Three Financial Errors To Avoid

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?

Use our site to search homes for sale in Jasper, Dubois, Spencer, Martin and Davis counties and all of our surrounding areas. Unlike the “big name” sites out there, at Sell 4 Free Welsh Realty our site is directly connected to our local MLS and is updated with new homes every hour. By signing up for New Listing alerts you can stay on top of the newest homes for sale and get price change alerts so you can stay ahead of other buyers and beat them to the hottest deals!

Start your Home Search now

Popular Jasper Indiana Home Searches:

Newest Homes for Sale in Dubois County

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

Step back in time with this nostalgic 1954 Stone ranch home, offering timeless charm.  From the Breezeway to the retro kitchen, this home Features 3 bedrooms and 2 full baths. This one of a kind residence includes a one-car garage for you convenience.  Inside, you'll find all the furniture is included but sellers are willing to remove it. The large living room has a full wall of stone with a gas log fireplace.   The basement has a curved brick fireplace and a bar with lots of sitting space. Patio area off the breezeway provides outdoor Embrace the character this home invites as you enjoy the simpler era. $219,000 Active

1015 Dorbett Street Jasper, Indiana

3 Beds 2 Baths 2,718 SqFt 0.310 Acres

Listing courtesy of Brenda Krempp from RE/MAX Local.

Welcome to your dream home! This inviting 3-bedroom, 1.5-bathroom home is perfectly situated on the edge of town, offering the perfect blend of tranquility and convenience. The large, insulated, and well-lit attached garage measures 27’ by 32’, providing ample space for vehicles, storage, and hobbies! Relax and entertain on the brand new front deck or the stunning two-level back deck, perfect for enjoying peaceful evenings and gatherings. Other updates include brand new dishwasher, additional insulation - December 2023, water heater - 3 years old, refrigerator - 3 years old.  Don’t miss out on this beautiful home! $249,000 Active

212 E 23rd Street Ferdinand, Indiana

3 Beds 2 Baths 1,284 SqFt 0.840 Acres

Listing courtesy of Courtnay Begle from RE/MAX REVOLUTION.

Location, Location, Location!  Right in the center of town, this house is close to shopping, restaurants, and activities.  This spacious Jasper home can be also used as a duplex.  New flooring throughout. The main level features a kitchen including the refrigerator, range, and dishwasher, 2 bedrooms, a full updated bathroom, laundry room that includes the washer and dryer, and living room.   The upstairs features a kitchen including the range and refrigerator, full bathroom, living room, 2 bedrooms including a walk in closest in the main bedroom along with a window unit.  The seller is offering a home warranty for piece of mind. $199,000 Active

1328 N Newton Street Jasper, Indiana

4 Beds 2 Baths 2,164 SqFt 0.130 Acres

Listing courtesy of Stacey Hurst from RE/MAX REVOLUTION.