Introduction to The Finance Corner

We’re at a time when the economy is low, jobs are scarce, and the things we use to depend on such as social security are not a sure thing for us in the future. As young adults we need to be smart about the decisions we make at this point. Although the economy is down in many areas, there are ways to take advantage of it; hence the Finance Corner. The purpose of the Finance Corner is to shed light on little things that we can do to secure our lifestyles now and in the future. Most of us are struggling in our finances because of the decisions we make, and these same decisions that we make now can alter our future. There are ways to have fun, be young, and explore without being constantly broke. Hopefully the things you see talked about in the Finance Corner will help you save a few bucks, or at least consider some future ideas. So let’s start with Homeownership. I know it’s a big one.

Unless you’ve been in a cave these past few years you know that many houses have gone into foreclosure or people have simply been kicked out because they can’t afford their mortgage payments. As sad as the situation may be for that person or family, it can work to your advantage. Prices for houses are at an all-time low. If you are in the position, it would definitely be in your interest to invest in some property.  There are many programs and incentives for first-time homebuyers. Add that together with low interest rates and closing costs, you could come out pretty decent in expenses. Remember: The economy is at its lowest point right now, and when something is this down, it has no way but to go up. So that property that you bought a few years ago that was dirt cheap could suddenly be worth a whole lot more in a few years,; so if you want to sell that property, it can go towards a bigger house, or another expense that you need taken care of. So since this is the first installment I’m not going to make it extremely long, so I’ll end this one with some main points and then in the next installments I’ll get to the stuff that most of us can actually afford to do right now lol.

v  Take ADVANTAGE of the low prices in the economy.

v  Check around for first-time homebuyer incentives, they usually give you a few thousand just because this is the first house you’re buying.

v  Make wise decisions, don’t just jump for the first house you like, look around for the things you like and continue until you find a house that suits most of your needs.

v  Don’t go beyond your price limit. That’s how some of these people got into the situations they are in now.

v  Plan out your payments to see if a certain amount is feasible to pay every month without you eating canned beans for dinner.

v  Location is key because if a property is really cheap and there’s really no reason as to why it is, you might find out when your car gets broken into. LOL this one is just a guess. Seriously, location is important because it is one of the determining factors in the increase the house’s all around property price.

The economy will bounce back….eventually. Make sure you’re the one riding the top of that money wave.

T.L.C. aka The Management

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