Volume 2, Number 4 April 2004
Monthly Quote
"A good home must be made, not bought."
-Joyce Maynard (1953- ), "Domestic Affairs," Columnist and Author

Tip of the Month
Are you looking to do your spring cleaning before the beautiful weather gets too difficult to resist? You can make this annual job easier by following these tips before you clean:
Get organized. Making a list of the rooms in your home that you want to tackle, and the tasks to be accomplished within each room, will make the entire job easier. Also, make sure you clean each room fully before moving on to the next on your list.
Take stock. Make sure you have every cleaner, rag and mop you will need before you start cleaning to ensure an easy job with no snags.
Be comfortable. Wear old, comfortable clothes that you will not mind getting soiled. Cleaning itself is a dirty job!
Disconnect. Get rid of any distractions by turning off the television and unplugging the phone. Instead, try listening to some fun, energizing music.
Prepare. Put together a bucket of supplies you can carry from room to room, such as paper towels, furniture polish, an all-purpose glass and surface cleaner and rags. Also, bring a couple of garbage bags along with you. You can use one to carry garbage you find along the way and one to fill with items for charity.
Set the mood. Open the windows wide and let the sun shine in and the fresh air fill your home! The musty smells of winter will disperse and you will protect yourself from inhaling cleaning fumes and dust.
Don't Let the Down Payment
Bring You Down

Synopsis: In order to avoid the annoying private mortgage insurance, you need to come up with a 20% down payment. We will give you some tips to help ensure you get that 20% without too much stress.

Owning your own house can be considered part of the American dream, but having to cough up an additional $100 a month for a $200,000 house for private mortgage insurance is definitely an American nightmare. So, how can you avoid paying even more each month? If you are able to find 20% of the purchase price as down payment, that annoying monthly addition will go away.

A recent article on MSN.com proposed four simple steps you can take to prepare yourself for, and then actually save, the necessary amount you need for the down payment.

Step One: Get Motivated
It is impossible to be truly motivated about something unless you have an end in sight. In order to get the desire of home ownership fully established, try visiting a few places you would like to live so that you can have something in your mind's eye to work toward. You can even take some pictures of your favorite places and tack them on the fridge or on your desk!

Step Two: Get Budgeting
If you already have a budget, now is the time to review it. If not, now is the time to get one started. Review all your current spending (being realistic), and then work out what areas you can cut back on and how much you can start putting away in a down payment savings account. A few of the easiest ways to save money are to: improve fuel consumption by driving at 55mph compared to 65mph, clip coupons, make your own lunch, look into alternatives to driving to work and quite or reduce your drinking and smoking levels.

Step Three: Get Saving
It is best to open a special savings account for your down payment. Even better than a regular savings account is certificate of deposit (CD). By utilizing a CD, you will be forced to keep your savings in the account for a certain amount of time, and will therefore not be tempted to use the money for other things. You can even let friends and family know about the account as an alternative to traditional birthday and Christmas presents, etc. Another advantage of a savings account is that you can have a portion of your paycheck automatically sent to the savings account. You will not be able to spend money you never see!

Step Four: Get Debt-Free
Reduce the amount of debt on your credit cards. Ideally, you want to get to the point where you are able to pay off the entire balance each month. The last thing you want to do is spend money on high interest payments. You can also try calling your credit card company to see about reducing the rate you pay, most are amenable to this the first time! Once you have reduced you usual monthly payments through reducing your credit card debt, or finally paying off that car loan, still keep writing the checks for that amount, but put the money in your savings account; you lived without the money before, you can live without it now.