Judy Moore - Barrett Sotheby's International Realty



Posted by Judy Moore on 1/27/2019

If budgeting isnít your thing, youíll be glad to discover that itís quite simple. Thereís a way to categorize your spending and save money easily. If you learn the rule, it will become so automatic that you wonít even think about it. If youíre saving money for a home, this practice will be essential. Break your budget down into three categories: 


  • Living expenses
  • Financial goals
  • Personal spending


Half of your budget should go towards living expenses. This number includes all of the essentials like rent or mortgage, utilities, groceries, commute costs, and insurances. 


20 percent of your income should go towards other financial goals like savings, investments, or paying down debt. Credit card bills, student loans, and other bills would fall under this category. This category is also where youíd save for your down payment, closing costs, and other expenses. This percentage can be adjustable depending on how much debt you have or how much you need to save for retirement. 


The remaining 30 percent of your income can go towards personal spending. This category includes everything that you use your money for but isnít a necessity. This percentage is also flexible. If your lifestyle doesnít require you to use all 30 percent each month, you can indeed save more money.


A Clear Plan 


These categories simplify your budget. Even if you make some adjustments to the numbers, the outline truly makes budgeting easy even for the most scatterbrained among us. It allows you to see where your money goes clearly. It also works no matter what kind of living situation you have.


The great thing about this budgeting plan is that you have some future needs built into it. Many times, when we budget, we think of our immediate needs and our shorter term goals. Saving for any occasion can never happen too early. You are able to not only focus on your current goals and the future.   



Steps


First, determine your monthly income. This number is how much money you take home after taxes. From here, youíll be able to split your money into categories by percentages. If your income fluctuates frequently, youíll need to take an average of your monthly income to determine your numbers. 


Next, you should take a look at your spending habits. These include everything from your morning latte to your monthly rent payment. From here you can make adjustments. Perhaps you need to look for a less expensive apartment. Maybe you need to cut down your weekly pizza to a bi-monthly purchase. Whatever you see in your finances, a simple percentage rule gives you the tools you need to become a saver and be well on your way to the purchase of your first home.     





Tags: budgeting   saving money  
Categories: Uncategorized  


Posted by Judy Moore on 7/1/2018

It's amazing how one piece of carefully chosen, strategically placed furniture can drastically improve the look and feel of your kitchen, living room, or any other space in your home.

While it is very satisfying to pick out furniture that delights you every time you look at it, furnishing and decorating your home can take a big bite out of your budget. What many homeowners don't stop to consider, however, is that it is possible to get good deals on nice furniture without depleting your bank account.

Here are a few strategies for accomplishing that.

  • Take advantage of sales, discount coupons, and closeouts. When a furniture outlet advertises that they "will not be undersold," it's often worth your while to stop over and take them up on that offer. First, however, it's necessary to know what the competition is charging for the same or very similar furniture. Once you're armed with that information, you're in a good position to pay the lowest possible price. Like any type of shopping, comparing prices will save you money.
  • Dispense with your aversion to negotiating. Have you every heard people say "I hate negotiating" or "Negotiating makes me feel uncomfortable?" Are you one of those people? For whatever reason, it's a mind set many people have. The disadvantage of thinking this way, however, is that you may be missing out on chances to save hundreds, if not thousands of dollars a year. When you add up the savings and realize all the worthwhile ways you can use that saved money, you may reconsider your position on practicing the art of negotiating!
  • Estate sales can potentially be a great source of good quality, reasonably priced furniture, and sometimes you can stumble upon incredible bargains. For obvious reasons, your ability to negotiate the best possible deal increases as the end of the sale approaches. When you play the "waiting game" or tell them you'll come back later or tomorrow, you do run the risk of someone else snatching up that great dresser, coffee table, or antique lamp you had your eye on. Waiting can be a gamble which sometimes (but not always) pays off. There's also an art and science to getting the best deals at antique shows, but effective bargaining requires the right mindset, a little knowledge, and plenty of practice.
  • Attending garage sales can also yield great bargains and unique finds. Homeowners holding garage sales are often motivated to liquidate their old furniture --especially if it's a moving sale. If you've ever held a yard sale, yourself, you know that the last thing you want to do at the end of the day is to haul unsold furniture back to the house when the sale is over.
With a little research, friendly negotiating, and patience, finding great furniture for the right price is an attainable goal.
 





Posted by Judy Moore on 12/4/2016

These days keeping track of your money can be a hassle. Between all the different ways you can spend your money itís easy to lose track of your spending. Luckily there are some great apps for money management. Below are a few favoritesó all rated with 3.5 stars and up. LearnVest: LearnVest is a money management platform, but itís also much more. You can link up your various accounts to keep track of your spending, savings and goals (that you set). But the best part about this app are the articles you receive via email from them. The articles that they send are full of helpful information related to early retirement, saving for your wedding, how to pay down debt, rebuilding bad credit, smart saving, and so much more. Every article is worth the read. This app is available on iOS. Mint: Mint is a well-known money management platform. You can hook up your bank accounts, credit cards, 401k and loans and set up budgets. The app utilizes graphs to show you how you spend your money and provides you with bill reminders. It will even give you your net worth. The only downfall to the app is that it has a difficult time connecting to small banksí online banking systems. This app is available on iOS and Google Play. Daily Budget: This is a do-it-yourself app. If you are one that is weary about putting your personal banking information onto your phone then this is the money management app for you. You plug in your income, reoccurring expenses and it gives you a daily budget. You can add in additional income and expenses as they occur. But, you will have to pay for the full version if you want to utilize all income and expense categories. This app is available on iOS. Comparable apps are available on Google Play. Prosper Daily: This appís main emphasis is on protecting your accounts. You can link up your bank accounts and credit cards and approve or deny charges as they occur. But, it is also good for a high level review of your accounts. You are able to view your balances on your credit cards and checking account all in one place. Another pro of this app is that you are able to categorize your charges making it easy to keep track of what you are spending your money on. One of the great new features now available is the ability to view your credit score. And beyond that it provides insight into why your score is the way it is and how to improve it. This app is available on iOS and Google Play. These apps will aid you in getting in front of your spending and back in control of where your money is going. Be sure to take full advantage of the offerings that each app has, as it will only benefit you in the long run.





Posted by Judy Moore on 1/25/2015

Everyone knows about coupons for everyday products we buy but did you know there are ways to save at places like the home improvement store, clothing stores and restaurants? Beyond the sales and promotions that these places have from time to time, there are websites that have extra savings waiting for you! Many of the couponing websites have daily or weekly emails you can subscribe to that have links of the best deals on the web. From coupons to restaurants, to online offers at places like Shutterfly, there is always something waiting for you to save on. Two great emails with valueable resourses are the ones from www.couponmom.com and www.coupondivas.com. Check them out! There are variety of websites out there that can help you save on the web. www.slickdeals.net has any item you can imagine for some great prices; www.nomorerack.com has everything from clothing to jewelry to home furnishings, all at insane prices; and www.shopathome.com has coupon codes you can use for online shopping to save just like you had a coupon in store. One of the best ways to get emails full of savings is to sign up with your favorite store's website. You will not only be notified with the lastest sale, but you will get exclusive coupon savings. Even some places, like Target, have weekly texts with coupions you can use on a variety of items, as well as coupons you can print from their website. Finally, using your reward points from those credits cards can help cut down on costs as well. Since most awards you get get with your points take tens of thousands of points, why not redeem your points for a giftcard instead? They usually start out at 2,000 points and cane help you cut the cost of that new sweater or Saturday night date night. Paying full price on purchases is not a necessity. No matter that your favorite store is, or how you like to shop, with all the options out there to save, what are you waiting for?!




Categories: Money Saving Tips