I just love the questions. It is amazing how many people are wondering the same thing. By posting these questions, you not only help yourself, but others. Thank you for doing this.
Today I will answer the winning questions, then next week I will answer the remaining.
EmmyG was wondering how much you should have in savings. Emmy, it is best to have at least three to six months of expenses in an emergency savings account. However, this should not limit you. You can also have set-aside savings for things such as property taxes, vacations, or holidays.
Hosersgirl asked about the first time home buyer credit of $8,000 and how do you get it. I had to do some digging on that one. The first time home buyer credit is a tax credit that you will receive when you file 2009's tax return or if you are using the FHA program the credit will go to your down payment.
Thank you so much for these great questions. Stay tuned for the answers on the remaining questions next week. We will be contacting EmmyG and Hosersgirl to distribute their Corvallis Knights Baseball tickets for July 3.
Money Mom