At work, companies will offer webinars on various topics. This webinar was about suggestions when buying a home. Bank of America presented this webinar. Any misinformation is the fault of the note taker.

You can use BofA resources if you have a job check deposit.

Bank of America has a BetterMoney website has suggestions

Finance goals:

• 62% of people meet their goals if you write them down and monitor their progress.
• Determine your finance goals.
• You need a hard end date to reach your goal
• You need a specific dollar amount you want to save.
• If saving for college> you don’t know the dollar amount. Older kids are easier to predict finances while younger kids it is hard. Try to estimate potential costs.
• They recommend breaking goals into small chunks. If you want to buy a car. See what you want to buy. Look at the interest rate, months later put down the down payment.
• You want to prioritize the most important goals are more? Do not have too many goals. It is easier to concentrate on your goals if you have top
• Top three goals. Determine the short goals coincide with your long-term goal.
• Stay motivated.
• Include a family member or friend of your goal, so you have someone to be accountable to.
• Think about what might divert you from your goal.
• Quote: If you don’t know where you’re going you end up somewhere else.

Set up a savings plan:

• Keep track of your current expenses on a spreadsheet.
• Write down your take-home pay.
• Bank of America online bank is available by several banks.
• Categorize your expenses as essential and nonessential and essential.
• Find out how to reduce price plans like a phone or maybe use cheaper medications or discontinue services you don’t’ use.
• MG: some companies provide sharing of accounts such as Netflix. A family might be able to combine accounts.
• Tracking your spending will keep track of your spending patterns.
• Maybe compare utilities with neighbors to see anything suspicious. Speaker found out they have a water leak.
• Tip: if you want to buy something, wait 48 hours, so that you resist impulse spending. If you still want it after 24 hrs. then buy it.
• At the end of the month, review your income and expenses.

Credit:

• 44% of holders in the United States carry a credit card balance each month. As a result, they pay a high-interest rate.
• You feel the pain of paying if you pay cash. Credit card delays the pain.
• Ask why you are paying using a credit card. If for points and you have a balance you may be losing your point in high interest
• Before you pay, ask yourself, it is a want or need. This will help with a spending plan.