So I decided we needed to take control of our financial situation, got all pumped up about it and then continued our usual spending habits. So we have gone back to the start and our ready to try again.
This time we have got he help of a financial advisor from our bank. She was able to hit us with a reality check and I think we are now ready to do this. A few things happened at the bank.
1. She spoke to us about mortgages, costs of house closing, taxes and gave us a number we need to aim for to save.
2. She set us both up with RRSP's. We will be able to use this money to buy our first home and reap the tax benefits. She set us up with a pre payment plan so the money will come directly from our account and buy $1000 each month.
3. She set us up with an automatic withdrawal so we can start really hacking away at our debts.
I am hoping to be able to reach our goal of buying a home within the next 18 months. I revisited our budget when we left the meeting and feel really good about the plan we now have.
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