Comments on: Break your big goal into chunks

By: Nicole

Nicole — Sun, 31 May 2009 17:47:53 +0000

Kacie, that point about the student loans is awesome. I am slowly chipping away at over 6 figures of student loan debt (med school tuition is insane!) I’ve paid down about $7,000 so far, and I think it would help to “check off” each semester as I get it paid. Thanks for the great idea! Good luck on saving for the house.

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Mon, 25 May 2009 09:59:42 +0000

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By: QuickHits: Memorial Day Weekend Edition | Prime Time Money

QuickHits: Memorial Day Weekend Edition | Prime Time Money — Sat, 23 May 2009 10:01:35 +0000

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Fri, 22 May 2009 12:01:34 +0000

[...] Sense to Save, Kacie recommends breaking your goals into chunks to make them less [...]

By: Becky@FamilyandFinances

Becky@FamilyandFinances — Fri, 22 May 2009 02:57:45 +0000

That’s an awesome way to look at it – I LOVE the idea :)

By: Blake

Blake — Thu, 21 May 2009 14:05:48 +0000

Another potential piece of motivation- interest rates. It would be ideal to lock in a long-term, low-interest rate asap before they start steadily increasing to curtail the imminent inflationary pressure.

It’d require some number-crunching, but it could potentially make sense to buy sooner, assume more debt, but lock in a much better rate.

Congrats though on actively working towards your goals. I’m reading ‘Think and Grow Rich’ right now, and Hill keeps reiterating the importance of a defined plan backed by a focused, persistent effort. Seems like you’ve got that down!

As for the question you posed to us, I too like to break savings objectives down into smaller, more psychologically-friendly chunks. ING helps tremendously.

By: leatitia

leatitia — Wed, 20 May 2009 19:51:48 +0000

That’s such a great idea, I never thought to look at it that way. I’m trying to save for a house too and it seems unattainable. Thank you for the tip, I’ll certainly use it. Love your blog!

By: Kacie

Kacie — Wed, 20 May 2009 18:41:57 +0000

Sounds like you got a great deal! When we spoke with some mortgage lenders, they explained to us that closing costs and prepaids were separate things. We could expect $3k to $3,500 for property taxes and insurance in addition to about $4,000 to $4,500 in closing costs. Ugh.

By: Tammy

Tammy — Wed, 20 May 2009 17:59:30 +0000

Hey, Kacie

I just wanted to tell you that insurance and property taxes were included in our closing costs when we bought out home 7 years ago. The total closing costs that we paid were about $2200.

You’re very smart to be planning for these things so far in advance. Good luck