Saving Money During The Silly Season
One of the most common questions that mortgage brokers hear is, ‘how much deposit do I need for a home loan?’
While setting a financial goal is an important part of the home buying process, achieving that objective is the real challenging part - especially during the holiday season.
If you are saving up to put a down payment towards a loan, you must remember to exercise discipline throughout this joyful time, as it can often lead to overindulgence.
However, it is also important not to put your expectations too high - missing the mark can sometimes cause even the most level headed savers to throw in the towel.
Create a realistic budget for presents, parties and holidays - and stick to it!
The freedom that comes along with the silly season can sometimes lead people to splash out on food and entertainment that they normally would not.
Keep your goals in mind as you roam from party to party and try to picture the bills arriving to your house in late January and February when you are back at the grind.
You’ve already worked so hard to get where you are - keep your eye on the homeownership prize as you proceed through December!
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.