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organizing your personal finances to find extra money

Sometimes financial problems can be solved relatively easily. I was struggling to make it from week to week until I learned that some financial organization could change my spending habits. If you can organize your personal finances, you will see exactly where all of your hard earned money goes. You will be shocked to see how much the morning coffee and donuts cost you each month. This blog will provide you with information that can help you get your personal finances organized so that you don't have to continue struggling from paycheck to paycheck throughout each and every month this year.

organizing your personal finances to find extra money

Tips For A First Time Home Buyer

by Clémence Moulin

Looking for your first home is very exciting. Going house to house and imagining yourself living in one of those homes is a part of the fun of buying your first home. You have to remember when shopping around to be realistic about your budget. You may be pre-approved for a larger amount than you can actually afford, and you need to remember this. Don't stretch yourself too far, where all you can afford is your mortgage itself and nothing else. See below for other tips if you are a first time buyer.

Find A Good Realtor

Ask your friends or relatives about realtors they may have used. Find a realtor that you can work well with and shows you homes that are in your price range, not over your budget. Make an appointment and look at homes together. 

Do Your Research

Look at homes on-line in addition to looking at homes with your realtor. If you see one you like on-line, ask your realtor to take you to see the house. Research the neighborhood on-line and in person. Look at the parking situation, research schools (if you have kids, or plan on having some one day), also look at the neighborhood on a weekend to see if there are a lot of parties happening. You may love the house, but it would be terrible to find out the neighborhood doesn't suit you.

Keep An Open Mind

Your first home may not be a brand new house, and may need some work. Keep this in mind when looking for your home. If the house just needs wallpaper removed, new paint, and flooring, that isn't bad. If it needs a complete over-haul, you may want to pass, especially if you don't have the money to put into doing the work. Renovating a home takes quite a bit of work and money, so if that doesn't sound like something you can do, keep looking.

Shop Around

Shop around to different mortgage companies to get the best rate possible. You can make calls once you have a home picked out to mortgage companies in your area. You don't have to go with the mortgage company that pre-approved you, you can go anywhere you want.

Understand Costs

A mortgage isn't just the cost of your home. Your mortgage may also include home insurance costs, taxes, interest and possibly a private mortgage insurance cost. Be sure to read through the fine print and don't be afraid to ask questions if you have any. You want to be sure you know ahead of time exactly what you are paying for, why and how much your payment will end up being. 

Buying your first home can be exciting,  but it can be a big wake up call too. Be sure you are prepared for and understand what you are getting yourself into before signing on the dotted line. For more information, contact companies like McHenry Savings Bank (Member FDIC and Equal Housing Lender).