Making a budget for home expenses is one of the first steps a new homeowner should take. While the extensive planning and budgeting for closing costs and buying the home might be over, your new financial life at home has just begun.
To help you get started, here is a basic guide to creating a budget for your home expenses:
Make note of any financial goals you hope to achieve and when. For example, you might have a goal of paying off your mortgage early, or financing a major renovation project.
Track your spending for a month to identify the details of your cash outflow. Make sure to include fixed expenses like subscription services and your monthly mortgage payment. Varied expenses, like entertainment, maintenance costs and transportation should also be included at least in estimation.
Find your exact income amount by identifying all possible sources of money. This could include regular employment as well as gains from selling or renting any assets. Use your net monthly income rather than gross monthly income to account for taxes.
To find a basic budget, simply subtract your total monthly expenses from your net income. The formula is: net income - total monthly expenses = budget.
Depending on your results, adjust your goals and habits accordingly. For example, you might want to change your spending habits or put aside more money into savings for an emergency fund.
These are only the basic first steps to creating a household budget. You can use this process as an example for building your own budget and managing your finances in your new dream home.
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First Albert would like to thank you for the opportunity to offer his services.
Albert originally from New York City enlisted to the U.S Marine Corps from 1992 to 2004 receiving the Navy & Marine Corps Achievement Medal Combat Valor serving in the Iraq War and earn a Bachelor Degree in Business Administration from University of Hawaii. Started getting involved in the Real Estate business from 2004 to present as a full time agent. Albert have found home owners and buyers really want two things from their REALTOR®, Executive Service and Results....
Albert specializes in the Los Angeles County, Ventura County and Orange County area and licensed in California. His services include being bilingual in Spanish, making it a point to keep his clients well informed at all time.
Albert vision of commitment is based on hard work, tireless determination, and a genuine love of helping people reach their goals with a successful tenure in the real estate industry. Albert know by sharing a strong work ethic, a tireless drive to succeed and a dedication to achieving goals, that anything in life is possible. For Albert, it is a Matter of Duty.
Albert's skills are Excellent Communication, Great Analytical, Critical Thinking ( thinking outside the box), Problem Solving Abilities, Strong Time Management, Organizational, Public Speaking, Negotiator, Team Player, Technology User.
That way, when you do meet, Albert can place his full concentration on your special needs and what's most important to you and your family. Together you and Albert will work as a team.
Albert is really looking forward to the very special opportunity to serve you in your Real Estate needs.
When the time comes for your next Real Estate decision, give Albert a call for a FREE consultation. You'll be glad you did.
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