Allegacy Federal Credit Union’s Post

Should you Lease or Buy your next car? Here are some important things to consider for your situation. Talk to your financial planner about your long-term outcomes and what might be right for you. With our experience, we can be on your side to ensure your next car deal is as smooth as possible. This is real-world advice. #talktoacfp #money #advice

Purchasing an auto today can be a major financial commitment with higher prices and interest rates along with all the other hidden costs that can come along with it pointed out in this read. The key is to do your research, plan with your spending plan in mind, and don't rush into anything. We can help you evaluate financial decisions like this and many others to make sure you are on track with your financial goals and dreams. #empeople #financialgoals #spendinghabits

In this post, we'll explore how to determine how much you should spend on a car and provide some tips on making a smart financial decision. Learn more: https://lnkd.in/e6xUJY9e #carbudget #howmuchshouldispendonacar #financialliteracy

How do you determine your financial goals?🤔 The golden rule is Think “SMART” (explained below) ✅Specific: Your goal should be clear and well-defined. Instead of just having a desire for a car, think of a specific model, like the Kia Seltos. ✅Measurable: Attach a measurable aspect to your goal. For example, if your dream car costs around Rs 10 lakh, plan for a 50% down payment and a 50% loan. ✅Achievable: Ensure your goal is within reach. If you can save a certain amount per month and are eligible for a balance loan based on your income, the goal can be achieved. ✅Relevant: Make sure that buying a car aligns with your life goals, values and dreams. ✅Time-bound: Set a deadline for achieving your goal. For example, 3 years or 5 years. 📢If you need assistance in crafting your financial goals, connect with our financial advisor. (Link in first comment below)

***Want to sell your home to move into another one but worried about the high interest rates? I know something you can use to counter those 7% rates that doesn’t involve buydowns or 40 year mortgages! 🏡Home Equity Line of Credit (HELOC)!! What is a HELOC? It’s when you use the equity in your current home to make purchases. How does this come into play as a positive? If you’ve paid off a large amount of your home already, you can use this as a massive down payment to purchase your next home. Having a higher down payment lowers your loan amount and lowers your payments overall. What happens with the equity you just borrowed to put towards that next home that has to be paid back? You list your old home and pay it back in this seller heavy market which could also sell for more than what you paid for it originally. Want to learn more? Message me for details! No matter what, talk to your lender and see if a HELOC makes sense for you.

Setting a budget for the year is an important part of achieving your financial goals. Whether that's buying a house, investing, or paying off debt, you need to know what you're spending to get ahead. Check out our free workbook! I am here to help you with your 2024 Financial Goals.

Trying to decide whether to buy or rent a home? There are 4 important questions you should consider.

Purchasing a home is one of the most significant financial decisions many individuals make in their lifetime. It involves a substantial investment of money and requires careful consideration to ensure long-term financial stability. To navigate the complexities of the home-buying process, it’s essential to be well-informed about the various financial considerations involved.

Trying to decide whether to buy or rent a home? There are 4 important questions you should consider.

Nice informative post Gina. A buyer should know where they stand step by step. This is the first