Many grandparents lived in a time when there were limitations, restrictions or shortages of the most common goods. Mortgages were not as readily available for those of modest means. There are at least 7 things you can learn about mortgages from your grandparents. This is advice that you should take notice of, especially since the barriers to obtaining a mortgage are more numerous than ever.
Money Does Not Grow on Trees
Senior citizens have memorized a number of great sayings that help guide people make prudent decisions like I never promised you a rose garden. Younger generations should listen carefully in order to make their lives easier.
Be Frugal: Save Money
The first rule of thumb for grandparents was to be frugal. No one is guaranteed a nice plush job, income or residence. If your family members were raised on farms, they understand this mentality all too well. Rising early in the morning and working in any type of weather was a necessity. Live within your means and be careful about your debt levels. In today’s economy young people are being encouraged more than ever to save and get on the property ladder.
Second-Hand is OK
What are the best things you remember about your grandparents? Was it some fancy, expensive watch or was it grandma’s cookies or grandpa’s pipe? Some of the best things in life are low cost. Second-hand is acceptable and allows you to save up money for more important expenses. What your grandparents won’t have had access to, however are websites such as ebay and Gumtree which are full of second hand bargains from across the world.
Celebrate Family Days
Birthday, anniversaries and weddings are great times when all of your relatives get together. Some of these folks you won’t see for years. Grandparents have created a strong family and can now enjoy the fruits of their labor. Remember to share your home with your loved ones.
Rainy Days Are Part of Life
When you have the perspective of a long life, you understand the ups-and-downs of existence. There will be good days and bad days. Your garden won’t grow as well without “April showers.” So prepare your life with a rainy day fund allowing you to enjoy the “May flowers.” Up to 60% of us are unprepared for unexpected expenses. Make sure you don’t fall into the majority!
Plan for Long-Term
Wisdom, caution and prudence can allow you to enjoy the better things in life. Look through old family photographs. Was your grandparents’ first automobile the top of the line? Probably not. Make sure you save money now, so you can spend more later in life.
Persistence Wins in the End
Your grandparents budgeted for the long-term. Eventually, they could purchase the finer things in life. Make sure to carefully plan for important financial duties like your mortgage. You can use one of the many online resources to take the guesswork out of your budget. Get a mortgage that withstands the test of time. Grandparents have worked hard and seen many changes in their lives. They have been patient, cared for their families and now can enjoy their “Golden Years.” Find a good mortgage matching the prudence learned from your grandparent