Learn how to better manage the impact of home loan repayments with our helpful budgeting guide and tools.
It is very important that you manage your finances and spending so that you always have enough to cover your home loan repayments.
You may have set up a budget when you were saving for your deposit. You just need to update that now with your home loan repayment. If you don’t have a budgeting tool, you may find it beneficial to get one set up.
Knowing where you are tracking with your finances can relieve the nervousness of having a home loan and keep your spending under control!. You just might need to save for a few months to get that new sofa.
If you have just got to a pre-approval stage, then now is a great time to get organised and set up your budget. You may wish to start saving for any moving expenses, new furniture or maybe just prepare for when your home loan repayments start. This is also an opportunity to consider the affordability of the loan based on your expected households expenses. An honest budget can be a real eye-opener - and now is a great time to do that.
There are some great budget tools and apps available to help you get into shape. You might find it interesting to research these and find one that works for you.