Most people carry a lot of debt and very little savings. The goal is just the opposite: You should save 15% of your pretax income via super contribution, and an additional 20%–25% of your after tax income. #savings#investment#coffee#homeloan#budget The key is to make a budget and stick to it.
I have a always lived on a strict budget 50% of my after tax income goes to my mandatory household bills: Mortgage, car payment, utilities, etc. I then try to save on the things I buy consistently like petrol, groceries, household stuff, and major purchases and investing that money.
For example, by not spending $10 a day for lunch or overpriced coffees you’ll save $200 a month. At the end of 12 months, you’ll have $2,400. If you save an additional $50 every month, you’ll end up with $3,000. Big deal right? Not impressed? Imagine you are a making a higher level of income, and multiple your savings amount by 10 to $2,500 a month. That’s a $70,000 difference! Imagine that. That can be the deposit on your new home.
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A valuation report is a professional and legal assessment of the value of your property prepared for many different purposes. #Mortgage #Valuation #homebuyer #homeloan
Here are the most common reasons:
Read more on different values for the same home and other posts on LinkedIn.
Do you constantly overspend? You personality might be controlling your purse…
Did you know that each letter of your Myers-Briggs type could affect your finance? #Investment #Personality #introvert #extrovert #Planning#shopping
Extroversion vs. Introversion
The E-I preference pair deals with the way people source their energy. Extroverts may be prone to overspending on social activities like annual getaways with friends or work happy hours. Introverts on the other hand, may spend too much time alone pondering a big money decision, arming themselves with loads of information but not seeking potentially useful outside input.
Sensing vs. Intuition
The two middle letters that make up your MBTI personality type shed light on (1) how you absorb information and (2) how you make decisions or come to conclusions. Sensing is about taking in information in a very specific, step-by-step, sequential way. People who show a preference for Intuition prefer the big-picture information. People with extroversion and sensing preferences might not consider what’s coming around the corner so it’s important that they consider how their present decisions could affect long-term goals.
Thinking vs. Feeling
Thinking people make a pros-and-cons list. Those with a feeling approach, however, give weight to how their choices will affect those close to them.
Judging vs. Perceiving
The J-P preference pair captures the way you organize your world. People who fall under the judging could be a bit too hasty when it comes to making money moves because they just want to experience the “joy of closure. Perceiving people they tend to drag their feet because they desire casualness and flexibility. Which means that they may wait too long to make those important financial decisions.