i need some advice on saving money to buy a house in two years or condo next year. one more i would like to open a salon in about 3 years time how much will it cost?
2006-08-17 03:36:02 · 5 answers · asked by Cat 4 in Business & Finance ➔ Other - Business & Finance
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2006-08-17 03:42:51 · answer #1 · answered by GillSev 3 · 0⤊ 0⤋
You will need money to put down to get your home or business loan.
on the home loan the down payment is ussually 15%
(on a house that costs $100,000, this would be $15000)
If you have $0 now,you would need to save $625 per month to have that amount in 2 years.You will actually need more than that, because of closing fees and such.
To save the money, take the amount you intend to save out of your paycheck first, before you spend on anything else. Put it in a seperate bank account and don't touch it ,no matter what comes up.
Next pay all your bills(they will not give you a loan if you are behind on your bills)
After your bills are paid the rest is yours to do with as you wish
2006-08-17 10:57:07 · answer #2 · answered by James A 4 · 0⤊ 0⤋
The first thing is budget them down. set your financial goal and working on it, spending less than what you make, stick to your plan. take the second job if you have to. set aside for 10-15% for your 401k
2006-08-17 10:43:51 · answer #3 · answered by Hoa N 6 · 0⤊ 0⤋
You will need to get a loan, most financial institutions will provide home loans and the SBA will help you get a business loan.
2006-08-17 10:41:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Depends on the size of the solon and the size of the house. If I were you I would talk to someone at SCORE if you are in the US.
2006-08-17 10:42:58 · answer #5 · answered by Today is the Day 4 · 0⤊ 0⤋