MFR Real Estate Update – January 2016

Be a part of Modern Family Real Estate – the team that treats clients like family!

Home Budgeting Tips for 2016
With 2015 behind us some of you may be thinking on how to better budget for 2016.  As a former accountant with Deloitte and KPMG here are some budgeting tips to put more money in your bank and to potentially save for a down payment for your dream home!

Do you have a budget?  Less than half of Canadians actually use a budget to track spending and savings.  Is it worth your time?  As the individual responsible for the finances and paying the bills (every family typically has one) it was my job to make sure we were in the black and saving money each month and making appropriate investments based on our risk tolerance.

Why create a budget?  It can help you pay your bills on time, cover unexpected emergencies and better track your investments like buying a house or condo!  Here are 3 easy steps to create a personal budget.

1.  Add up your monthly income

2.  Budget your expenses and actual expenses

3.   Calculate your net income or loss

A budget is a good exercise to do at least once a month.  It will help figure out if you can afford to buy a property and take on more debt.  It also shows if you are like most Canadians and spending more money than you earn!

2016 Tax Tip

Winter Incentives

As your real estate sales representative and former accountant I can assist you with any of your financial questions including creating a budget, RRSP Home Buyer’s Plan, TFSA and Income Taxes.  Please contact me at 416-705-2444 to book a free consultation or visit our website for more information and listings

From Your Modern Family Realtor Team – Paul, Ewan and Jasmine

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