Did you know that a wedding costs, on average, $28,000? It seems like a lot of money, but it requires a budget. When it comes to planning your wedding, your budget is one of the most important factors. Wedding planning should begin with setting your budget. It is a process that is necessary, but it may not always be fun. It is common that parents don't pay for your wedding. Nowadays, it is much more likely that you will pay the majority of the costs of your wedding. Lucky couples have their parents foot, at least, some of the expenses, but mature couples should not build on it.
Prior to doing anything else, you should set your wedding budget. It is key to have an understanding how much you can afford. It's better to make some tough decisions in the beginning of your planning process that to run out of money months before your wedding day. Make sure you have a budget before you begin spending. It is too risky to buy or reserve anything before you have set your budget. Your budget should be based on careful calculations and real numbers not wishes, hopes, and desires. If you estimate, it is likely that you will underestimate.
Be fair in your evaluation. If you are independently wealthy, forget about a budget. You have nothing to worry about, spend as much as you want. If money is tight, just be creative. Having less money is not automatically a negative. As you folks to see if, they can help with some of the bills. Be nice and don't expect mom or dad to take on a second mortgage to pay for your special day. It's not worth bankrupting your parents, for a party. If your parents can't afford to help you, you might need to postpone the wedding or lowering your budget. You can make your own wedding favors to save.
If you are the independent type, it's best not to ask your parents for financial help. Take an honest assessment of the situation, and set your budget accordingly. Prioritize, if you have to work with a smaller budget. Decide what is most important to you and place them to the top of your list. List the most essential items and scratch the rest. Reduce the number of invitees, reduce the cost of the food, buy a less expensive gown, etc. You have many opportunities to save. Marriage is all about compromises, planning your wedding on a budget should be a good exercise for you and your honey. The most important thing is to have fun. A worksheet should help you in making your final decision about what to include or exclude from your wedding day. Wedding budgets are very important because they enable you to make a decision on the total dollar amount you can afford to spend on your wedding day.
Have you ever wondered how is it possible to have the wedding of your dreams, while staying within your budget? Learn to cut wedding costs.
Can I Afford To Buy A House
"How much mortgage can I afford?" is a question asked by many home buyers today, yet it is based on many unknown factors. Certain mortgage lenders will try to get the most money out of the new home buyer;therefore, it is your responsibility to know exactly what to look for in a loan officer or broker.
It is imperative that you are educated about the necessary steps to get the most from your lender as you are preparing to determine which lenders are honest and reputable. There are many lenders and mortgage brokers who are genuine and honest about their profession, but unfortunately we do not have any way of knowing this unless we become educated about the mortgage process. When you are shopping for mortgage quotes and lenders, try to remember these important tips:
1. Quick mortgage quotes may not be final.
Yes, quick quotes are helpful for you to determine an estimation of your monthly payment, but you must understand that this may not be the final mortgage quote. You should ask yourself these questions before you talk seriously with a mortgage lender or broker.
- How long are you planning on owning the house?
- Are you planning on paying points for a more attractive mortgage rate?
- Is there a specific type of home loan you will be applying for?
- What will your down payment be?
- How long have you worked at your present company? Some lenders require the borrower to have worked at their job more than 2 years. They want to see financial stability.
- What is your debt-to-income ratio? (How much money is going out in relation to how much is coming in)
As you can see, a quick free mortgage quote will help, but after the mortgage lenders get the answers to these questions, that mortgage rate may change.
2. Mortgage rates fluctuate on a daily basis.
When shopping for mortgage rates, try to do all of your research within a 2-3 day span. The rates will vary from day to day. This can tend to frustrate many home buyers attempting to work out a budget for their mortgage.
Also, when you get a mortgage rate which appeals to you, make sure to lock it in for 30 days. Therefore, if the rates rise within those 30 days, your rate will stay the same.
3. You should receive a "good faith estimate"
After you submit a mortgage application, you should receive a "good faith estimate" within 3 days by law. This document will detail all of the fees associated with the application, which should not vary during the mortgage process. Note: Your mortgage rate can still change, so as stated before make sure you lock it in for 30 days.
The answer to ?How much mortgage can I afford?? is not a hard one to answer. It only takes a little time and effort to get educated about the mortgage process. This small amount of research time can pay off big for you in the long run. Let the mortgage lenders see that you mean business and you know the drill, and you will always be one step ahead of them.
Both George Meszaros & Jenna Scaglione are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Jenna Scaglione has sinced written about articles on various topics from Marriage, Parenting. Did you know that 65% of home buyers do not understand the process of getting a mortgage? For mortgage education and answers to the question
