All posts by Jennifer Koo

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Budgeting for a Home is Easier Than You Think

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Buying a home is one of the biggest purchases in a person’s life; after all, buying a home isn’t the same as buying a car. It can be overwhelming to think about all the money you need to save for the down and monthly payments, but with a good strategy in place, you’ll be able to save up and purchase a home in due time. Budgeting can be a tricky thing. Not only do you need to be organized, but you need to make decisions on how much to spend and allocate to your savings account on a consistent basis. Once you figure out how much you can put away and how much you can spend, things will handle itself. Here are some helpful tips. Add Up Your Income Learn how much you can spend by figuring out how much money you are bringing in. Add up every source of income you receive each month and once you have that figured out, you will want to make a list of all your expenses. How Much to Allocate 50% of your total monthly income should go into living expenses and essentials. This includes rent, utilities, transportation or gas, and necessary groceries…

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