Just as we have personal goals, and professional goals, we should also have financial goals in life.
Personal goals usually involve how we spend our time with friends and family, health, fitness, reading to grow our minds, learning new skills and hobbies.
Professional goals involve working toward a promotion, getting certified, building a resume, making professional connections.
Financial goals is what this page focuses upon, and includes ways to save for a vacation, make more money, how to budget, how to reduce debt, how to plan for the future, how to be prepared for the worst case scenarios that happen unexpectedly in our lives.
Many of our financial questions, woes, and expectations can be answered and developed through efficiency and organization. If we look at what is coming in and what is going out in an organized and systematic way, we can have more financial control and actually set to meet financial goals in life.
There is a Downloadable page where other checklists and guides can be printed to become more efficient and organized with various aspects of our lives.
Personal financial organization can be achieved! It needs to become a priority, especially if the stress of not being organized is creating problems in the household. Financial organization will lead to
· More efficiency with saved time and energy
· Better mental and physical health
· More productivity
· More wealth
· Stronger buying power
· More savings
· More preparedness for emergencies
· Stable family life
· Allow for more giving and donating
· Allow for more generosity towards others
· Increase happiness
Being disorganized with finances can lead to:
· Unpaid bills
· Not being able to make larger purchases in life and therefore suffering the consequences
· Purchasing of unnecessary items
· Wasted time
· Wasted energy
· Unnecessary stress and unwanted pressure
There are people who lose gift cards and rebates that could save them money. Some experience out-of-control spending that gets out of hand.
It is difficult to sit and look at the financial situation at hand because ignorance can sometimes feel less stressful. Not facing the facts, though, will not solve the problem. In fact, it will create an avalanche effect where the problems will multiply and become unbearable at some point in the future. Having organized personal finances will help relieve stress and help you get on track to success. Organizing personal finances will help you:
· Make better decisions about investment choices
· Help save money
· Decrease debt
· Get out of debt
· Increase wealth
· Improved mental and emotional health outcomes
· Better marriages and relationships
· Save you time
Follow these 20 easy steps and strategies to become more financially organized starting today! The steps and strategies provided are actionable and can help right away.
If you answered YES to any of these questions, this article is perfect for you to keep reading!
Housing prices have soared over the years, but income levels have not kept up accordingly. In other words, if incomes have increased by 5% over the past five years and housing prices have increased by 20%, then it is far more difficult to afford a home based on typical middle-class salaries.
In a June 2020 article on Forbes.com, it was noted that it could take up to 21 years to save for a 20% down payment to purchase a home. The 20% down payment is what most lenders prefer that buyers bring, but because it is so difficult and time-consuming to save, there are some other options. For example, lenders are offering a 3%-down-payment option or a 5% option if buyers qualify. But even 3% or 5% can be difficult to save in a short time.
In June of 2020, median home prices in the United States were at $295,300. To save for a 3% down payment, buyers have to come up with $8,859. A five percent down payment is $14,765. There are other costs associated with purchasing a home. Having just $8,859 is not enough to purchase and get in. There are some costs the buyer is responsible for paying, and lenders typically prefer that you have 3 months' worth of money in your savings or checking account as a cushion.
Are you trying to buy your first home or condo?
Is it difficult for you to save enough money for the down payment?
Are you looking for strategies to save money to take this big financial step in your life?
Do you know someone who is trying to purchase a home but struggling to save?
If you answered YES to any of these questions, this video is perfect for you. It is based on an article written by Ruzanna Hernandez on organized and efficient ways to save money for a down payment.
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