I think many people go through life without a financial plan. If you look at all of the foreclosures happening, a lot of these people jumped into home ownership without thinking if they could afford being a homeowner. Or becoming a stay at home mom when living on two incomes is already difficult.
Suze Orman shares How to plan for tomorrow in Oprah's magazine.
Anticipate- If you do an adjustable rate mortgage make sure you can afford the highest rate. Or consider saving for a larger down payment so you can actually afford the house.
Address - If you do get yourself in a financial mess, own up to it. Make a plan on how you are going to get out of it. Money problems are a leading cause of marriage problems. Address them together as a couple and don't stick your head in the sand.
Adjust- What steps can do you do to get out of this financial mess? Can you starting working part time if you are a stay at home mom.
Be smart about your money and doing some planning can really help you avoid the squeeze.
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