How To Live Debt Free … Part 9

This week...snowballing and stacking Snowballing is that you list your debts in order of lowest dollar amount owed to highest dollar amount owed. You pay every extra penny you have toward the weakest while paying only the minimum monthly payment on the rest.   When one debt is paid, you take the money you were [...]

By |2019-08-18T19:57:29-04:00November 25th, 2018|Money Management Tips|0 Comments

How To Live Debt Free … Part 8

This week…How do we actually budget??   Is what’s coming in more than what is going out? How much is left over at the end of each month? You’ll have at least that amount to start paying off debt. We want to make that number higher and we will, but it’s good to see we at least [...]

By |2019-08-19T08:27:08-04:00November 18th, 2018|Money Management Tips|0 Comments

How To Live Debt Free … Part 6

This week…the medium stuff and interest rates   The medium stuff There are specific products and services that have various providers that we probably aren’t getting the best deal we could. It pays to shop around.   How many television shows do you watch? It’s probably just a handful sprinkled across just a few channels. [...]

By |2019-08-19T08:28:29-04:00November 4th, 2018|Money Management Tips|0 Comments

How To Live Debt Free … Part 5

This week…the small stuff - daily habits, shopping, and gym membership   The small stuff This is only for those people in debt. If you’re just looking for more money to invest or save, you don’t need to watch every cent and never buy little things like coffee on the way to work. But if you [...]

By |2019-08-19T08:29:05-04:00October 28th, 2018|Money Management Tips|0 Comments

How To Live Debt Free … Part 4

 Food If you keep a budget, and you should, you’ll probably see this category as one of your biggest money hemorrhages. If you aren’t tracking your spending, start now. You’ll likely be surprised and maybe horrified at how much you spend here.   Maybe you don’t like to cook; some people don’t, so you eat [...]

By |2019-08-19T08:29:41-04:00October 21st, 2018|Money Management Tips|0 Comments

How To Live Debt Free … Part 3

Housing The rule of thumb is that your housing expenses should be no more than 30% of your income.  Most of us are spending closer to 50% of our income on housing. If you’re among them, it will be almost impossible to get out of debt and start saving for your future.   Even if [...]

By |2019-08-19T08:30:16-04:00October 14th, 2018|Money Management Tips|0 Comments

The Income Rule

This week…why net worth is more important than income.     Why Net Worth Is More Important Than Income:  Most people interested in personal finance have a goal to build wealth so they can have options, whether it's traveling, switching careers, or simply retirement. In making that happen, it's important to focus on income – [...]

By |2019-08-19T13:29:56-04:00September 16th, 2018|Money Management Tips|0 Comments

Homeownership – The 20 Percent Rule

This week…homeownership     According to this rule, you should put at least 20% when buying a home.   Why It Works: It ensures you don't spend more home than you can afford, it can lower your monthly mortgage cost, and it can increase your chances of being approved for a loan.   When It Doesn't: While this [...]

By |2019-08-19T08:32:18-04:00September 9th, 2018|Money Management Tips|0 Comments

The 20/4/10 Rule of Thumb for Buying a Vehicle

This week…saving towards a vehicle.     Buying a Vehicle - The 20/4/10 rule   When buying a car, you should put down at least 20 percent. You should finance the car for no more than four years and spend no more than ten percent of your gross income on transportation costs.   Why It [...]

By |2019-08-19T08:29:22-04:00August 26th, 2018|Money Management Tips|0 Comments

Financial Independence…Part 3

So how do we calculate your Financial Independence Figure?  Written as a formula it is:   Investment Income > Personal Financial Needs   Investment income is the money you receive from investment assets like real estate, stocks, and bonds (refer to articles on Passive Income). When your investment income exceeds your personal financial needs, you [...]

By |2019-08-19T12:50:40-04:00May 13th, 2018|Money Management Tips|0 Comments