As we adjust to new habits, a new school year, and the changing of the seasons, it’s easy to let our financial organization fall by the wayside. The truth is that now is an excellent moment to review and reevaluate your financial plans to reach your housing goals. The following are some simple steps that you may do to aid you in maintaining your organization and staying on track during this season.


Personalize the digital alerts from your bank

Your bank is supposed to notify you if your checking or savings account balance drops below $100 or when you are close to your credit card’s limit.

In order to avoid late fees and the risk of overdrawing your account, you can alter this limit by contacting your bank. Additionally, enabling notifications per purchase puts unnecessary spending in a different perspective.


Refresh your “wants” and “needs” list

Sorting your spending into “wants” and “needs” is a typical budgeting strategy. However, if your circumstances change, a “want” could turn into a “need”, so it’s wise to review your plan. For instance, if the only way you can get to your new employment is through driving, you might find that a car is a “need”.


Examine your emergency savings

As the cost of living increases, savings accounts are severely impacted. Your summer trip may have cost more than you anticipated. Perhaps an unexpected bill was caused by a car repair, a plumbing issue, or bad weather. Think about whether it’s necessary to add to your emergency fund. Ideally, it would pay for three to six months’ worth of expenses or revenue. However, over time, even a very tiny amount saved consistently makes a significant difference.


Have questions about saving for mortgages? We’re here to help at Three Rivers Lending. If you have any questions, don’t hesitate to get in touch with us. Contact us via email, by phone at (412) 203-3379, or through our contact form.