How Can You Afford a New Central Ohio Home?... Learn to Budget

By
Real Estate Agent with Real Living HER

Many people go through life one paycheck to the next and never bother to figure out where their money is going. It's important to know where your money is going and what you can afford if you are thinking about buying a new Central Ohio home.

Here's how to start up a monthly budget that will keep you in the know about where your money is running off to each month.

•·         Find a program you're comfortable using.  Your computer probably came with a spreadsheet program. If you are not used to using one open it up and become familiar with the program.  It's a great tool to use to create a budget.  If by chance your computer doesn't have a spreadsheet program, you can use an online program like Budget Pulse, or other useful online budget systems such as Mvelopes.

•·         Enter your absolute monthly expenses such as car loans, utilities including cell phone bills, and credit card expenses.

•·         Enter your monthly bills that can vary such as food, gasoline, entertainment. These expenses can be changed to help improve your bottom line, but make sure you give them fair limits so you don't cut yourself short on necessities such as food or transportation costs.

•·         Make sure you figure in some savings for vacations and other unexpected expenses that may pop up throughout the year. Trimming your budget so severely that you have no extra money to cover you when something breaks down, or an extra bill comes in is a sure method for disaster and will make you new life in a Central Ohio home miserable instead of the happy time it should be.

Once you realize where your money is going, it's easier to see if you are spending frivolously or strapped to your limits. It is the best way to determine if your dreams of a new Central Ohio home are realistic or not.

If you have any questions about your ability to afford a new home, I can help. Call me today at (614) 273-6406 or email me at Vanessa.simmons@realliving.com

Budget Pulse: https://www.budgetpulse.com/

Mvelopes:  http://debtproofliving.mvelopes.com/

 

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Rainmaker
1,426,461
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

If you were brought up to save, have good spending impulse control, be timid with credit and learn to have fun with recreational that is low/no cost, no new habits need to be learned. In rural America, where money did not grow on trees, this is the norm for survival. Many of these areas have always been in a 'recession" and did not know it, and were not use to spend spend what they did not have in the bank account. Do you need it, do you just want it? There is a big difference.

Sep 30, 2009 07:23 AM #1
Rainmaker
1,459,097
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

Hey Vanessa...where ya been ?  In the counting house..counting all your money...'hope so !

   I had a Prof in college who said if you want to know what your value system is about...look at your checkbook...where does your money go..and just like business...if you fail to plan..you plan to fail..how you get what you want is not just saying CHARGE !  The instant gratification generation is finding that doesn't work well....

Sep 30, 2009 07:35 AM #2
Rainmaker
43,189
Vanessa V. Simmons
Real Living HER - Columbus, OH
Realtor

Andrew could not agree more.  This economy has been a huge wake up call for many of us and basic rules of financial order are being revisited.

Hi Sally and David, just trying to make hay before the Nov. 30th sunset.  Just in case there is no sunshine on Dec. 1st.

Thanks for your comments!

Sep 30, 2009 07:54 AM #3
Rainer
228,109
Diane Rice
Diane Rice, Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - South Holland, IL
SFR, SRES, CNC

Hi Vanessa!  It's good to see you again!  You are right on with this post... as a business owner, we must get back to better practice ourselves in this.  Have a good day, and welcome back!

Diane

Sep 30, 2009 10:11 AM #4
Rainmaker
297,146
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Hi Vanessa, this is great advice. A lot of people never learned how to properly budget when they were younger and are suffering as a result. Successful people make budgets and stick to them. Thanks for sharing this information.

Sep 30, 2009 06:49 PM #5
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Rainmaker
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Vanessa V. Simmons

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