Bud­get checkup for home­own­ers, fu­ture home­own­ers

Cecil Whig - - REAL ESTATE -

— A bud­get is an im­por­tant tool for first-time home­buy­ers and cur­rent home­own­ers. Throw out any neg­a­tive feel­ing you may have to­ward bud­get­ing. We’re here to tell you that bud­get­ing is a great exercise, and can free your fi­nan­cial mind! A bud­get is meant to be a guide to where you should spend your monthly in­come.

Bud­get­ing can mean guilt-free fun. By mak­ing and stick­ing to your bud­get, you can spend money know­ing ex­actly how much you need to set aside for ne­ces­si­ties, and how much you can spend on other ac­tiv­i­ties! Bud­gets are an im­por­tant tool for the first-time home­buyer be­cause it can help you make your move into a home with a pay­ment that

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fits your lifestyle and cir­cum­stances. For ex­ist­ing home­own­ers, bud­gets can help you achieve or main­tain fi­nan­cial free­dom.

Bud­get­ing can be done by any­one — it just takes time ini­tially to set it up cor­rectly. Gather pay­checks, bills and bank state­ments to get started. You can write down all this in­for­ma­tion or use a bud­get tool. Start by cal­cu­lat­ing your monthly in­come, which in­cludes not only the amount you may get from a reg­u­lar pay­check, but also any money you get in govern­ment aid, child sup­port or pen­sions. The next step is to look at your bills and bank state­ments to find out truly what you spend in each cat­e­gory. This ac­cu­rate in­for­ma­tion will em­power you to take con­trol of your fi­nances.

Do you see a sur­plus? That is great! You can take that sur­plus and con­trib­ute to your fi­nan­cial goals, whether that be sav­ing for a down pay­ment, tak­ing a fam­ily va­ca­tion or build­ing a nest egg.

Do you see a deficit? If so, you can make the changes needed to bal­ance your bud­get. You can cut back on nonessen­tial items, like eat­ing din­ners out, to get fi­nan­cially fit. Hav­ing this knowl­edge is pow­er­ful and can help you take the right steps to­ward fi­nan­cial sta­bil­ity.

A bud­get is cru­cial for home own­er­ship, whether you’re a first-time home­buyer or you cur­rently own a home. A sound bud­get can re­lieve stress and help you feel con­fi­dent in the way you spend your hard-earned in­come.

About Van­der­bilt Mort­gage and Fi­nance, Inc.

Van­der­bilt Mort­gage and Fi­nance, Inc. is a na­tional hous­ing lender that spe­cial­izes in fi­nanc­ing man­u­fac­tured homes. In busi­ness for more than 40 years, the com­pany cur­rently ser­vices more than 200,000 home loans and works hard to tai­lor loans to each fam­ily’s needs. Van­der­bilt has an A+ grade from the Bet­ter Busi­ness Bureau and is a Berk­shire Hath­away com­pany. For more in­for­ma­tion, visit VMFHomeLoan. com.

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