Do you have money problems? There are some common mistakes people make when planning a budget or trying to sort out their bills. Check our list below of bad financial habits to avoid when trying to take control of your finances. Paying Too Much For Housing Are you overspending on rent or your mortgage? Many people read advice that your housing expenses should not take up more than roughly 30% of your income, but in the 21st century, it’s more … [Read more...]
Buying A Home: Hidden Housing Expenses
I have told many people with ambitions of buying a home to take their time and do their due diligence in learning what it will take to afford and maintain property as an American homeowner. My friends who have purchased their own homes have learned there are pitfalls waiting for if you don’t know where to look. It does not matter if you are buying with a conventional mortgage, a VA home loan, or an FHA mortgage--you'll need to anticipate certain … [Read more...]
How To Buy A House During COVID-19
Do you need to buy a house during COVID-19? I know not everyone has the luxury of staying put during coronavirus--some need to go house hunting, in spite of the risks associated with in-person transactions. But I know many are aksing themselves how to find a new place to live in a pandemic? Fortunately, the housing industry has evolved to help with online closing procedures, appraisals that do not require the FHA fee appraiser to set inside the … [Read more...]
What You Need To Know About COVID-19 Era Credit Reporting
Are you worried about credit reporting and what might happen to your credit during the COVID-19 lockdown? Businesses have been shuttered for two months or longer, millions of homeowners are applying for mortgage forbearance due to lost income, and many struggle to keep up with their monthly payments. What do you need to know about credit reporting during COVID-19? Credit Reporting Is Still Happening The government’s consumer watchdog site, The … [Read more...]
Hierarchy of Savings – What Should Come First?
It can be difficult to establish a hierarchy of savings. What should come first when you are paying yourself? Three basic areas represent parts of your life that need financial attention; your retirement fund, your money set aside for emergencies, and debt repayment. The last one doesn’t sound like you are paying yourself--at first. But debt management is an important part of establishing financial freedom. Emergency Fund: A Savings Account You … [Read more...]