A new year means a fresh start, a time to turn the page. While you're looking to make improvements or changes, why not consider your finances, especially if you are beginning the process of buying a home in the Asheville area.
via Movement Mortgage
Make 2014 the year you get your personal finances organized and under control.
Just by paying closer attention to your money flow, you can increase your
savings, improve your investments and keep your spending within your
means.
Track it. If you know where your dollars are
going, you can control them. Using one of the many financial software programs
available makes good sense when you're trying to see how you spend and track
your habits. Many programs will show you the percentage of your cash that goes
into different categories, such as home maintenance, entertainment, and
groceries. Some banks also offer this service in your monthly statement or
online. Be sure to hold on to receipts to match them against transactions on
your credit cards, and balance your checkbook regularly. See where you can cut
back and resolve to do so!
Review investments and accounts. If
you have investment accounts, you can often speak to an advisor at no cost. But
even better, take that extra step and hire a financial advisor. A professional
can really help you drill down on how to maximize your savings, prepare for
retirement, and really make your money work for you.
Take a look at your
savings and checking accounts. Do you pay a monthly fee? What can you do to
eliminate that? IF you can save money every month just by keeping an extra $100
or so sitting in your savings account, or by signing up for direct deposit, go
for it.
Don't forget your insurance accounts. Call your insurers to see
if you're eligible for any discounts as a loyal customer, or for having had no
accidents in the past year. Get quotes from competitors to see if you can do
better. Review your deductibles or consider changing your payment schedule — you
may be able to save a little by paying biannually rather than monthly.
How about a refinance of your home or auto loan? Interest rates are
amazingly low these days. You could potentially save hundreds of dollars each
month!
Plan for the future. It's never too soon to open a
retirement account or pay into a 401(k). The earlier you start, the more you'll
have when it's time to stop working. If your company matches your 401(k) and
you're not taking advantage of that, you're actually throwing free money away!
In addition, you should prepare your will. No matter what your age, setting your
affairs in order can bring great peace of mind.
Cut down and
consolidate. There are many ways to do this! Physically de-clutter by having
a yard sale or hawking your items on eBay or craigslist. You will earn a little
cash and clear out the stuff you just don't need anymore. Try to move your bank
accounts to one establishment, especially if you have several savings or
checking accounts scattered at many, so you don't lose track of money. And
finally, consider donating your time this year, instead of dollars. You can
still get a write-off (consult the professional we mention above to learn more)
but you'll also get added satisfaction from really seeing how you can make a
difference.
Your physical health is critical to your overall well-being;
it's important to recognize that your fiscal health is just as important. Be
sure you're setting aside time regularly to track your bills, review your
statements and keep an eye on your cash. You'll have an easier time developing
and sticking to a budget, and the reduction in stress can only contribute to a
fantastic 2014!
Movement
Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement
Mortgage, LLC is licensed by the “State of North Carolina Commissioner of Banks”
Lic # L-142670. Interest rates and products are subject to change without notice
and may or may not be available at the time of loan commitment or lock-in.
Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a
registered trademark of the Movement Mortgage, LLC, a Delaware limited liability
company.
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Ready to begin the process of getting pre-approved for a mortgage? Click
here to talk to a lender, and call us when you are ready to begin the home buying process.
The Puffer Team, Keller Williams Professionals, 828-771-2300,
www.homefinderasheville.com
