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With many of our newest home buyers just starting out on their own, common habits can sometimes be a financial set back.

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For example: Eating out

Many of us work such long hours, the last thing we think about at the end of our work day is dinner.  This tends to put us over the edge and into full blown exhaustion mode resulting in a call out order to our favorite pizza joint.  Oh, and thanks to social media…we all have a weekend full of events that include brunch here and birthday party there, a quick shopping trip here that will result in eating out for breakfast, lunch and dinner…  This #1 budget killer can result in over $60/week, bringing it in at over $3,000/year!

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In the grand scheme of things $3,000 probably isn’t all that much money to many these days, but if you intend to buy a home in the near future, you will need to know that closing costs can run anywhere from $2,000-$5,000 depending on the type of loan you are applying for.  Down payments are typically between 5-20% of the purchase price.  Home inspections, water tests, good faith deposits and unforeseen kinks in the home buying process can really throw anyone for a loop if they are financially unprepared.

Additionally, apps like Zulily and Hautelook along with subscribed emails to your favorite stores make it hard to pass up a good bargain…but eliminating these from your everyday routine will help you stay on track too.

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Reassess your utilities and subscriptions.  Do you really need that full cable subscription when you usually just watch netflix?  Most stations make their programming available online eliminating the need for an expensive cable bill.  Do you really need that land line?  Unless you live in an area with a lack of cellular service, most folks these days can get by with just a cell phone.  Paying for music, exercise and other subscribed services that you rarely use can really add up too!

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Home buying or home maintaining, making these little cuts can prepare you for nearly any surprise as a home owner!

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