The Second Step To Financial Freedom: Home Ownership

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Spring cleaning is a tradition that allows us to freshen up our homes and get a head start on the hectic seasons of spring and summer. It is also a time to conduct maintenance on your home. Although these chores only need to be done once or twice a year, they could save a distinct amount of money by taking care of the little things before they become a bigger problem.

You’re better off considering your house payments as a percentage of your gross income. Lenders like to see that your house payments are less than 28% of your gross income and your total debts less than 41%.

This is going to include any alcohol, dining out, movies, concerts, and anything else you do in your free time. This needs to be a part of your life and your budget, but should never exceed more than 10% of your income. If you are not saving at least 10% of your income, then your entertainment needs to be cut to make sure you are saving. There are many free things you can do if you get creative and you look around your city.

If the metal roofing is installed within the year 2010, there may be an additional $1500.00 tax credit and you may also get a discount on your home insurance plan policy as well. This will be something you need to check into with your insurance company. And your local roofing contractor should be able to tell you what needs to be done for you to receive the tax credit.

A.Depreciating assets are necessities or luxuries – maybe both. In most geographical locations, a vehicle is a necessity. Does your vehicle meet your transportation needs or does it satisfy a desire?

Also remember that you can have your http://floodinsure.wordpress.com added to your mortgage payments in some cases. You’ll want to factor this in when figuring out how much you can spend on a house.

The insurance company settles RC claims by issuing two separate checks. The first check will be for the ACV amount. According to the Loss Conditions in the policy, the insurer only pays you the RC of your contents once the replacement has been made.

In other words, one must learn to live within their means and when that “means” includes a home mortgage. You have to limit your housing costs to no more than 30% of your gross income if you want to achieve financial freedom sooner rather than later.

Dog bites are responsible for 33% of all liability claims and cost insurers more than $1 billion yearly. This should bring to your notice that if you have a dog or dogs your rates will be much more than for someone who does not. If you can, don’t keep dogs or do your best to restrain and position them in such a way that they won’t be able to do hurt anyone. Your agent can help suggest steps you can take in keeping your dogs that will result in a discount.

Once the tax is sorted, you might decide that you need an accountant to help you file your tax returns as they become due. Keeping the correct records right from the start instead of going to an accountant at the end of the year with a pile of receipts could save you a lot of money in the long run. Even just approaching an accountant and discussing what you will need could be a good starting point.