bank but they pulled the rug out two weeks before closing(after the offer inspection appraisal etc). But I have a house now
Pro tip...
This. Wait until you hit top rate so you can start putting some serious money away. Also, by then you’ll know if you’re in this for the long haul. I’ve seen quite a few guys make it to their second year and realize this isn’t the job for them. Even if you’re absolutely certain you want to do this for the rest of your (working) life, I’d still wait till your income is at its peak.
I hit top rate next year. That $6ish increase (I'm red-circled) equals $240 a week extra in just normal hours worked, nevermind the overtime. I'm actually pretty terrified of buying a house as I'm not a hands-on person at all, minus the yard work. Need to change a light fixture - pay someone..plumbing? Nope, paying someone. Renting has had its benefits over the years. My only question is how much should I be saving up? 20%? 30%?
Year 3 I pulled the trigger. Perfect timing. If you can’t have financial security as a homeowner then don’t buy. Save until you can cover the mortgage for at least a year.
Just don't get sucked into buying more house than you really need. I'd see these guys with 6k/month mortgages, that's like living with a gun to your head imho. As long as you can easily make your mortgage payment on a week's pay working 40 hour weeks you'll have plenty of money to pay the electrician and the plumber. Save your money so you buy a nice place out in the country after you put UPS in the rear view mirror.
If you in fact borrowed that amount, it must be a nice payment.
I would never be able to do that. You must be patient.
I grew up in the country. It's not for me.
Just a metaphor, I'm not really interested in country living either.I grew up in the country. It's not for me.
Being poor is motivating. When I started at UPS I was 26 and flat broke.
was embarrassing. I ate the same crap every single day packing my own lunch and cooking my own dinners. Quit drinking, played lots of video games, lots of golf at the cheap par 3 course down the road (20$ for all day). Got with my awesome girlfriend. It’s not like I didn’t have fun, I just stuck to the friend’ing plan. Every single day. I wrote it on my whiteboard and looked at it, EVERY SINGLE DAY
I meant the mother-in-law part.Being poor is motivating. When I started at UPS I was 26 and flat broke.
When I got annoyed at work, STICK TO THE PLAN
Yeah. The insane wage progression and job stability provided by your union contract. Put some time in and hit top rate and you'll be able to make a great down payment and qualify for a nice place. And if you don't already, start paying union dues.
Why’s your score so low? you skip out on some bills?
Having no credit is sometimes worse than having bad credit
