Real Estate Word -- Making Cents of a Downpayment Budget November 2005 Dennis & Arleen Galandy Sales Representatives ----------------------- 100 - 32555 Simon Avenue Abbotsford, BC 604-855-0800 (office) 1-866-350-0461 (toll free) www.GalandyGroup.com Greetings! Saving up for a downpayment can be so frustrating that sometimes you feel as though you’ll be renting forever! This month, we discuss how to re-think your budgeting strategy so that saving will not only become easier but also fun at the same time. Halloween is now over which only means one thing – the Holiday Season is now upon us. We’ve included some tips so that instead of stressing over everything at the last minute, you can be prepared this time around. Finally, if you’re looking for an appetizer that people will love yet is incredibly simple to make, you’ll want to check out this month’s recipe. They’re easy to make, look complicated and taste great which means you’ll get lots of credit yet endure no hassle! Please enjoy the following articles and let me know if you have any comments or questions. In This Issue... Making Cents of a Downpayment Budget Stress Free Holiday Season Solutions Antijitos - A Family Friendly Appetizer Making Cents of a Downpayment Budget Saving up for a downpayment can sometimes feel like a never ending battle with no end in sight. It’s easy to get frustrated especially when you have no real plan in place. Creating and implementing a budget is a critical first step and could mean you’re able to own a home a year or two sooner than you’d planned. If at the end of each month you find yourself wondering where all your money’s gone, it’s probably time you started keeping track of your finances. If you know exactly how much you’ve got each month, you’ll be less likely to overspend as you know it’ll send your budget haywire. Furthermore, creating a budget means you’ll be a lot less stressed about your financial situation as you’ll have more control over your money. The first thing you’ll need to do is calculate how much you need for your downpayment. Next, make a list of your monthly expenses. Carry a notebook around with you and jot down daily expenses. Once you determine how much you can cut from your expenses, calculate how long it will take you to achieve your downpayment goal with your new found money! It’s much easier to achieve your goal when you have a pre-determined time frame. Now the important bit – figuring out where can you cut spending so that you’re able to get into your house sooner. Here are some ideas: • Do you need that extra cup of coffee? It could be costing you over $500 per year! • Cutting coupons and buying in bulk are good ways to cut grocery bills. Planning weekly menus means you’ll be less likely to order take out or overspend at the grocery store. Don’t buy milk and bread at convenience stores as you’ll be paying through the nose. • If you own a cell phone, examine the bill and see if your package is the best deal for you. The same applies to your home phone and long distance plan. • If you’re paying a lot of interest on credit cards, consider consolidating your debts to a line of credit that offers a low interest rate. • Open a ‘home-buying’ savings account to keep funds separate from your usual back account. Deposit unexpected lump sum payments such as rebates and tax refunds directly into this account. • Consider selling your car and walk, ride a bike or car pool instead. Not only will you gain cash from the sale of the car, but you’ll save money on maintenance, gas and insurance. • It’s important to make saving for a house fun. So that it doesn’t become tiresome, include family members and remind yourself to look at your budget as something positive. Have your financial goal taped to a board along with a picture of a house and chart your progress. Creating a budget is the best way to start saving for a home. Don’t forget to update it when your income changes and keep your eye firmly on the goal! There are many great programs out there designed to financially assist home buyers with their downpayment needs. Just let me know about your particular situation and I’ll point you in the right direction. If you know of anyone who’s trying to save for their first home, please feel free to forward this article to them. Stress Free Holiday Season Solutions Now that Halloween is over, the shopping malls are playing carols and there are decorations and displays everywhere bombarding us with gift giving ideas. For a stress free Holiday Season, why not start planning a little earlier this year. The holidays are so much more enjoyable when you don't have to rush around at the last minute. Here are a few tips that might help make this time of year a little more relaxing. Buy a couple of medium size wicker baskets that are large enough to hold wrapping paper, gift tags, tape, scissors, ribbon and a pen. Attach the scissors, tape and pen to the basket with a piece of string so you don’t lose them. Make sure to write out the names on the tags before you start wrapping. Keep this basket handy so that you can do a bit of wrapping in short chunks of time, for instance while you watch the evening news. The task will actually become a pleasure rather than work and the basket will add a festive tone to your living area. Use the other basket for cards along with stamps, return address labels, a pen and any enclosures you plan to include such as family photos. Stamp, address and put the return address labels on the cards. This is all mindless work that can be done while you’re on the phone or watching TV. The trick is to put a few in your jacket pocket or briefcase and pull them out while you’re sitting somewhere with time on your hands. Chances are you’ll pass a mailbox when you’re finished and then you can cross them off your list. Inevitably, there will be someone who will come to your door with a gift that you weren't expecting or you’ll find yourself wanting to give a gift to someone at the last minute when there’s no time to run out and get one. To get yourself out of this potentially embarrassing situation, pick up a few boxes of chocolates and wrap them up with a blank gift tag attached and a pen nearby so you can fill in their name. If you find that you don't need all the gifts you wrapped, you can always drop them off at a shelter or food bank. The Holiday Season is a really fun time of the year so why not re-think your strategy and do away with the stress right off the bat. These ideas should eliminate a few of the problems that cause some of us to grit our teeth and wish we could run and hide when the Holiday Season peeks over the horizon. Antijitos - A Family Friendly Appetizer If you’re looking for an easy and delicious appetizer to serve your friends and family when they come over for drinks or maybe you’ve been invited to a pot luck party, try this simple recipe for antijitos (pronounced an-te-hee-toes). It’s so easy that even your kids can help out. Here’s all you’ll need: • 2 tortilla wraps • 1/4 cup cream cheese • 1/4 cup salsa These ingredients will make enough to serve 4 people. Spread cream cheese on the tortilla wraps and then spread salsa on top of the cream cheese. Roll up the tortillas and place them in the fridge for a few hours. Once they’re chilled, slice the tortilla rolls 1 inch apart just before serving. If you wish, you can add small cut up pieces of red pepper on top of the salsa before rolling up the tortilla. You can vary the degree of spiciness by either using mild or hot salsa or adding red pepper flakes. Make sure to make enough as it’s the type of snack that people can’t get enough of. P.S. Are you sick of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started. Created by RealEstateWord.com