COURSE INDEXPreliminary Questions
Home Buying Start & Registration
Budgeting To Buy a Home
Find Your First House
Inspect Before You Buy
Shop For a Mortgage Loan
Home Mortgage Loan Process
Credit Score and Credit Report
Home Mortgage Loan Closing
Being a Home Owner
Mortgage Quote Request
Get Started Below!
Our daily lives have become so busy that the American family is generally accustomed to "buying" rather than "shopping". When we do not take the time to shop for the best value, generally the cost is higher. This buying mode has made many of us "impulsive" spenders.
An impulsive spender is one who purchases an item without giving any thought to the significance of the purchase. It may be that you see an item marked "On Sale" and buy it when you don't even need it, or because you don't understand your liquid conversions or weight conversions you overpay for what you do need. Perhaps you use so much money on things you want you do not have enough left over for things you really need. A family that develops this type of spending pattern is less likely to save money. The family lives from paycheck to paycheck. Sometimes that paycheck does not stretch far enough, and then it becomes, "borrowing from Peter to pay Paul". Even if there is a desire to buy a home of their own, it seems out of reach, because they don't have the money for the downpayment or closing costs.
We want to help you understand your own spending habits and give you guidance and tools to work with to accomplish your dream of owning your own home.
Are you a "buyer" or a "shopper"?
There is a simple technique to help you control impulsive spending and better manage your money. This simple technique is called: "Budgeting your money!"
What does "budget" mean to you?
Now, let's talk about ways to help you look carefully at your "real" spending habits and discuss "budgeting".
Some of you may already by familiar with the budgeting process or how to budget, but others may not understand the concept of a budget. A budget is simply a plan for spending and saving money.
In the corporate world, companies MUST budget their income properly to make a profit and keep their spending in line with the income the company receives. These budgets are generally prepared annually, with quarterly and sometimes monthly reviews.
The budget provides a direction for the way company money is to be spent. By budgeting, a company can realize a savings of money which results in a profit that can be distributed to the investors/stockholders, as dividends.
In a family or household, a budget generally includes your salary and expenses and needs to be reviewed and adjusted more often than quarterly. A monthly plan and review is recommended. For some of you that are just learning to budget, a weekly plan and review may work best.
To bookmark this page, RIGHT click here.
AOL and Internet Explorer users choose "Add to Favorites..." Netscape users choose "Add Bookmark."
Table of Contents | Homebuyer Course Start Page | Find A Realtor | Budgeting To Buy a Home | Neighborhoods | Find Your First House | Inspect Before You Buy | Shop For a Mortgage Loan | Mortgage Home Loan Process | Credit Score and Credit Report | Home Mortgage Loan Closing | Being a Home Owner
© 2007 Financial Firebird Corporation