Three Financial Errors To Avoid

Everyone makes a mistake with money once in a while…perhaps a careless purchase, an impulse buy, or truly falling on hard times when you have very little income and have fallen on credit cards or high interest loans to scrape by. The good news is that anyone can recover from a financial error, but it’s going to be much harder to do with certain mistakes. Money can be a stressful topic – often it is the single thing that ends marriages or causes emotional upheaval and/or depression. Keeping a tight reign on your finances will serve you well in multiple ways.

Three Financial Errors To Avoid

  • Missed and late payments
  • Buying a home you can’t afford
  • Paying Only Interest on any Loan

Missed and late payments – whether they are house, car, or student loans – do more than just set the maturity note on your loan back. The real problem is that they absolutely destroy your credit. Your biggest indicator of credit is whether or not you pay your bills on time. Missing three payments can start the foreclosure or repossession process as well – this is truly a situation of the sooner you take care of it, the better. Reach out to your mortgage company and find out what programs they have available if you are struggling. Ignoring the problem won’t make it will go away – but it will get your home taken and your credit score to drop several hundred points. There’s nothing worse for your credit health. If you have to set up automatic payments to remember to make payments on time, do it. It’s worth it.

Buying a home you can’t afford is something that many people feel pressured to do. Many people don’t realize that they really should not be spending more than 30% of their income on a mortgage payment, or maybe less if they have many loans and excessive student loans. Regardless, there is nothing worse than being “house poor” – living in a big, beautiful home, but being unable to afford to furnish it or to eat well. People cannot maintain this lifestyle and will fall behind on their payments, and catching up is nearly impossible. It’s far better to live beneath your means.

If at any point you find you’re only paying interest on a loan, that’s a problem. You’re making zero headway and only lining the loan company’s pockets. Try to make more than the minimum payment, or see if you can refinance or consolidate. See a financial planner for assistance with this no-win situation.

Are You Thinking of Buying a Home in Dubois County?

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Newest Homes for Sale in Dubois County

View the newest homes listed in Dubois County in the last 10 days:

Welcome to this stunning 3-bedroom, 3-bathroom home situated on a spacious .96-acre corner lot. Step inside to discover a bright living room with a vaulted ceiling that flows seamlessly into the dining area. The well-appointed kitchen boasts Quartz countertops and abundant cabinetry, making it perfect for all your culinary needs. Enjoy your morning coffee in the cozy enclosed sunroom.  Take advantage of the convenient laundry/full bath located adjacent to the kitchen and the oversized 2-car garage. On the main level, you'll find three comfortable bedrooms and another full bathroom. An open staircase leads you to the lower level, which features a second kitchen, a family room, an additional full bathroom, an office, and a bonus room currently utilized as a fourth bedroom. Storage is abundant here with built-in shelving  in the storage room and a separate walk-in closet, plus a second staircase that leads directly to the garage. The attached garage is enhanced with an epoxy-painted floor, while the impressive 32'x24' heated second garage/shop offers hot and cold water, multiple air compressor hookups, attic storage, a stereo system, an attic fan, and even a TV for your convenience. A covered porch and a 10'x12' room for lawn equipment complete this versatile space. A separate car `barn adds even more utility, while the spacious patio at the back of the home is perfect for fall gatherings. This home truly has it all—don't miss your chance to make it yours! $364,700 Active

1822 W 5th Street Jasper, Indiana

3 Beds 3 Baths 2,964 SqFt 0.96 Acres

Listing courtesy of BrendaWelsh from SELL4FREE-WELSH REALTY CORPORATION.

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1312 W Clover Street Jasper, Indiana

3 Beds 2 Baths 1,402 SqFt 0.35 Acres

Listing courtesy of GarySchnell from SELL4FREE-WELSH REALTY CORPORATION.

Welcome to 952 E 24th St in Ferdinand, IN! This delightful rambling ranch offers an abundance of space both inside and out, situated on a generous 3.24-acres +/-. Perfectly designed for your favorite hobbies, the fenced pasture invites a variety of outdoor activities. Surrounded by mature trees and a rolling landscape, this property is truly a must-see. Parking is a breeze with both a 3-car detached garage and an attached 2-car garage, featuring an extra set of stairs that lead directly to the basement. Imagine unwinding in the evenings on your swing beneath the charming pergola. As you step inside, you'll be greeted by an inviting family room boasting panoramic windows that seamlessly bring the outdoors in. The oversized kitchen is a chef's dream, complete with a walk-in pantry, a spacious island, and ample room for a dining table, perfect for gatherings. Adjacent to the kitchen, the den provides additional space for relaxation or entertainment. The main level also features three spacious bedrooms and one and a half baths, ensuring comfort for everyone. Venture downstairs to discover a massive open room, complete with a bar area—ideal for recreation and entertainment. The basement is also plumbed for an additional bathroom, adding to its versatility, and a laundry room conveniently completes this level. Don’t miss out on the opportunity to transform this charming country home into your very own sanctuary, all while being just a stone's throw from town. This is your chance to embrace the best of both worlds! $329,700 Active

952 E 14th Street Ferdinand, Indiana

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Listing courtesy of BrendaWelsh from SELL4FREE-WELSH REALTY CORPORATION.