3 Financial Habits to Break Before Buying Birdland Pleasanton CA Homes
According to studies, only about 8% of Americans are able to fulfill their New Year’s resolutions. Due to a lot of different factors, people make various decisions that ultimately sabotage the goals set for the year.
If your goals include saving money and buying a home for sale in Birdland Pleasanton CA this year, then here are some bad financial habits you need to break that might just be costing you your dream home:
Bad Habit: Not monitoring your credit report.
Resolution: Order and study your reports meticulously.
According to the Fair Credit Reporting Act (FCRA), the nationwide reporting companies Equifax, Experian, and TransUnion are required to provide you, upon your request, a free copy of your credit report one every 12 months. With this, you can check your report for any inaccuracies that might cause your credit score to suffer.
Keep in mind that your credit report will be one of the things that lenders will thoroughly review to determine whether you qualify for a mortgage and how favorable your interest rate and monthly payments would be on your Birdland Pleasanton CA home for sale.
Bad Habit: Saying yes to someone else using your credit.
Resolution: Offer another way to help without risking your financial health.
We’ve all been in a situation where a family member, relative, or a close friend will ask you to co-sign a lease or a loan for them. While it might seem like a simple request with little effort on your part, think about how it can affect your credit if they make late payments or ultimately default on the loan.
With your name on the loan, your credit score will be affected based on their activity. Unless you’re more than financially able to take over all their payments if they default, don’t agree to co-sign anything.
Offer them other ways to help them establish or build their own credit line such as taking a financial health class together or even just explaining to them how the credit system works.
Bad Habit: Making too many financial decisions.
Resolution: Automate as many financial-related concerns as possible.
On payday, you might be torn by all of your different financial decisions: How much should you put in your savings? How much should you allot for your daily living budget? Is that enough? Should you add more?
While choices are a welcome retreat for other aspects in life such as buying houses for sale in Birdland Pleasanton CA, your financial health should not be dependent on your unstable decisions about your monthly paycheck.
To help minimize these decisions, take a long hard look at your financial status and determine how much you want to save so you can buy your dream home. With each paycheck, pay yourself first via an automatic transfer to your savings account and using what’s leftover to pay for your daily living expenses.
Start the new year right by kicking these bad credit habits and resolving to make better financial decisions. Soon enough, you’ll be living in your dream home. If you’re looking to buy or sell homes in Pleasanton CA, visit http://RhondaFee.com.
If you are looking for a Pleasanton CA REALTOR® who can help you sell or buy your dream luxury home, call me, Rhonda Fee, at 925-200-0827. You can also text 925-660-7110 with any of these codes: seller411, buyer411 or homesearch. With my extensive experience and knowledge of the Pleasanton luxury real estate market, combined with a track record of satisfied clients, your next transaction will be the best move you’ve ever made!
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