Budgets are not fail-proof approaches to managing your money. At the end of the day it requires effort on your part to make it work. I know that my wife and I have struggled in the past to keep and stick to a workable budget. While traditional budgets are effective for some, most people still find themselves spending money on whatever they want rather than depositing their extra money in their savings account.
Read more on What is Zero Based Budgeting and How to Create a Realistic Budget…
Tags: Budgeting
If you are in the process of purchasing a home and haven’t been able to save the necessary down payment then it is important to research alternative sources of down payment funding to choose the most affordable method. While some prefer to secure a second mortgage and private mortgage insurance, others, like me, prefer cutting the expense of PMI. If you are asking yourself “can I use my 401k to buy a house” it is time to start researching your options. Always compare the cost of using your retirement account balance to other sources of funding and make the best decision based on tax implications and financing rates.
Tags: 401k/IRA · Personal Finance
Several years ago I had the opportunity to buy a rental property. It was a duplex that a friend of mine was living in. He was living in one side and renting out the other. He and his wife were about to move out of town and needed to sell his property. Long story short, we settled on a price that we both could live with and we began the process of transferring the ownership.
Read more on Buying a House with No Money Down and Why I Wouldn’t Do it Again…
Tags: Building Wealth · Personal Finance
Cleaning up a pile of debt can be a long and difficult process. Over the years, I have successfully eliminated my school loan debt, credit card debt and the inevitable car loans. However, it was not easy and required much sacrifice and many years to accomplish. My wife and I are determined to never have a car loan again. We drive highly reliable used vehicles and we are quite content with this fact. Sure, we would like to drive new vehicles but we now know what it is like to have the freedom of not having a car payment.
Read more on Reasons why Getting a Car Loan After Bankruptcy is a Bad Idea…
There was a time when almost all businesses and large corporations offered medical benefits as part of an employee’s benefits package. Now, due to the rising cost of health care a large percentage of employees are forced to invest in individual medical insurance because their employers do not offer such benefits. Whether you are an employee or are self-employed and you carry your own individual health insurance policy you may want to educate yourself on health savings accounts pros and cons. HSA accounts can become a powerful financial vehicle for individuals enrolled in a High Deductible Health Plan. Understand the advantages and disadvantages argued by proponents and opponents of HSAs and decide if an HSA is the best way to pay for qualified medical expenses.
Read more on Health Savings Accounts Pros and Cons To Consider…
Tags: Personal Finance
Car loans for bad credit borrowers have become extremely prevalent in today’s economy. Many potential borrowers are faced with the fact that traditional financing is simply not available without exceptional credit. Unfortunately, the vast majority of consumers do not have the type of credit that will allow them to obtain a traditional bank loan, which includes the lowest possible interest rate. In the meantime, consumers have to look at alternative methods to finance an automobile, which has become a necessity since it is nearly impossible to obtain and keep gainful employment without reliable transportation. The exception is of course cities with a proven public transportation system.
Read more on Reasons to Avoid Car Loans For Bad Credit Borrowers…
Tags: Cars
If your credit is somewhat sketchy then it is more than likely due to the fact that you have had trouble with debt or even paying bills on time in the past. So, purchasing a car could be a difficult process with a bad credit history. The focus of this site is to show you ways to get out of debt and build wealth so here are some alternatives to buying a car with bad credit.
Tags: Cars
Living paycheck to paycheck is a trap that can seem virtually impossible to get out of. The good thing is that the situation may not be as bleak as it first seems. Make no mistake, you will need to get to work on improving your situation but with a little diligence it can be done and can possibly improve in as little as a few short months.
Read more on Creative Ways To Stop Living Paycheck to Paycheck…
Tags: Budgeting