Personal experience: extreme savings helped me buy two houses in New York on a teacher's salary

A man who grew up during the Great Depression, the son of immigrants, learned the value of money and instilled that knowledge in his children. Following her father's example, his daughter bought two houses and a new car, all on her teacher's salary in New York. Next is a retelling of her column for Business Insider from the first person.

My father was always an extremely stingy person, but his lessons helped me buy two houses on my teacher's salary. How did I do this? It's simple: I imitated my father.

Despite the fact that we had a San Remo discount card, we never ordered pizza delivery from them. This would mean paying a tip. So we would order a large pizza to go, and one of us (usually me) would go to the cafe and pick it up in person. This is what we did with all our takeout orders. It may seem like such a small thing, but I learned early on to be careful with money. If you are able to do something yourself, you don't need to pay someone else to do it for you.

As I got older, I discovered that some of my father's habits were passed on to me. When video rental stores were at their peak, I would run there in the middle of the night to avoid paying for being late in returning a previously rented tape or disc. In fact, I can proudly say that I have never paid a fine or late fee for anything. Never.

No loans and taxis

When my friends in college were shopping on credit, I took on a part-time job. Then another one. I always made sure that I had enough of my own money for expenses. I know people who only pay the minimum on their credit card each month; It never made financial sense to me. I often use personal rather than credit money to better balance my finances and avoid surprises when bills come.

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I love to travel, and since I work as a teacher, I have the opportunity to take advantage of my vacation in the summer. From South America to South African safaris, there are no restrictions on destinations. But I choose hostels instead of luxury hotels. I scour the internet for hours, sometimes days, until I find the best price. I never felt left out and this way of traveling allows me to get to know the locals better.

I'm probably the only one these days who doesn't have the Uber or Lyft apps on my phone. I am ready to walk for hours or take public transport, but I will not take a taxi. All these little things add up and I have never gone into debt.

Two houses in 5 years of savings

Previously, when I received a tax refund, I often spent it on purchases, but then I realized that if I wanted to have my own home, something needed to change. I spent five years saving all my tax refunds while working part-time jobs until I had a down payment. I saw how little my father needed to be happy, and I tried to imitate him.

My father's thriftiness with money can sometimes be excessive. When we stayed in cheap motels, my mother said he was just bursting with the desire to bargain. And indeed it is. His face literally lights up when he gets something for free or on sale. I'm the same, but I like fashionable things from time to time.

A few years ago, when COVID-19 hit, I was able to buy a small second home in upstate New York. I basically live in a co-op in Brooklyn. It was difficult, but I knew I had the means to survive. I used the money I had carefully saved for five years for the down payment: I bought used furniture from reputable companies to decorate it, sourced items from handmade stores and Buy Nothing sites, and created a cozy home.

Although I am not very handy, I try to cut costs and do everything I can on my own: assembling furniture, painting and even renovating the backyard. I realized that being creative is much more interesting than buying goods from a catalogue. When I'm not using this house, I rent it out to cover the cost of maintaining it.

Recently my father came to see me, and together we repaired an old stool in order to buy a new one. It turned out great. Never throw anything away. I get inspired by good deals and my life is richer for it.