Saturday, April 8, 2017

Your Money Can Be Where You Need it Most









Money is one thing in life that can stir up a love / hate relationship.  We want to save it for special things like a vacation and we hate it when unexpected expenses creep up, or when there isn’t enough of it.

Aside from doing 100 small things to save money, a little planning can make money go a long way. Below are key areas to consider.

Recurring Home Expenses like the mortgage, utilities, lawncare, trash collection, phone, internet, taxes, and other home property fees are part of the regular budget.

One of the most critical things to include in any budget, whether you are a home owner or not, is the Emergency Fund. That alone saves us from unexpected costs like medical bills or an income loss. In fact, it is recommended to save three to six months of monthly expense coverage.

You will also want a Home Maintenance Fund. This too can help with the unexpected costs like a plumbing repair. After all, as a home and the contents within it age, replacement and maintenance needs will arise. The appliances – washer, dryer, refrigerator, stove, etc. will wear out. Plus, the components that keep our home dry and comfortable, like the furnace and roof, will become too old over time to fulfill their purpose.

Look at this article filled with practical ways to estimate the budget for home maintenance.

Other primary categories to allocate in the budget include food, pets, education, clothing, medical, vacation, and be sure to include a little fun. If you are looking for budgeting ideas, here is a resource.

Your Flooring Consultant For Life,

       Matt Capell
       President of Capell Flooring and Interiors
 

  P.S.... Continue reading this month's copy of the Neighborhood Advisor - by clicking the link below. Be Sure to Enter the Mega Trivia Contest - for a chance to win a Free Gift Certificate to a restaurant of your choice.  See past winners and archives here in case you missed an issue. 

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