Are you getting the best rate of return on investment? Kiplinger's Personal Finance Magazine annually discusses ways to boost your investment yield in its latest issue. I have to say that I am always pretty disappointed with their recommendations. I love the magazine, but I didn't really care for a list of mutual funds and Exchange Traded Funds (ETFs). But, I wanted concrete ideas on how to earn a 10% annual rate of return on my investments. US Treasuries are earning less than 1% and money market funds are not fairing much better. Certificates … [Read more...] about The Ultimate Guide to Earning a 10% Rate of Return on Your Investments
Four Different Ways for Financing a Fixer Upper Home of Your Dreams
Remodeling your home can cost you a fortune if you’re not careful. This is especially true if you purchased a house that needs renovations and remodeling. But, you can find several smart ways of financing a fixer upper and saving you a pretty penny in the process. Financing a Fixer Upper So, how do you finance a home remodel? What are the ways for financing a fixer upper? Here are four ways that you can finance your remodeling project without breaking the bank. Taking Out a HELOC One way for financing a fixer upper is to take out a … [Read more...] about Four Different Ways for Financing a Fixer Upper Home of Your Dreams
The Dangers of Short Selling Your Home Are Enormous and Long Lasting
Selling your home with a short sale, which is selling it for less than you owe on your mortgage, not only takes a lot of time and energy, but it also as a lot of long-lasting consequences as well. There are many things that you should consider before going the route of selling your home for less than you owe on your mortgage. Here are a few reasons why short selling may not be a great idea for you. Short Selling Your Home Nukes Your Credit Score The only thing worse you can do to your credit score with respect to your home is having it … [Read more...] about The Dangers of Short Selling Your Home Are Enormous and Long Lasting
Pros and Cons of Paying Off Your Mortgage Early
One of the most significant financial events in an adult’s life is the moment when they pay off the mortgage on their home. It’s something we spend decades preparing for by faithfully making our payments on time and in full, month after month until the home finally belongs to us. As of 2017, 34% of Americans had 100% equity in their homes, which means they either paid off the mortgage or bought their homes outright and never had a mortgage loan in the first place. If you’d like to join the mortgage-free club in the future, there are many … [Read more...] about Pros and Cons of Paying Off Your Mortgage Early
Long Game Review – How to Turn Saving Into a Game
Americans are not very good about saving money, as the latest statistics from a Bankrate survey suggest. 19% of Americans don’t save anything, 21% of Americans save 5% or less of their annual income, and 25% only save about 6-10% of their annual income. Yikes! Combine these gloomy stats with the fact that about 40% of Americans retire with less than $10,000 saved up and a financial disaster is surely waiting to happen. Most people know how important it is to save money for unexpected expenses and long-term goals like retirement, so why are so … [Read more...] about Long Game Review – How to Turn Saving Into a Game
10 Things You Didn’t Know Bad Credit Affects
You know you should improve your credit score. You hear over and over again that having bad credit can affect your interest rates on credit cards and loans, but if you think those are the only things bad credit affects, think again. 10 Things You Didn’t Know Bad Credit Affects 1. Your Mental Health Did you know that psychological and social epidemiological research has linked household debt to higher instances of depression, greater feelings of stress, lower quality health, and higher blood pressure? This may sound obvious, but the … [Read more...] about 10 Things You Didn’t Know Bad Credit Affects
Can Your Credit Score Affect Your Dating Life?
Even if you’re single, your personal credit score matters to other people beyond just your landlord and lenders. In fact, a new survey from Discover Financial Services and Match Media Group (parent company of the Tinder dating app) found that 69% of the 2,000 people surveyed agreed that financial responsibility is an extremely important quality to them when it comes to finding a romantic partner. Surprisingly, financial responsibility ranked higher than a sense of humor (67%), attractiveness (51%), and ambition (50%). What does this … [Read more...] about