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HomeUncategorizedHow Brice Capital Helped Me Buy My Dream House in 2012

How Brice Capital Helped Me Buy My Dream House in 2012

This past year, I bought my dream home because interest rates for a 30-year fixed-rate mortgage fell to an all-time low in 2012. Our suburban home is everything that my wife could have wished for.  

Curiously enough, if this unexpected opportunity for homeownership had happened in 2010, I would have missed out. Despite my six-figure managerial income, I was $30,000 deep in credit card debt. I was spending more than I earned—and didn’t even know it at the time! 

Here is the story of how I turned my finances around in just two years and was able to afford my dream home this year. 

A Distressing Discovery

I didn’t realize how much I was living above my means until the weekend I had an argument with Sue, my wife. A credit card invoice in the mail showed that she had spent around $500 on an Apple iPad for her sister’s college graduation present. During our argument, she mentioned I was no paragon of financial virtue myself.

Later, when I was alone, I sat down with a calculator to prove to her in hard, cold numbers how well I kept our household finances. After all, as a senior manager for a mid-sized corporation, I knew all about money!  But I was in for a rude shock. After I calculated how much I owed on my credit card bills, I realized she was right.  

A Tip in Time

When I went back to work on Monday, I spoke to Murray, my friend in the finance department, about my overwhelming debt, and he suggested I get in touch with Brice Capital to consolidate all my debts. 

Consolidating my debts allowed me to roll multiple bills, such as high-interest credit card invoices, into a single monthly payment. The consolidated loan I got reduced my overall debt because I was able to pay a lower interest rate.   

After a few months of making regular monthly payments and no longer using my credit cards, I was also pleasantly surprised to discover that my credit score went up. 

More Sage Advice

Besides finding an efficient way to pay down my debt and cutting up my credit cards, I started saving money to build an emergency fund. After I had saved up six months of living expenses, I decided to celebrate by inviting Murray for lunch at a fancy Italian restaurant. 

As we enjoyed the antipasto, breadsticks, and lasagna, I bragged about my financial proficiency. 

Much to my surprise, Murray wasn’t impressed. Instead, he suggested I should not save any more money.

“It’s not a good idea to save beyond six months,” he said. “Inflation is increasing at about 2% a year.”

“Hunh?” 

“The more money is printed and circulated in the economy, the lower the purchasing power of the money every year,” he explained.

“That doesn’t sound like much.” 

“Save up to a million, and 20 grand disappears.” 

I just stared at him in shock.

He nodded, smiling grimly. Then he continued: “There’s a way to beat inflation. Buy paper assets to keep up with the rate of inflation. Hard assets like real estate are harder to liquidate. You can sell a stock in a day. It would take you about 6 months to sell a house”

“Hard assets? Paper assets? What are you talking about?”

“Paper assets are things like stocks and bonds.”

“What should I do?” I asked.

He suggested I buy stocks in promising companies like Capital One, Hershey, FedEx, and Microsoft.

That’s exactly what I did and watched my money grow.

Wrapping It Up

I turned my finances around once I recognized that I was living above my means. Since high debt placed me in a precarious situation, I got a consolidated loan to pay off my debts quickly and efficiently. I also cut up my credit cards, started a 6-month emergency fund, and invested in some great stocks to beat inflation. Now, we have the home of our dreams and we don’t argue about money.

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