were on a single income +FTB A+B as im a SAHM and student for now until the kids go to school (about 5 years max)
anytips for manageing a mortgage on a single income?
Our lender said to do the sums and make sure you can afford for the interest rate to be 1% higher that it is now.
this wont help with the managing of your money but have you heard of the first home owners grantits a one time payment of 7000 that you dont have to pay back i'm not 100% of the conditions of getting it
but if neither of you have owned a home before you should be elidgable (sp)
dont forget the cost you will pay for home /contents insurance and those lovely council rates. Banks never tell you about paying those. Those only consider the repayment and not extras that come with owning a house. goodluck
I bought a budget program off the net for about $5! There are heaps of free ones, I just liked that one.
simpleplanning.com is the web site
So every cent we spend goes into a spread sheet along with all our bills. You can see ahead what a tough month looks like when all your bills come at once and plan for it. We love it and there are no arguments about the money and who is spending more as you can see it all!!
Hope that helps smile
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