On the Better
Side of Life
Before you can make the transition from renting your home to owning your home, you will need to have a substantial down payment, typically 5 to 20 percent of the home’s value. First Reliance Bank suggests the following tips to help save for it:
Develop a budget & timeline.
Start by determining how much you’ll need for a down payment. Create a budget and calculate how much you can realistically save
The key to a good budget is including as much information as you can, so that you can adequately prepare and plan. It's important to keep accurate records of your spending so you'll spot places where you can save money and know how much you can reasonably spend.
More than 70 percent of college graduates began their career owing more than $37,000 in student loans in 2017. Considering the additional living expenses they’ll soon face, new college graduates would be wise to focus on their financial future right now. We have highlighted six smart financial decisions college graduates should consider to position themselves for financial success as they embark on their next phase of life.
The habits new graduates develop
“I want that!”As a parent, you have probably heard your children make that statement more than a few times while shopping or watching television commercials.
Children understand the power of spending money long before they grasp the concepts of earning, saving, and investing. So, in order to build a solid financial foundation, it’s important for them to understand the difference between needs and wants.
Needs are things you must have in order