Will you be saving or spending this holiday season?

Mortgage and Lending with Bay Equity, LLC 770-634-4021 NMLS #206275 GA 25689

Will you be saving or spending this holiday season?  I can hardly believe that we are only weeks away from Thanksgiving, then Christmas and 2014!  While we are all working on business plans for the next year, I encourage you to also make a spending plan for the holidays too.

All too often we get caught up in the moment buying decisions, then January comes around and everyone has a bit of a panic attack when they open their credit card bills.  Don't fall into this trap!


Write down everyone for whom you will be buying a gift.

Set a dollar limit for each gift - then stick to it!


Are you hosting a party or dinner for friends or family?

Are you invited to parties?


This is even more critical if you are in the process, or thinking of purchasing a home.  A change in your credit card balances may impact your debt to income ratio.  Remember, your credit will be reviewed throughout the process.  You don't want your dream home to slip away because of excessive spending during the holidays.


Here is a series of blogs I wrote earlier this yeat about budgeting and managing finances:

Every Household Should Have a Budget - Getting Started

Every Household Should Have a Budget - Step 2

Every Household Should Have a Budget - Savings

Every Household Should Have a Budget - Checking Account

Every Household Should Have a Budget - Life Insurance


Every Household Should Have a Budget - Auto Insurance Policies


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Kathy Sheehan Senior Loan Officer






Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988



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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.



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Rob D. Shepherd
Windermere/lane county - Florence, OR
Principal Broker GRI, SRES

We have never been much of a help for the economy at holiday time. At our age we have all the crap  we need.

Nov 06, 2013 10:49 AM #1
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Great series  'Every household should have a budget'

Excellent reminder for those purchasing now or in the  new future.

Nov 06, 2013 10:50 AM #2
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

Rob and Margaret, thanks for the comments. 

Nov 06, 2013 10:52 AM #3
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

And this is very good advice to your clients as a mortgage professional.  The budgets can help with saving for down payments, closing costs, and that's a gift to oneself any time of year!    What a fabulous series.

Nov 06, 2013 12:32 PM #4
Carla Harbert
Full Time REALTOR in Ohio - Brunswick, OH
RE/MAX Omega, Brunswick Ohio

I am planning on giving more to my family this year... especially items of need - I've cut back the past 3 years and finally this year, I can do a little more for them.

Nov 06, 2013 12:55 PM #5
Anna Banana Kruchten - Phoenix Homes Sales
Phoenix Property Shoppe - Phoenix, AZ

Kathy great reminders, especially at this time of year.  Personally we're not much into the big gift giving thing, meaninful gifts - yes!

Nov 06, 2013 01:42 PM #6
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Kathy - excellent advice.   Very good to way to showcase why proper and realistic budgeting is so important in achieving your goals.   

Nov 06, 2013 05:23 PM #7
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

Thanks Carla!

Carla, glad you have a plan!

Anna, I agree with you!

Michael, I appreciate the kind words.

Nov 06, 2013 10:19 PM #8
Suzanne Otto
Six Twenty Designs - Lansdale, PA
Your Montgomery County PA home stager

People think because Christmas or the Holidays only come around once a year, it's okay to splurge. You just explained why that is not a good validation for overspending!

Nov 07, 2013 12:18 AM #9
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Kathy Sheehan

Senior Loan Officer
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