If you’re trying to buy a home, it’s important that you keep your spending under control this holiday season.
It’s the most wonderful time of the year – for spending money! Between the gifts you need to buy, the events you want to attend, and the food/drink/clothes you want to bring or wear to your holiday parties, this time of year can get pricey. If you’re trying to buy a house, that could be a problem. Use these handy tips to keep your holiday spending under control and stay on track to buy a home!
- Avoid New Credit: While it might be tempting to open up a new credit card to lessen the load on your other lines of credit during this time of year, don’t! Not only will a new credit card make overspending tempting, it will also require a hard credit inquiry. That inquiry will ding your credit score.
- Shop With Cash: It’s important that you don’t spend more than you have during the holidays. When you shop with cash rather than plastic, you literally can’t. Not only does cash help you avoid racking up new debt, it’s also a foolproof form of fraud protection. No one can steal your identity from that $20 bill!
- Leave Your Savings Alone: Transferring a large amount of money from your savings to cover your holiday spending might help you avoid holiday debt, but it could also cause concern for your lender. Leave your savings alone – you’ll want it when you get into your new home!
While I can’t be with you as you make (or, hopefully, don’t make!) every purchase, I can provide you with useful guidance to help you keep your finances on track so you can buy a home. For that kind of guidance to help you survive the holiday season, contact Andraya Coulter. I’m located in Walnut Creek and serve homebuyers in Texas and California. Call me today!