Basics of budgets

To help you get ongoing, here are some resources basics that have been tried and experienced over the years:
1. Recognize what bills are due and when.
2. Recognize how you waste your money. Get in the habit of saving receipts.
3. Plan for large periodic expenses such as property taxes (if they're not paid by the lender), homeowners insurance, and car insurance. You should also plan ahead for major purchases rather than making impulsive decisions. Whenever you purchase anything on time, look carefully at the financing terms, including the annual percentage rate (APR).
4. Budget for regular maintenance and unexpected repairs. Some experts suggest budgeting one percent of the purchase price of the house for annual maintenance and repairs.
5. Hold to a regular savings plan. Many financial advisers suggest saving five percent of your take-home pay.