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Resolution for the Owner of Huntsville AL Real Estate: Organize Your Personal Finances

By: Huntsville Real Estate Expert Mike Manosky On January 25, 2013

With all the recent national turmoil involved with avoiding the dreaded fiscal cliff, many money management experts have recently expressed concern for owners of Huntsville AL real estate: careening off a personal fiscal cliff of their own making.  Generally speaking, the advice they offer is to

  • Buy and borrow sustainably
  • Plan, save, and be accountable
  • Resist the temptation to spend without careful consideration
  • Explore using personal finance software for tracking purposes
  • Analyze your spending habits and alter them if necessary

GreenPath Debt Solutions, a nonprofit financial organization, has organized five easy personal finance goals for consumers and owners of Huntsville AL real estate in 2013.

  1. Set up a money management system that works for you. One fundamental fact that gets lost in all the discussion of personal finances is this: to become financially secure, you must spend less than you make.  Click here for specific steps to get started.
  2. Review your credit report at least once a year.
  3. Begin to save. Once you’ve got a workable budget, automate the process of saving. Setting up direct-deposit into savings makes it much more likely that you’ll do so.
  4. Get serious about reducing debt. One of the first steps in decreasing your debt load is to stop adding to it in the first place. Begin to get out of the habit of using credit cards.
  5. Learn something new about personal finances. Many community organizations, non-profits, and community banks and credit unions have free courses available to learn about money management.

As most owners of Huntsville AL real estate know, there are few “big ticket” items you can cut from your budget, but there are small ways you can decrease monthly/yearly costs.  As you analyze your spending habits, consider the following areas for reductions:

  • Out-of-network ATM fees.  These may cost you as much as $250 per year!
  • Bottled water.  Getting your recommended daily amount of water exclusively in bottled form can easily cost more than $1,000 per year, as compared with about 50 cents per year for just-as-healthy tap water.
  • Oil changes.  Newer vehicles often use synthetic oils that can last 7,500 miles or more.
  • Late fees.   Americans still pay more than $20 billion each year in credit card late fees and other penalties! Put routine monthly bills on an automatic payment plan
  • For similar money-saving suggestions, click here.  

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Having lived in the Huntsville AL area for most of his life, Mike Manosky understands exactly what makes this community special.  In fact, those who know him well will tell you he carries the same traditional values and focus on the future as Huntsville. 

Mike brings with him a keen eye for the details of buying or selling a Huntsville AL home and seemingly boundless determination and energy, which is why his clients benefit from his unique brand of real estate service. Rooted in Tradition, Focused on the Future – Mike Manosky will help make the most of your Huntsville AL real estate experience. Give him a call today, 256-508-0211 Direct or 800-803-0053 Toll Free, and discover the difference he can make during your family’s move.

 

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