Growing Up And Going Out On Your Own is Exciting and Challenging! What’s Next?

This is an exciting time in your life. You’ve finished school, landed a job and are taking on adult responsibilities. With all the excitement going on, it’s easy to forget to take some time to think about your financial future. Establishing good money sense will help you now and throughout your life.

Northern Virgnia Area First Time Home Buyer

In this life stage, it’s easy to live in the moment and overlook how today’s decisions can affect your financial future. Being out on your own may be a lot more expensive than you thought. You have to pay for a place to live, food, utilities, insurance and possibly a car. Those are just the necessities—you’ll want to have some left over for fun. Consider drawing up a realistic budget based on your monthly income, so that you can keep yourself in check and not overspend, even though we know you would rather be out shopping!

How Much Northern Virgina Real Estate Can You Afford?

Many people in this stage of life choose to rent, instead of buying. This is a good idea, especially if a job change or move to another city is in your near future. It’s also financially savvy since it allows you to stash away some money for a future home purchase. Having a roommate and sharing expenses will save you even more money.

Establishing good credit will help you tremendously when you apply for a loan to buy your own place. Some simple steps you can take to achieving great credit are:

• Pay yourself first to build savings
• Pay all your bills on time, including credit cards
• Keep a minimal number of credit cards and use them responsibly: two is optimum
• Putting these steps into action will help you achieve good credit habits for life, setting you up for the more important investments in your future.

Learn More About Buying Your First Arlington and Alexandria VA Area Home

I’d love an opportunity to share with you how a little bit of planning now can help you build wealth, security and financial independence through real estate.