Do you know how to #Budget your paycheck to save for a #DownPayment for your home? You do not have to be meticulous to budget. It actually can be a little game, so lets make it fun! Budgeting not only for your home’s down payment but for emergencies can be so beneficial. Yes, it can be easy and here’s why you should make one. Let’s have a plan for your #Money
The hardest part about making a budget is getting started. Once you have it started, it’s very simple to up-keep month to month so tweak as you go and progress by starting!
Step 1: Establish your income – How much do you take home 📝 in a month? Write down what you take home whether, bi-weekly, monthly, or weekly. Do you have irregular income? Average your irregular income for the past 6-12 months. Write the amount $ down. Whatever excess, YOU get to choose to either save it OR put it in the fun money pile.
Step 2: Regulate your set expenses – Figure out your bills + foods + expenses + impulse buys + ☔️sinking funds
Step 3: Do you want a per category spending amount? Gas, food, fun, etc..
Step 4: What is left? – (take your income minus expenses) – the remainder can go towards your down payment fund! 🙌🏾
Even if you make $25,000 a year or $250,000 a year, having a budget matters. A budget is basically a blueprint for your money. Your money will not work for you, if you don’t tell it where to go.
I recommend using pencil and paper for your first budget. The magic about writing it down makes it hurt so real (all the brunch get-togethers LOL!. ) Once you get into the flow of things and understand what budget style fits you, then you can switch to a spreadsheet or an app. Ive been personally using a spreadsheet and mint.com since 2007 (spreadsheet probably even longer) and its worked so well for me. Mint.com allows you to sync all of your accounts onto their system for a one stop shop monitoring. They also have a goals option where you can set up to save towards a vacation or a wedding or YOUR HOME.
Thank you for reading!
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JUDY HA
Blackrock Investments and Finance, Inc.
direct (951) 963-4023 | cell (626) 731-4485 |fax (626) 529-0850
email realtorjudyha@gmail.com | web http://www.realtorjudyha.com
CA DRE: 01884583
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