BSU-Account the way into debt in Norway

[ProjectParticipant 507]

Here in Norway we have something called a BSU account which stands for “Bolig Sparing Ungdom” which translates to House Saving for young people. Now if you ask for a loan to a place to live in you will get lower rents for your loans.

Many of my fellow around my age do this, but I think it’s stupid as ****. It has a lots of limits, one of them is the fact that you can only save up to 25K NOK a year, this translates into about 2900USD. The second limit is that you can only use this money for taking a loan to buy a house. And the max amount of money this account can hold is 40400 USD.

When I was told about this type of account this week and was encouraged by older people at work to make an account like that I had to do everything I could to not look at them like absolute morons.

I mean what are you gonna do if you fall into an emergency situation and you need that money?

[Jan SobieskiParticipant 28791]

I have 25% of my yearly pay in a bank account. Cash money as long as the bank is in business.

I can take it out and spend it in any thing because it’s cash.

I don’t see the upside.

Love is just alimony waiting to happen. Visit mgtow.com.

[BeerParticipant 11832]

Do you get any kind of tax breaks, special interest rates, or government match or anything?

I’m not familiar with Norway’s laws at all but there has got to be some benefit to it, and it might not be that bad to put a little money in if you planned on buying property in the future anyhow.

[ProjectParticipant 507]

Well you get about 600$ back if you put the highest ampunst, but here is the thing one apartment building costs around 1.5million nok and you have to have 250K of that if you want the bank to give you a big enough loan to buy it and when you buy it you would be 28 year old when you have saved up enough in that account. The only benefit I can see is that you get lower rent on the loan but nothing else.

[survivorParticipant 610]

Yes indeed young MGTOW brethren: Cash in a safe place that only you know about. And don’t tell a single breathing soul about it. You will never ever regret it. The peace of mind it brings is amazing. It could be a literal safe in a wall or just an envelope stashed away in a large book or somewhere. But by all means save.

"Shot through the heart, and you're to blame, You give love a bad name, I play my part and you play your game, You give love a bad name."--Bon Jovi

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