As a new year approaches, many people find themselves thinking about areas in their life they would like to improve on for the new year. For many it may be to exercise more, lose some weight, or do more reading and less screen time. If you are in your 30’s or nearing them, have you considered making it a goal to focus on what you do with your money? If you’re looking for a Pittsburgh new new homebuilder, chances are you should read on to make sure your money is going where it should. Parry Custom Homes has some great tips for financial advice from TIME for those in their 30’s.
Normally financial advice is given to college or post-college students as they enter their careers. However, by the time most hit their 30’s, chances are they are at a more secure position financially than in their 20’s.
When you are no longer living from paycheck to paycheck, what are the best things to be doing with your leftover money? According to Solari Financial Planning, making savings goals a priority is first. The 30’s tend to be a time where you will need extra savings as you embark on a new home, kids and a car.
Mint and You Need A Budget are two great online tools that allow you to create savings goals and check your progress. If you are planning to buy a new home, it is ideal to have 20% to put down towards that new home. If you don’t have the 20%, you will have to pay for private mortgage insurance (PMI), which can add to your monthly payment for your new home.
It is best to take a look at how much you need to save to put down 20% and then see how to make sure you’re buying a home you can afford.
Another shocking figure if you are planning to have children- the average cost to raise a child is $245,000 and that doesn’t include college expenses. The best way to prepare yourself for these expenses is to start setting aside money as soon as possible.
Insurance in general such as life, heath, home and disability often gets put on the back burner for savings but it is very important to make this a part of your plans to protect not only yourself, but your families’ well-being as well.
If you take all of these tips into consideration, you will be well prepared to take on your 30’s this New Year and for many years to come!
Parry Custom Homes is an established homebuilder in the Pittsburgh area. Call or contact us today for more information about this floor plan option, or to view other homes in our portfolio that may suit your new home needs.