BUSINESS CENTS
goals and you can be proud of building momentum.
Create and stick to a budget
There is power in knowing the exact amount of money coming in and going out each month, so budgeting is an essential step in understanding your finances and guiding your saving efforts. If you budget and find a surplus, consider using that extra money to bolster your savings. If there is a deficit, reevaluate and decide what adjustments can be made. Understand necessities versus nice-to-have expenses and find ways to make your money work for your situation.
Know your "why"
Building a savings takes time but having a motivation for your commitment can support your success. Whether it's to have a safety net or you're saving for a down payment on a home, a goal can help keep you focused, which means you are more likely to follow through. . If you're interested in buying a new home, you might not need as much down payment as you think. Apply now at Vanderbilt Mortgage and learn about financing programs that fit your budget. If you already have a loan with Vanderbilt, consider paying ahead or even paying extra towards your principal balance; this will help you pay your mortgage loan off earlier.
"Building a savings takes time but having a motivation for your commitment can support your success."
These three initial steps can give anyone a guiding start to building a savings account to help them reach their goals. To access the 2021 Home Loan Guide and to get more details about smart steps you can take to save, visit www.vmf.com. Remember, just like a runner needs to train from completing a mile to completing a marathon, the best way to build a savings account is with consistent, achievable steps.
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Vanderbilt Mortgage and Finance, Inc., 500 Alcoa Trail, Maryville, TN 37804, 865-380-3000, NMLS #1561, (http://www.nmlsconsumeraccess.org/), AZ Lic. #BK-0902616, Loans made or arranged pursuant to a California Financing Law license, GA Residential Mortgage (Lic. #6911), MT Lic. #1561, Licensed by PA Dept. of Banking. Equal Housing Opportunity.