No one ever intends to break up, split up, or divorce. There are a number of reasons why couples do though and one of those reasons is because of finances. Before I got married, my wife and I talked about finances. I considered myself someone who had a good grasp of financials. My wife was an accountant and was very good with money. Luckily, from the very beginning we were on the same page financially. We both had careers; we…
You can learn a lot about a person by seeing what they do with extra cash they come across. I wrote that there are three things you can do with your extra cash: spend it, save it, or invest it. I’ve used a tactic that has been working well for me and my family when I come across extra cash. That tactic is live like you didn’t have it. When you are serious about trying to achieve financial independence, financial…
Have you ever wanted to be a real estate investor? That is buying property and renting it out? Do you ever wonder what real estate investing is like and if it’s something for you? You may have heard about the great things about real estate investing – having someone else pay your mortgage, making money each month, and having an asset that appreciates. Here are downsides to real estate investing. What you don’t hear about are the challenges with real…
If you own a home and haven’t taken advantage of refinancing to a lower rate or in the market to buy a home, the mortgage rates are at its best. I refinanced my home last year at 2.625% for a 10 year loan thinking that it was a great rate. And it is a great rate! One year later, I checked my credit union and saw that a 10 year loan is now 1.762%! I can’t tell you how much…
How great would it have been if you were taught about finances and how to handle money at an early age? I was never taught growing up and I feel I could be in a better place financially if I had been exposed to finances early on. Let’s teach our kids early. My daughter who is in middle school surprised me when she started asking me all these questions about bank accounts, interest, loans, mortgage, investments, taxes, real estate, and…
You may have heard the saying “Don’t put all your eggs in one basket.” Every time I talk about investments, the term “diversify” always comes up. If you only invest in one area, you’re not diversifying and you’re putting all your eggs in one basket. Diversifying your investments means investing your money in various areas. Here’s some reasons why you need to diversify. The market has taken a dive recently and you may have noticed your financial portfolio go down…
I think of myself as a pretty good savvy shopper. I try never to buy anything full price. I consider generic over name brand and I always ask if I can get a discount. What gets me most excited though, is the Buy One Get One (BOGO) Free. When I see a BOGO Free special, it gets me excited because I think it’s the best bang for the buck deal except when they’re free. You may see buy one get…
If you had multiple jobs and multiple employers and took advantage of a 401K (if they offered one), then you likely have multiple 401K accounts. First of all, just because they’re retirement accounts doesn’t mean that you should forget about them. If you’re in this situation, your old 401K probably wasn’t on your mind when you left for another job. If you had another job lined up, you might have been focusing on leaving your current job on a good…
You probably have wondered whether some purchases you make are worth it or not. There will be moments where you will regret it and there will be moments where you’ll say, worth every penny. Of course, the less regrets the better the decision. I write this because my family recently made an investment into getting a family dog. We bought a one-way ticket on the Pandemic Puppy train. It was a long and hard family decision. I knew there would…
What does money mean to you? How do you see money as? Is making money a primary focus or life mission of yours? One thing you need to do is change your money mindset. I grew up thinking that making money is the end goal. Be able to buy things, be able to live in a certain area, have a certain lifestyle and status, less worries, and more. As I got older, matured, and lived through life events, my mindset…