Determining how much you really can afford to borrow before you to remain the dotted line is a great solution to stay static in control of your money. It may be very useful to split the procedure on to a few actions.
1. Assess your financial predicament by developing a monthly spending plan. The following is a spending plan worksheet plus some info on building a spending plan
- First, add up all your fixed costs (these include: rent/mortgage, resources, phone along with other recurring regular bills, amounts you put aside for every single month for cost cost savings, kid help re payments, insurance costs, and re re payments on any current loans including outstanding personal credit card debt). (more…)