Growing up I did not have much other than the bare necessities. Though my mom tried her best, she could not fulfil our wishes. I always knew I had to study and improve my life. Today, I own a bike, a car and my own humble house. This has only been possible because of my prudent wife.
We married young for love and we knew we had to be smart to make it work for us. We started living in a rented space in a not so very posh place in Pune. We started saving heavily from both our incomes as we wanted to build a corpus for the down payment of our home. We limited our spending, cooked at home and watched a movie on TV whenever the mood arose – instead of going out and shelling a few thousands. It was my childhood dream to own a Royal Enfield and that is the only luxury we spent on. In about 4 years, we had saved enough money to put a down payment on a 1 BHK in a decent neighbourhood. The saving strategy continues. In addition to paying our EMIs, we save cash to prepay our loan every quarter and take holidays whenever we can. We recently also purchased our first car. We plan to become home loan-free in 10 years instead of 20.