What's Your Budgeting Why

Budgeting works best when you’re in it for the long haul.

For example, it’s awesome if you saved an extra $100 this month. Now you can buy a nice pair of shoes or snag a sitter to enjoy an evening out with your spouse. But if you save an extra $100 every month for a year, you can knock out some serious credit card debt, put more money toward a new home, or go on a weekend getaway with your family!

Staying committed over the long haul is difficult. That’s why we all need to have our budgeting why at the ready. Your why is the reason you made a budgeting plan in the first place. Today we’ll talk about how you can find yours.

What Type of Vacation Is Right for You (and Your Budget)?

Everybody needs a little time away, right?

Whether you’re flat broke or rolling in the Benjamins, sometimes you just need a little breather.

With summer on the way, you’re probably thinking about vacation options: Where do you want to go? How long can you stay there? And, oh yeah, how are you going to pay for it in the first place?

Smart questions to ask, right? So let’s take a look at what vacation you might be able to afford based on your budget:

4 Ways to Keep Summer Spending in Check

Sunny weather. Vacation planning. Cookouts, swimming pools and fireworks.

Are you excited for summer yet?

It’s easy to check out during the summer months. That’s what happens when the kids are out of school, the pool is calling your name, and everyone is talking about vacations. Just don’t be so relaxed with your budget that your money starts melting like ice cream in the hot sun.  

When you’re in relax mode, it’s easy to spend a little extra here and there until, suddenly, you discover that little extra spending adds up to a lot and your money is gone. But there’s good news: If you give yourself a few extra minutes to plan your budget, you’ll be good to chill all summer long.

Here are some tips for keeping control of your cash this summer.

How to Save Money to Buy a House

Looking to buy a house? You'll need to save money for a down payment.

What Is a Down Payment?

Let’s start with the basics. A down payment is the cash you bring to the closing table when buying a home. You may borrow money from the bank in the form of a home loan or mortgage, but a portion of the total cost must come directly from you.

Here’s why: The down payment acts as an insurance of sorts for your lender. When you hand over money from your own account, you’re officially invested. You’re more likely to make good on your mortgage payments month after month and year after year. Banks like working with folks like you.

By saving up for a down payment, you not only prove yourself to a lender, but you also set your own mind at ease. A sizeable down payment reduces your monthly house payment, allowing you to choose a shorter mortgage term so you can say goodbye to this debt sooner rather than later.

4 Ways to Save for Summer Fun

No matter how old we get, summer still holds a special appeal.

By the time June rolls around our thoughts roam from swimming pools to the beach to water parks and back to swimming pools. Once the hot weather hits, we’re all about summer fun!

The only downside is summer fun can get a little pricey. And we’re here to help! Here are a few ideas for cutting costs and saving cash, so you can make room in your budget for the stuff summers are made of.