Читать книгу Home Buying Kit For Dummies - Eric Tyson - Страница 35

Tabulating your spending is only half the battle on the path to fiscal fitness and a financially successful home purchase. You must do something with and about the personal spending information that you collect.

Here, in order of likelihood, are the possible outcomes of your spending analysis:

 You spend too much. When most people examine their spending for the first time, they’re somewhat horrified at how much they spend overall and for what specific things. Perhaps you had no idea that your café latte addiction is setting you back $100 per month or that you spend $400 per month on eating out. Your challenge is to decide where to make reductions or cutbacks. (Check out the nearby sidebar, “Trimming the fat from your budget.”) Everybody who has enough discretionary income to buy this book has fat in her budget (some have much more than others). For most people to reach their financial goals, they must save at least 10 percent of their pretax income. But how much you should be saving depends on what your goals are and how aggressive and successful an investor you are. If, for example, you want to retire early and don’t have much put away yet, you may need to save much more than 10 percent per year to reach your goal.

 You save just right. You may be one of those people who has mapped out a financial path and is right on track. Great! However, just as a cue ball sends a neatly racked set of billiard balls into disarray, buying a home can disrupt even the most organized and on-track budgets. Reviewing what your budget may look like with a home in the picture is important. So if you haven’t already done so, complete Table 2-1 to analyze your current spending and project how it may look after a home purchase.

 You save a lot. Perhaps you’re one of those rare sorts who save more than necessary. If so, you not only may be able to skip doing a budget but also may be able to stretch the amount you spend and borrow when buying a home. But even if you’ve made your financial plans and are saving more than enough, you still may want to complete Table 2-1 to ensure that your financial train doesn’t get derailed.