September is here, the yellow school buses are on the road and the recreational football season is under way. As the leaves begin to change color it is a good time to think about Real Estate. Here are some areas and some questions to get the process started. The F's that we will be talking about this month are Finances and Fitness.
Finances
Do you have a budget?
Most folks don't have one written out. Everyone has expenses and bills. The idea of a budget is to have you put on paper all of your income and expenses. This way you can spend your money on paper and on purpose. Unfortunately, most folks don't do either. Remember, ignoring something will not make it go away. When you have a budget, you can spend your money on what you feel is most important. When you don't have a budget, you may find yourself spending money on things that you can't even remember.
First, make a budget. There are plenty of free websites that will help you. www.DaveRamsey.com has some great free tools.
Second, stick to it. In this economy, everyone has had to tighten their belts. Numbers don't lie, you may be surprised at what you don't need to spend your money on.
Whatever your financial situation, don't be disheartened. Sometimes putting all this information on paper seems overwhelming. If you are spending more than you are bringing in something needs to change. Spending that is out of control can lead to financial ruin.
In our practice we meet many families that have had their financial situation change on them. Perhaps they bought a home a couple of years ago (at the peak of the Real Estate Market). Both spouses were working and they had their budget under control. Through no fault of their own, one of the spouses got laid off and now is unable to secure work. Losing 50% of your income can cause a budget to be turned on its head. For a few months they get by on savings, then by borrowing from credit cards, eventually they can't find anyone else to borrow from, so they begin to miss their mortgage payment. At this point people are typically going through a multitude of emotions... denial, fear, anger and shame (to name a few). Don't go through this alone. Get in touch with professionals who can help you.
When the above situation goes on long enough, it becomes harder and harder to dig out from the hole that you are in. Selling your home may be an option. You will need to do whatever it takes to right your financial ship. There are many concerns that people have in this current market.
- We owe more than our home is worth, we can't sell.
- We have no money to pay a Realtor.
- The market is terrible and it is impossible to sell. (We have a friend who has had their place on the market for over a year and can't sell).
All of the above concerns are not necessarily true. We have helped many homeowners who have been in this situation successfully sell their home.
Fitness
How do you feel about how you look? Could you stand to lose a few pounds? Making time to eat right and exercise is as important as anything else that you will do. Eating right and exercising will also give you more energy. Everyone could use a little more of that. Set some attainable goals to get moving in the right direction. If you aren't doing anything now, start with eating three meals a day and going for a short walk each day. Something is better than doing nothing. Remember, exercise is also a great way to relieve stress!
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