This question has plagued financial planners for years. Should you pay off debt, or should they start a retirement account first? This assumes that the same amount of money is involved in each transaction. We will use $5,000 for our examples. Below we will take a look at the pros and cons of each option, and give our opinion. Paying Off Debt First Paying off debt is a great way to use a lump sum of money. Being in debt can be burdensome to the individual in debt, and feeling like you are never going to get out can be awful. If you do not have … [Read more...] about Which Is First: Paying Off Your Debt Or Investing For Retirement?
Archives for April 2012
Reader’s Question: Do Single People Need Life Insurance?
Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured a future week’s blog post. If you're not familiar with Dave Ramsey's book, you should run right out and get it. It is one of the best personal finance books that everyone should read. Now....on … [Read more...] about Reader’s Question: Do Single People Need Life Insurance?
Money Q&A Interview On KGO 810AM San Francisco
I was recently interviewed two weeks ago on KGO 810AM San Francisco. This was my first interview talking about money matters and consumer savings tips. I was interviewed about the article that I wrote detailing how to save money on my moving expenses. It was great and a lot of fun. I have included a copy of the Mp3 below for you to hear it. It is a quick eight minute interview covering some great moving tips. Click to play - KGO 810AM San Francisco Interview - "How To Save Money On Moving Expenses" If you cannot hear the WAV file, here is … [Read more...] about Money Q&A Interview On KGO 810AM San Francisco
When A Restaurant Menu Isn’t Just A Menu
I was in Memphis, Tennessee last weekend, and I went to a quaint little restaurant called the Blue Plate Cafe near my hotel downtown. I had read some good reviews about it on Yelp, and it was also recommended by some people on Foursquare as well. I love finding great places to check out on Foursquare, getting discounts, and checking in at different places. So, when is a restaurant menu more than a simple menu? When it makes you think, and that is exactly what the Blue Plate Cafe’s menu did. It was shaped like a small newspaper or … [Read more...] about When A Restaurant Menu Isn’t Just A Menu
Dangerous Dog Breeds And Your Insurance
If you have applied for a homeowner's insurance policy in the last ten years, you may have been surprised when the insurance agent asked you if you have any pets. Specifically, they are looking to see if you have any dog breeds that the insurance company deems to be dangerous. In fact, many insurance companies limit coverage to dog owners, and may deny coverage all together to owners with certain breeds. Why Insurers Hate Dangerous Dog Breeds While many consider insurance companies refusing to insure individuals with certain breeds, the fact … [Read more...] about Dangerous Dog Breeds And Your Insurance
Benefits Of High Deductible Health Insurance Plans
A high deductible health insurance plan is just like what it sounds like. It is a health insurance plan that has a high deductible and is designed to provide for catastrophic coverage in case something happens to you. It is a viable option for people who are struggling to find health insurance at a reasonable price. How High Deductible Health Insurance Plans Work High deductible health insurance plans usually have lower premiums and higher deductibles than standard health insurance plans. Usually high deductible health insurance … [Read more...] about Benefits Of High Deductible Health Insurance Plans
Filing Too Many Small Claims Can Hurt You
You purchase home insurance to protect yourself if something major goes wrong such as a pipe that bursts, there is a fire, or some other peril. In fact, most mortgage companies require you to have homeowner's insurance if you have a mortgage on your house to protect their stake in your home as well. However, insurance companies are not in business to pay out too many claims. They would quickly find themselves out of business if they did that, and they take a negative view on customers filing too many claims in a short period of time as well. … [Read more...] about Filing Too Many Small Claims Can Hurt You
The Dangers Of 401k Loans And Your Retirement
If you are in a financial bind, seeing the money sitting in your 401k retirement account can be tempting. It is a tempting source that you may consider tapping in order to help alleviate some of your financial problems. However, your 401k retirement plan is there to be your safety net in retirement. Your 401k is not designed to be your emergency fund now. It may seem like it is not a big deal because you are essentially borrowing the money from yourself with interest, but it does not really work that way. There are dangers of 401k loans. … [Read more...] about
How to Make Preparing to Apply for a Mortgage Go Smoothly
There are a few things that you can do to make applying for a mortgage go more smoothly and give yourself a better chance of success. By preparing to apply for a mortgage correctly, you can receive the best interest rate that you qualify for and save money on your mortgage. The key is that you should start working early when you decide that you want to apply for a mortgage. Here are a few ways that you should do when preparing to apply for a mortgage. Compare Mortgage Loans The best way to get the best interest rate is to compare different … [Read more...] about How to Make Preparing to Apply for a Mortgage Go Smoothly