Reduce your debt before buying a home

Reduce your debt before buying a home

Savings
Reduce your debt before buying a home Whether you're moving home, there's a good chance you'll need outside financing to obtain it. However, as many homebuyers have learned, now is the time to try and reduce your debt before purchasing your home. Here are some ways you can reduce your debt. As well as, increase your cash flow and achieve a low debt-to-income ratio before buying a home. Fix your credit report While you might not put much thought into old information on your credit report, lenders do. Appearances matter on your credit report and multiple addresses can give off the impression that you're financially unstable. Even if a potential borrower doesn't find any errors or discrepancies on their credit report. It's good for them to get in the habit…
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The Main Difference Between Investment and Savings

The Main Difference Between Investment and Savings

Savings
Investment and savings are usually used interchangeably because of their similar end goal. They are useful tools for financial security in future. The two are however completely different financial actions. Savings will involve laying away part of your disposable income for use in future. This can be carried out at home or through one of many different savings accounts. Savings usually cover unexpected emergencies and large expenses such as college education expenses. On the other hand, investment refers to money that has been committed to a risky opportunity for future appreciation of value or generation of income. The investment will require a capital, cash or savings outlay on an asset that will result in financial growth.  Investment can range from jewelry, bonds, stocks, real estate and other similar ventures. Any…
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