As far back as I can remember my greatest aspirations have been a steady job, a wife, a child, and a house to call my own.

15 years after beginning my pursuit in earnest I am blessed with 3 of 4 dreams fulfilled. I have a challenging career with a bright future and a loving family who bring me immeasurable joy. All that remains is a house to call our own.

To my dismay, the dream of ownership remains for out of my reach due to a lack of planning and foresight. I should have started saving for a house a long time ago. Any amount saved would have been better than none at all.

Had I set aside $100 a month in the 8 years since beginning my career in earnest, I would have $9,600 toward a down payment. Had I saved $125 that number would jump to $12,000.

Add to the fact my salary has increased year over year and I could have increased my savings goal by an additional $500 with each annual raise.

With the compound interest of a CD I could have saved an estimated $30,000 after eight years

Unfortunately for those living in the San Francisco Bay Area, $30k doesn’t get you much in terms of a down payment. These days, 10% of a median-priced home in the Bay Area is closer to $65,000.

A recent article in the San Francisco Chronicle delves into this subject further: The Exodus of San Francisco’s Middle Class

Digressions aside, the fact remains: After 8 years my dream of home ownership remains far out of reach and I’ve got some serious catching up to do.

Next up: Pinching pennies, savings dollars.