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Portsmouth New Hampshire Buyers and Sellers - Tips To Being Debt-Free


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DEBT-Free!! Who doesn't want that??



We all know how hard it can be to manage our own finances. Been there, done that! I just didn't know how, until someone showed me the way, and I've never looked back since that turning point.

I've been doing a lot of reading lately about ways to achieve a debt-free status, or pretty close to debt-free. From that reading, I put together these tips to help all of us. For those looking to to buy Portsmouth NH real estate, or homes and condos in any of the surrounding Seacoast areas of NH or Maine, getting rid of debt will certainly help, especially with all the changes in the mortgage guidelines lately.


Here are 7 tips that may just help you find your way to being debt-free, if that's your goal:

  • Pay your bills when they're due every month - this is so hard to do at times, but it's so very important to not pay your bills late & rack up late fees and credit blemishes.

  • Learn to live on less than you make - you must learn to put some money aside in order to have money in the bank.

  • Think twice before whipping out that credit card - if you use credit, have a plan for paying off your balance(s). It took me a LONG time to pay off my balances that I had built up, but I did, and I now pay my balance off every single month.

  • Have a plan for where and what you'll spend your money - you need to know how much you make and how much you need to live on. You may need to make a change in your spending habits if you want to be debt-free.

  • Set up a savings account for emergencies - 3 to 6 months' of basic living expenses is what is recommended. You never know when you'll need to replace an appliance or when you might be out of work. Start small and build this account up.

  • Have financial goals - if you don't have goals, you'll never get where you want to be. You should consider setting both short-term and long-term goals to help you achieve not only debt-free status, but those goals will also help you go forward toward building that nest-egg for your retirement.

  • Learn how to make your money grow and work for you - take classes, read books and investing magazines, find a great financial planner - make your money earn more money!

Money in the bank


I've walked in the same shoes as those looking to be debt-free - and I can very proudly say I am DEBT-FREE, except for my mortgage! I pay my credit card balance off every month, I learned to live under my means, and I can tell you it's a very satisfying feeling to know I have money in the bank.


Here's to your success in achieving the same satisfying feelings!!


If you're interested in pursuing homes, condos, real estate in Portsmouth NH and/or the surrounding areas, make sure you speak to an experienced professional REALTOR who'll work hard to help you achieve your real estate goals. Give me a call or send me an email - I'd love to talk with you!

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Ann Cummings, New Hampshire REALTOR
Broker - NH and Maine
RE/MAX Coast to Coast
Portsmouth NH
ann@anncummings.com
888-349-5678 x 3839
Servicing the Coastal Areas of NH & Southern Maine REALTOR



Ann Cummings New Hampshire REALTOR

Posted Wednesday Feb 20
( 02/20/08 09:59PM ) — Gary Bolen (CRS) Lake Tahoe Real Estate Information

Good information here Ann. We were hoping we could find a magic wand that would erase all digital memory of anything associated with our plastic cards. Suspect that won't happen and your way is best.

Cheers 

( 02/20/08 10:41PM ) — janeAnne, Asheville's "Green-o-Lina" ECO Certified Real Estate Consultant

Ann~ 

 You know how to unearth treasures...including this very wise advicde. Speaking of unearthing treasures...Do I ever have some LAND for you!! =)

( 02/20/08 11:57PM ) — Wilmington NC Real Estate & Relocation~ Ginger & Roger Sala

Ann, Learn to live on less than you make? that is so Un-American! LOL!

( 02/21/08 01:11AM ) — Fort Worth Real Estate - - - Karen Anne Stone

Hi Ann:  If only each of us had the power and personal inititive to follow your list... the resultant change in our country's "Consumer Confidence" would be miraculous.  Unfortunately, so very many people are currently living paycheck to paycheck, and living their lives about as close to the edge as ever.  Thanks for sharing.

( 02/21/08 04:25AM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Gary - you and probably a lot of other people have been hoping that same thing, and if only it could happen!

janeAnne - land, huh?  We'll be there at some point this summer, and we are so looking forward to it!

Ginger - that's a hard one for sure, isn't it??

Karen Anne - can you just imagine how high consumer confidence could soar, if only..... wow!


Many thanks for the comments!!
Ann

( 02/21/08 07:19AM ) — Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate

Ann, great recommendations. I usually am debt free, until we hit the cold months up here. I like your buttons, how did you do them?

( 02/21/08 07:25AM ) — Bill Gassett Metrowest Massachusetts Real Estate

Ann- Like yourself one of my strengths has always been money management and finances. These are excellent recommendations. There are a lot of folks that have a hard time staying on top of thinfs, especially when it comes to money.

( 02/21/08 08:11AM ) — Monika McGillicuddy~REALTOR®~ N.H. Real Estate Broker & Trainer

Great tips Ann...now if only people will follow your advice.

Stay warm!! 

( 02/21/08 12:22PM ) — Jeff Rogers

Love the fact that your blogs provide such good information for more than just real estate.  I have been recently trying to get out of debt.  I like to read as much information I can.  Thanks for the blog.

        Real Estate Agent: Jeff Rogers-Remax Mountain Views Realty (Remax Mountain Views Realty) 
       www.therogersrealtor.com

( 02/21/08 06:55PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Hi Linda - so glad to see you here!  I know it took me awhile, long while, to learn it.  We weren't really taught all that much about money growing up, my parents didn't have much as I was growing up.  My dad was moving up the ladder as I was growing up, but they never really had much until later on.  So I guess that's why it took me/my sisters some time to learn whatever we've learned.  I wish this had been taught when I was in school....I could have saved myself so much worry and heartache, and money.

Ann

( 02/21/08 06:59PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Missy - other than my mortgages and normal montly bills, I am debt-free.  I just paid my car off today, too.  Did it 2 years early at that!  This market has no doubt put many agents in a little debt who weren't there before.  Keeping my nose above water here as best I can!

Bill - as much as I would love to call those strengths of mine, I must admit they really aren't.  I had dug myself into a financial hole years ago, and it took ALOT of hard work and commitment to get myself out of that.  My honey is the one who helped me do that a number of years ago.  Fear is what keeps me from going back that way - I don't ever want to find myself in debt like that ever again.  Fear is a strong motivator.


Ann

( 02/21/08 07:07PM ) — George Souto

Ann, excellent advice.  You are able to say what everyone one would like to say.  That has to be a tremendous feel.

( 02/21/08 07:09PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Monika - I walked a few miles in those other shoes, and I refuse to go back to that.  That fear motivates me to not ever go back that way again.

Jeff - keep working on it and you'll get there.  I know from firsthand experience that it's not easy but it is so worth it!  I'll be pulling for you!!


Ann

( 02/21/08 07:13PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Hi George - you have no idea how great it feels!  I worked very hard getting myself out of the hole I had put myself in, and I'll ever tell someone it won't be hard and frustrating, but when you do it, what a terrific feeling to see where you've been and where you are.  I am so proud of my credit scores and what I did years ago to be where I am today.  And I really do have my honey, Bear, to thank for helping me see my way through where I was back then.

Thanks!
Ann

( 02/21/08 08:36PM ) — Classic Property Management Jonathan Mitchell

I would add one more item to your list... Read "Rich Dad, Poor Dad" by Robert Kiyosaki (spell check?).  If you have not yet read this book, it is a must.  Great advice!

( 02/21/08 10:09PM ) — Judy Tuscano, NH Real Estate Professional

Ann. This is great advice and I am glad to say I am heading in that direction.

( 02/22/08 02:21PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Hi Jonathan - thanks for that suggestion.  I have not yet read that book but I now have it on my 'must-read' list.  I've heard about it for awhile now, but you've prompted me to move it up on my list.  Thanks for that suggestion.

Hi Judy - good for you!!!!  It really is not an easy thing to do, but you can do it!  I'm proof of that.  Good luck to you.


Ann

( 02/23/08 02:45AM ) — Jason Sardi, Mortgage Banker

Ann - I think you just wrote what I believe should be required reading in high school, college, and heck....life in general!  There's a beauty in what you speak of here, making finances one less worry in this here life:-)  Nice work!!

( 02/23/08 06:49AM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Hey Jason - well that's quite a comment, and thank you!  I wish I had been taught that kind of stuff growing up, so I wouldn't have had to go through what I did.  But then again, if I hadn't gone through that myself years ago, I wouldn't know what's it like to dig oneself out and know that feeling of reaching the light at the end of that particular tunnel.  And it's terrific to be debt-free, and if I could do it, I know others can as well.

Thanks for that comment - it means a lot!
MWA!!
Ann

( 02/27/08 07:07PM ) — Gena Riede, Real Estate Broker Sacramento CA Real Estate (916) 417-2699

Ann, good sound advice from the best Portsmouth, NH Realtor. Let's hope that more people read and apply this standard of living.

( 02/27/08 07:38PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Hi Gena - it is good advice, and I've lived it myself so I know it can be done!!

Ann

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