Preparing Financially for 2014

Is it too early to start thinking about another year? Many would say it is, since we are only just completing the summer months. Halloween is still a long way off, let alone the idea of Christmas and another year beyond it.

That’s why it works so well to think about your financial goals for 2014 now. By the time the whirlwind of the build-up to Thanksgiving and the festive season is past, there is no time to prepare for the New Year. It’s all we can do to relax and enjoy some downtime after the hectic build-up we subject ourselves to every year.

Looking back

If you are determined to be financially prepared for 2014, it makes sense to look back first. How have your financial goals panned out for this year so far? Did you have any goals? Did you stick to them? Did you let them slide two weeks into the New Year?

Whatever your answer is, don’t worry. There is always room to improve. Just as diets don’t always have to start on a Monday, good financial habits don’t always have to begin on New Year’s Day. In fact this is why we think it is a good idea to start planning ahead now. For starters you can make sure you save for the festive season, instead of starting the New Year in debt. This is not the best financial habit to develop for the year ahead, so start as you mean to go on and develop good habits from now onwards. If you do they will get you off to the best possible start as 2014 approaches.

Looking ahead

Most of us have goals for a New Year. However since we are looking into your financial preparations, you should consider what your financial goals will be. Will you take advantage of saving money for the festive season now so you can start the year anew without any debt? Consider your goals today and think them over as you go through the final few months of the year.

Very often, preparation is the one thing that can make or break a goal. This is why we suggest preparing now instead of waiting until the festive break to think about your financial goals for 2014. By getting ahead of the crowd you can still enjoy your festive vacation when it finally arrives, knowing full well you are prepared and ready for anything that may come your way financially.

When you think about it you’ll see this is true. You can end up making half-hearted plans if you leave it until the Christmas period to create them. It could be the worst thing you ever do. Whatever financial situation you are in, whatever debt you have and whatever level of income you earn, there are always solutions and goals to be found. The trick is in preparing to find them and meet them, so you can enjoy a healthier financial situation long into the future.

Editions TV Show Looks at 4 Reasons to Buy a Second Home

Right now, the real estate market is considered a buyers market.  Over the last few years, home prices have fallen dramatically in most major markets, and interest rates on home loans are the lowest on record.  Both of these reasons makes it a really good time to buy real estate. You can find amazing country houses for sale.  However, what if you already own a home?  Should you buy a second home?

Editions TV with Terry Bradshaw looks at some major reasons why now is the time to consider buying a second home.  For many people, they go to the same few places all the time on vacation, and this can be a great reason to buy a second home.  But what other factors are there to consider?  What should you know?  Here are some of the key things to think about when considering buying a second home.

The Financial Implications

The first thing to consider about getting a second home is the financial implications of it.  As mentioned earlier, right now, home prices and interest rates are both very low.  This can make it financially easier to buy a home than it would have been in the past.   However, as Editions TV show points out, it can be incredibly difficult to get a loan right now.

Lenders are being very strict with who they lend to.  In order to get a loan on a primary residence, not even a second home, borrowers have to have impeccable credit, with very high credit scores.  As such, you may have to put much more down on a second home, or even pay all cash.  However, since prices are low, this can be a good investment.

 Editions TV on Family

Family is important to most people.  And having a comfortable place for everyone in the family to get together at is very important.  Having a second home can also be a second home for the entire family.  This can be a place where birthdays and reunions happen, or even fun family events like Thanksgiving or Christmas.  When you have a second home, it is more than just a place, it can be a meeting place for the whole family, who can hopefully enjoy it for years to come.

A Home Away From Home

Plus, having a second home can be a home away from home for you.  Instead of staying in a hotel, staying in a second home should be much more comfortable.  With a second home, you can decorate it exactly how you would want to.  You can furnish it with your belongings, and put up your family pictures.  That way, when you stay at your second home, it is just like being at your primary house.  That really makes it a much more comfortable place to stay than just any lodge or rental house.

Plus, when you have your own home, you can cook and have all the amenities that you’re used to having.  This can make it much more comfortable than a hotel room or something similar, and can be great if you plan on having family over.

Making It A Smart Investment

Finally, Editions TV with Terry Bradshaw believes that you can make getting a second home a smart investment.  First, if you travel a lot, look at how much you spend on hotels and lodging for the year.  Then, look at what the cost of a second home would be?  If they are close, why not invest in a second home that would probably provide you with more amenities that you would normally get while you’re traveling.

Second, a second home can be a good source of income when you’re not using it.  If you are thinking about getting a second home in a tourist area, you can leverage that home to be a vacation rental when you’re not using it.  There are many vacation rental firms out there, and they can handle the logistics of it while you just enjoy getting a paycheck when you’re not there.  And when you want to stay there?  You just let them know.