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By setting up automatic savings payments, you can treat this payment as a normal monthly expense. When you get a raise at work, take that extra money and keep it in a separate savings account. Also, try to save bonuses, upsell fees, or tax refunds in your separate savings account. If you have a partner […]
Another important thing that banks should see is the income story. If a potential borrower recently started a new job, the bank can reject the loan application due to an insufficient income history, even if the borrower earns a healthy income. Hard money lenders can analyze these problems as long as the loan is repaid […]
For example, it may be easier to cut spending if you know that your short-term goal is to reduce credit card debt. Immediate financial targets include covering running costs. Some of these are mandatory and include your mortgage or rental payment, car loans, energy bills, childcare, food, cell phones and household supplies. Secondary goals, called […]