"The most important covenant we prepare for is being sealed in the temple"

Tuesday, June 14, 2016

Homeownership at its finest

Being homeowners is one of the best decisions we have made.  It is actually fun to spend money on our house and fix it up the way we want to; and Although our AC unit has gone out twice in the 1 month that we have lived here, we are grateful to have a home warranty. What comes with homeownership is a bigger financial responsibility, and that is why Eric and I have talked about some of the ways we can remain financially fit as we figure out how to better manage our financing as new homeowners. Before we bought our house we were living at Eric's Grandparents house and they let us live there for very inexpensive, so we were able to save a bunch of money. We were also able to open up a few credit cards so that we could build up some credit.  Opening Credit cards can be kind of scary. It leaves you open to getting yourself in a lot of debt, but Eric and i decided long ago we would only use our credit cards for necessities. We use our credit cards to pay our bills, and we always pay them off every month. Determining what credit card to get can be stressful in and of itself  but Credit card insider can help you with that. I love credit card insider because they help you understand what credit card is best for you and what kind of rewards you want. They also help you understand the benefits of having a credit card and how to easily manage it so that you  don't get yourself into a ton of debt. They have a question and answer YouTube page, but they also have a website which you can find  here. If it is your desire to own a house, my suggestion to you, is to live as cheap as possible. I was given some advice by one of my cousins and she said "you should always pay double your mortgage" and what I took from that was pay your rent and then double what you pay by putting it into savings. We started doing that and we had money saved up in no time. We also knew that when we did buy a house, we would know what monthly payment we could comfortably afford, and since moving into our new house we have been able to double that number again and put the rest in savings. Being financially smart can bless your life and help you live a more carefree life. Set a budget for yourself and stick to it!! Examine your bank and account and see the unneccassary things you spend money on, and cut them out of your life. Cutting out little things like going to lunch everyday instead if bringing your own lunch to work can help you save TONS!! Eric works for Wells Fargo so he has set up a lot of other little ways to help us save as well. Wellsfargo has a way2save account that allows you to set the boundries. For instance, our ways2save account is set up to transfer  $1 to our savings every time we swipe our debit card.  It's  little things like that, that can make a huge difference. 2016 is destined to be great. I hope you can set some financial goals for yourself and accomplish the things you desire to accomplish. Good luck, and happy savings!!:)