Finance Tips for First Responders
Budgeting and saving are not easy tasks when you have a busy life and work schedule all while trying to see your family whenever possible. To get a leg up it is all about knowing the ins and outs of what opportunities are available to you and making the right decisions when it comes to spending, investing, and overcoming financial issues from the past that may come up again to affect your credit score.
Tip 1: Budget! Budget! Budget!
Budgeting is an important first step when trying to create a financially stable life and future. It is crucial to keep track of every dollar so that you can plan your spending for the days to come. Creating an excel sheet and using it to keep track of bills, amounts, due dates, and miscellaneous spending can help you find areas where you are spending way too much so you can cut back and put that money to work somewhere more useful. Don’t worry about expensive software, Google has a great spreadsheets option where you can easily log everything and it is available from your phone to log spending on the go.
Tip 2: Leave It Up To The Pros!
Just like you wouldn’t want someone doing your job and making a situation worse because they aren’t trained to do it correctly, this same logic applies to your taxes! When it comes to tax time it can be just as daunting as setting up a budget. Money can be saved by going at it alone, but sometimes you need to spend money to make money. During tax season take advantage of professional accountants who can help you get the most out of your refunds, which then can be turned around and stashed in your savings. There are professional accounting services specifically for police and firefighters, you can find the link here.
Tip 3: Take Advantage of Those Discounts
First responders are always running towards emergencies and have no fear when it comes to saving others. For this, no first responder should be running AWAY from anything because of a fear of not being able to afford something. This is where handy discounts come in! Taking advantage of all those that are available is a great way to be able to spend some of the extra money you found during budgeting on something for yourself or the family. There are plenty of businesses that offered first responder discounts and it is important to take advantage of them.
Tip 4: Make Smart Choices When Shopping For a Home
Buying a home is usually a big goal when settling down with a family. Renting is basically throwing money into a pit you will never see any return from which can give you more drive to finally find that dream home. When starting to look for a home it is best to do your research. Many mortgage brokers can be found online, they are using Facebook marketing for mortgage brokers more and more now, so it makes it easier for you to compare. Keeping an eye out for ads online and also reaching out to friends and family to get recommendations for brokers and real estate agents is best if you are looking for someone you can trust. There are even special lending programs out there for first responders, so this is where taking advantage of specific first responder programs will definitely give you an advantage when trying to be smart with your money when purchasing a home.
Tip 5: Is There Hope When Facing Foreclosure?
Unfortunately, sometimes no matter how hard we fight it we must call defeat and face the possibility of losing our home if we are struggling with large amounts of debt. Good news is there is hope if you are facing mountains of bills. If you are coming close to losing your home to foreclosure filing for Chapter 13 Bankruptcy can stop foreclosure and help you keep your home. It is so important to understand you do have a way to stop the snowball from growing and plowing you down. To find out more about Chapter 13 info check here. It can be helpful to get a free consultation by a lawyer to see what you are facing. To find a lawyer offering free consults in your state check here.