There are some projects, such as buying a house, that cannot be turned into reality over night. In addition to having to consider a number of factors, you must also be able to save sufficiently, all the while ensuring that the financial repercussions do not affect your lifestyle.
Whether you’re dreaming of a trip around the world, purchasing a new car, retiring under the sun, or acquiring a second home, your project must begin with a plan!
Advice… from the comfort of your home
Financially, it’s always wiser to save sufficiently to avoid having to rely on financing to accomplish your life projects. However, there’s no denying that in some instances, such as buying a home, it is quite difficult – and often, impossible – to save all that you need to pay it all in cash.
This however doesn’t mean that saving is futile. By saving as much as possible, you thereby minimize both your future monthly payments and the interest that accumulates on your loan. In turn, this will free up some considerable room in your budget.
But how and how much should you save? Continue reading