Owning Your Home

Strengthening Your Financial Security with Good Health and Work Habits

Over time, good habits are part of what separates the financially successful with those who struggle. One of the most obvious good habits is building your savings. But there are other good habits that go a long way. When combined with a rigorous savings plan, this combination of good habits can lead to long-term financial security. Examples of these habits include:

Our homebuyers club helps you understand some of the basics about home maintenance, such as:

  • Developing a spending plan and sticking to it
  • Taking care of your health, and quitting bad habits such as smoking
  • Planning out your work and career

In this session, we’ll spend some time dissecting these good habits and asking some key questions about how to get started.

In the end, this combination of good habits goes far beyond financial security. It very quickly becomes a life plan.

Developing a Spending Plan and Sticking to It

In a previous session, we help you develop a spending plan. In this session, we help you stick to it. The essential components of a spending plan remain the same: an accurate assessment of your income and your expenses, a clear plan for saving money every month, and the avoidance of high interest debt.

But sticking to a spending plan is easier said than done. It requires the discipline to resist spending a little bit of money here and there. We’ll cover some of the proactive things you can do to stick to your spending plan, such as:

  • Researching big purchases and expenses
  • Creating shopping lists and resisting impulse buys
  • How to avoid spending money on credit

Your ability to stick to a spending plan will be critical in securing a mortgage. Ultimately, it will be up to you to exercise discipline. Hopefully, these strategies will help you stay on track.

Taking Care of Your Health, and Quitting Bad Habits Such as Smoking

While you’re becoming more disciplined about your financial health, it’s also a good time to get more disciplined about your body. For many, that begins with some basic adjustments such as eating right, getting exercise, and quitting bad habits like smoking.

Buying a home is a long-term commitment. Your mortgage will likely be a 30 year note. Why not take that kind of proactive approach to your health? How can you ensure that you will be in good health when your home is fully paid off?

Some of the things we review include:

  • Health literacy
  • Obtaining health insurance and seeing the doctor
  • Quitting bad habits

Caring for your health with the same diligence as your bank account will certainly pay off in the long term.

Planning Out Your Work and Career

For many people, it’s a rare moment when they can think strategically about their career. It’s hard enough to balance all of the demands on your time each day. In this session, we help you think about your career over the long haul.

Depending on your background, your career prospects may include direct promotion, moving to a different employer, obtaining new skills through certifications, and more. It all begins with planning out your particular career path.

Some of the areas we cover include:

  • How to identify opportunities for advancement
  • Career mobility
  • Certifications and other educational opportunities

By paying attention to career advancement, you will end up making more money than when you originally qualify for a mortgage. That leaves you with additional money for your spending and savings plans.