Donuts, Mortgages and My White Skinny Jeans….Huh?

You might be thinking to yourself, “What do donuts, mortgages and my white skinny jeans have in common?”

Well, this is my first official blog post of the year.  And going along with some common themes of the new year would be ‘resolutions’.  I think many many people have resolved this year that,

“This will be the LAST year that I will rent.  I will own my own home this YEAR!”  

But what does that have to do with donuts, mortgages and my white skinny jeans?

When I think of donuts I think of: sugar, sweet, fat, bad-for you, insulin shock, icing, white poison, weight gain…. in other words, nothing  good!  In fact, those all things that I am currently working on getting RID of this year in my life in order to be able to fit into my white skinny jeans that haven’t seen daylight since 2009.   But in my day to day reality, donuts are soooo tempting!  In the moment when faced by all of their beautiful, soft, sugar glazed faces I am a weak, weak woman and it is a FIGHT to resist those little deep fried pieces of dough.  But eating donuts does not help me to reach my goal of getting into my skinny jeans!  So let me ask you,

What “financial donuts” do you have in life that are preventing you from reaching your skinny jeans home ownership dreams?

Free Girl Eating Yummy Pink Donut Creative Commons

So many people come to me and tell me that they want to own their own home.  But all around us are financial temptations that seem to push that dream further and further away.  Some examples are:

  • Purchasing a vehicle.  Did you know that a $500/month car payment can reduce the amount of mortgage you qualify for by roughly $100,000?  But you need a vehicle? Okay, I get that.  But seriously consider the effect that that car payment will have on your budget and affordability.
  • Having no savings/investments.  Lenders are extremely hesitant to lend money to borrowers who have no established savings or investments.
  • Skipping loan/credit card payments. Your credit history is one of the MOST important criteria for qualifying for a mortgage.
  • Buy Now, Pay later.  I’m gonna be blunt here. YOU. DO. NOT . NEED. A. FLAT. SCREEN. TV.

What can you do? One thing that helps me in that moment is remembering why I want to wear my skinny white jeans.  Is it because I want to look hot?  Absolutely!  But also because I want to be able keep up with my son and live a long and happy life.  Losing weight to fit into those jeans are steps towards that goal.

If home ownership is a dream for you, the best tip I can give you is:

Write down all of the reasons why you want to own your own home

(read this blog post: http://www.themortgagenavigator.ca/uncategorized/how-to-make-267093-net-in-a-decade-no-funny-business/ if you need some inspiration to get started)

And then keep that with you everywhere!

Put it on:

  • Your bathroom mirror and stare at it while brushing your teeth
  • Your coffee maker while you wait for your java to brew
  • Above your bed on your ceiling so it is the last thing that you see at night
  • In the car, taped to the steering wheel

This is something that you can start and implement TODAY!!  Constant reminders of what you really want in life will shape and change your actions so that you can attain your goal of home ownership.  You will be surprised that once the idea of owning a home becomes ingrained in your psyche, how it becomes easier to make different small and daily choices that over time can bring you that much closer to your goal.

So let’s make a deal:

If you get rid of your financial donuts, I’ll stop eating the real ones.

  And next time we meet?  You will be a home owner and I will be wearing my white skinny jeans.

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