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KMBZ>Audio & Video on Demand>>Life As You Own It 8.10.14 Segment 3

Life As You Own It 8.10.14 Segment 3

Aug 10, 2014|

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  1. Life As You Own It 10.30.14 Segment 1

    Audio

    Fri, 31 Oct 2014

     

    retirement planning found at 10:58

    five years ten years twenty years. Take a look at your general retirement planning and they knew it. Make your financial decisions based upon that working in Q a sensible plan. Unfortunately with mortgages what most
  2. Life As You Own It 10.30.14 Segment 3

    Audio

    Fri, 31 Oct 2014

     

    craig miller found at 3:32

    this. Break in wyandotte Michigan ominous unique little known if not completely. Unknown effect for our listeners that is where I was born interest in. All right so so what's the fact frank that's where you're down one point 01 point early in Brett by Detroit there's so get through it you gotta all right frank you've probably. Gosh maybe you can drive by the birthplace of Craig Miller the guy I think his wyandotte how's that that regional hospital there's south Detroit maybe. OK so let's talk about your first of all your comment about your budget being tight frank chemists say. You gonna I wanna stay. He may be able to refinance to save money I don't think you're refinance and save enough money considering in a tight budget you don't wanna go shorter term. Mortgage in fact you could find yourself being hurt by that. It sounds good to get that low rate folks this goes to all of the other being enticed by that low rate but if your budget is all tiger not saving enough for retirement you're actually cheating yourself. Out of long term asset growth and additional money retirement. Even though he'd be paying your house off faster you're given up something that you could be earning
  3. Life As You Own It 10.30.14 Segment 2

    Audio

    Fri, 31 Oct 2014

     

    building home found at 2:23

    are gonna. But your battery cell homer a new home or your building home from scratch is this a lot that goes into the focus on his let's face it that's where you go to bed
  4. Life As You Own It10.24.14 Segment 2

    Audio

    Fri, 24 Oct 2014

     

    interest rates found at 1:48, 2:48, 7:54

    May be conventional but there's going to be some significant adjustments to interest rates . In a situation like this you're gonna wanna have a significant down payment if you're trying to go conventional because most mortgage
    a little bit now you're able to get a little bit better interest rates you're able to get the mortgage insurance products that are out there. And and it's going to be more formal process remind them home now 700 above is is really ideally where you wanna beat. And we tell you there's adjustments 707 when he sat between a 7474. You know above typically 760 or higher. He would qualify for the lowest PMI rates if you're not put in 20% and you can get the lowest mortgage insurance rates. Just gonna qualify for the lowest interest rates . 74760. There are some minor adjustments and once you get under 740 even though somebody with a 725 would be considered good credit score . He will pay slightly higher interest rates may even an eighth of a point higher the somebody with a 740 some odd score. You're over 700 but not quite the 720. You're probably paying about a quarter point higher rate than your neighbor who might have that 74575760. Score how much is an impact. Q well a 200000 dollar loan now thirty bucks so month. And I overtime nets in and a so it's important maximize the scores folks into get your foot in the door and deeply wanna be keep in mind to use that if you have a 76 year our credit score . Or 740 or seven when he or anything in there. Government loans there's not an adjustment so once you qualify for getting
    ugly Chris or what's gonna happen well you got some real pretty credit score a threat to get through pretty Chris the war. Anyway that much of the southern accent housing you got a real pretty credit score I don't know which your hand what's that mean mighty sale like that. Because I'm from the south right so all it does happen well we get this question a lot mark and you've got the answer what's it gonna be the effect with that. Lower spouse score well it is going to impair your ability possibly be at alone and it's definitely gonna hate you or interest rates they're gonna take the anyone who's gonna take the lower. Median score some median is gonna be that middle score. So if you've got to if you personally have a. 76740. And a 750. Your mid score is 750 if your spouse has a 68630. You know 610. His or her mid score is 630. So that means they're gonna have to they're gonna grade you as credit worthiness of a 630. Credit score which is going to make you work. Deal not real attractive if you even qualify. So yes it can edit what what
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Automatically Generated Transcript (may not be 100% accurate)

Yeah. -- got to be honest mark. Please don't. But let me know if that's you know but you know that consumers with excessive optimism. -- shadow -- -- and I think you'll agree you've got excessive optimism in in your financial affairs. It will possibly lead to what we'd rather you be a little bit the bit pessimistic about that's gonna force you to -- so our friends at the National Foundation for Credit Counseling we've got some mature for animal wanna share with you went out were asking the question what's in your budget these -- the things that should be. If you're planning for the unexpected. We recommend you've got to six to twelve months minimum in what we say reserves it's not. It's usually not the daily routine expenses that wreck people's budgets. It's the emergencies. Out prepare for these by socking away 10% of each paycheck into a rainy day fund net. Men mommy years are safe but you gotta start somewhere tackle the six months high five your partner or high five yourself and then get it towards that one year. Right and next -- So you Boettcher periodic expenses. -- -- known periodic expenses so that's a party your budget but budget for the -- thing birthdays and anniversaries and holidays and things like that that most illegal kennel my gas bill is my house payment car payments under the think about the months of the year that you have people we always celebrate by buying them a gift or. Having holiday dinner at your home arena sings -- he's -- extra money on those are the months that sneak up on people ease your expenses spike -- them. While minding your plan on spending yet to month too much month of the end of your money. On the next is obviously long term savings we talk about it a lot that's a party your budget that's something you've got to be -- put aside money for retirement etc. On household vehicle maintenance is that in your budget are you accounting for the the 20300. To 600 to 1000 dollars a month it's gonna cost. Much for your car but also for your home maintenance. -- -- -- You've got to travel what about travel the GOP budget for that family vacation and that vacation you have that his party -- normal budget or don't take the trip. Don't decide on a wind tunnel green we can save some money -- specialties plane taking its analyst stated budget place in the law. I hear people say all the time they decide at the last minute take a vacation getaway defaming needed it. And they spent about three times more money -- their plan so in a budget they didn't plan for right major purchases buying a home buying a vehicle remodeling your house. Are you planning for battery charging and credit card if you didn't plan. What else charitable giving. It always set aside something to help. He got a little bit of excess give back folks just give back the first thing we remind you those you gotta give yourself if you don't I it's it's great to be charitable. But if you're not if you don't have enough money in reserves and have a button down on the other expenses the you have. Don't don't throw that extra money in the collection basket necessarily. If it's gonna cause you know run up credit card to pay for your expenses for your groceries. Next is a health insurance choices. Are you going to making sure -- taken advantage of what your employer offers you -- you look at your personal -- yourself entering a painter entrance outside of work and making sure it's covering you -- appropriately but most cost effective through your employer. There -- a lot of options and I guarantee can save you money leaving money on the table. What -- -- your actual investments you get a budget to invest money not just your long term savings. But your actual investments themselves higher -- but true here for a one K. Any other -- domestic stocks bonds mutual funds those things so make treatment that's in the budget as well alright folks all of that should be in your budget in if you wanna check it out in more detail you can get to web -- like these you own it dot com we will share this -- Rosa. Thank you so much -- do you -- your sweetheart I'm OK so last thing is your house. Is it -- -- load the -- -- melodious now that's music melodious it's is it different so rigorous work. Yeah mode Mal motorists. Milan Italy as he feels a little later on -- we're gonna stay in Vegas folks out what it thinks it comes at a firehouse if it smells like. These two things -- the most common pets and cigarette smoke those who we hope it's not the though it could be but those are the third top two -- pets -- cigarette smoke I'm telling it. Scrub the house get the pets out get the cigarette smokers out you're trying to sell your house nothing will turn off of prospective homebuyers even if their smoker you'd be amazed. -- what I don't want to live in this house smells like where you sort of dirty laundry the hampering your closet and get that. And it dirty laundry smelling your closet and net finally depression that -- as well speaking of fresh tune in next week for another fresh episode of why did you -- remember too. -- that it.

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