This morning, I read an article discussing the importance of a down payment when purchasing a house. It stared me thinking about how important the process of saving is for couples. Not only does it have financial benefits, I believe it strengthens a marriage.
While She and I would love to own a house, this dream is off in the distance as I am just finishing my MBA and She is leaving her job at the end of the month to pursue a degree in Dental Hygiene. However, we are currently saving for a car to replace the 1999 Chevy Cavalier she has owned since high-school. She has longed for a new car since before we married, so we decided that we would use it as our first big saving project.
Saving has never been a strong suit for either of us, so it's taken a lot of discipline to put away money each month (on top of our retirement saving and tithe). However, we are on pace to have enough saved up to buy a car by the end of the year! We're both excited, especially now that we can see the goal within reach.
Through this process, we've both learned a lot. And, it has strengthened our relationship by forcing us to work through our frustrations together, lean on one another for the strength to overcome our desire for immediate gratification (we could have opted to finance it), and is giving us a sense of mutual accomplishment as we near the goal.
So yes, saving for a down payment on a house makes great financial sense. But don't overlook the many other lessons you and your spouse will learn along the way. You'll be building a solid foundation, both financially and emotionally.