A budget is an important tool for first-time homebuyers and current homeowners.

Throw out any negative feeling you may have toward budgeting. We’re here to tell you that budgeting is a great exercise, and can free your financial mind.

A budget is meant to be a guide to where you should spend your monthly income.

Budgeting can mean guilt-free fun. By making and sticking to your budget, you can spend money knowing exactly how much you need to set aside for necessities, and how much you can spend on other activities! Budgets are an important tool for the first-time homebuyer because it can help you make your move into a home with a payment that fits your lifestyle and circumstances.

For existing homeowners, budgets can help you achieve or maintain financial freedom.


Budgeting can be done by anyone — it just takes time initially to set it up correctly.

Gather paychecks, bills and bank statements to get started.

You can write down all this information or use a budget tool. Start by calculating your monthly income, which includes not only the amount you may get from a regular paycheck, but also any money you get in government aid, child support or pensions.

The next step is to look at your bills and bank statements to find out truly what you spend in each category. This accurate information will empower you to take control of your finances.

Do you see a surplus? That is great. You can take that surplus and contribute to your financial goals, whether that be saving for a down payment, taking a family vacation or building a nest egg.

Do you see a deficit? If so, you can make the changes needed to balance your budget. You can cut back on non-essential items, like eating out for dinner, to get financially fit.


Having this knowledge is powerful and can help you take the right steps toward financial stability.

A budget is crucial for home ownership, whether you’re a first-time homebuyer or you currently own a home. A sound budget can relieve stress and help you feel confident in the way you spend your hard-earned income.

Follow these tips from the folks at Vanderbilt Mortgage and Finance Inc., a national housing lender that specializes in financing manufactured homes, and you’ll be on your way to easing financial stresses.

The company has been in business for more than 40 years, currently servicing more than 200,000 home loans, and working hard to tailor loans to each family’s needs.

Vanderbilt has an “A+” grade from the Better Business Bureau and is a Berkshire Hathaway company.

For more information, visit VMFHomeLoan.com.


This article is courtesy of Brandpoint.