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Margaret Crane |
Will Buying a Home Bankrupt Me?Article |
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| Buying a new home can be a money pit, or it can be the best investment of your life. It all depends on whether you’re smart about how you spend your dollars. Just because you’ve bought a new home doesn’t mean that other expenses disappear into thin air like smoke. You still have to eat, pay utilities, medical bills, taxes, insurance, keep up your car, and buy clothing. Budgeting is the key to staying afloat financially. A budget enables you to see on paper the money you need to set aside for fixed expenses such as the mortgage, and variable expenses such as utilities. It also lets you see where that money will come from, such as your salary, bonuses, and savings. It will also tell you if you have money left over each month to invest or make home improvements. |
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Will Buying a Home Bankrupt Me?
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