Tip #1: Budgeting

a.     Assets – what do you currently have?

1.     Long term: Bank accounts, investments, equity… etc.

2.     Short term: Monthly revenues (salaries, payouts, dividends…)

b.     Debts – What do you currently owe?

1.     Long term: Mortgage, loans, leases…etc.

2.     Short term: Monthly expenses (Bills, maintenance costs, living expenses, tax, insurance…)

c.      This evaluation can be done on your own, or preferably with a financial advisor (more accurate).

Note: if done with your Bank (financial advisor) you can also attain an exact amount for mortgage approval – then you really know what you’re working with!


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