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
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?
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
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
A lot of people hate the B word. I have to admit it myself that I do not enjoy budgeting. But, budgeting is a great way to make sure that you have enough money to pay the bills each month. It is also a way for you to save for different financial goals you may have in life like retiring early, finishing your bucket list, or sending your children to college. The hardest part of budgeting may be simply starting. So many people do not know where to start or how to get going. Starting a budget that makes sense can take a little bit of time at … [Read more...] about How To Get Started With Your First Budget
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
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
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
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
Many individuals who are saving for the future prefer to do so in an individual retirement account (IRA) because of the tax savings involved. And now, Betterment is offering its customers to do the same thing and allowing them to invest in IRAs. Betterment offers IRA to its customers now. If you haven’t heard of Betterment or of a Betterment IRA, it is an online brokerage that is trying to simplify the way investing is done by automating the process and making it easy to invest in a diversified portfolio. Recently, Betterment … [Read more...] about Betterment Now Offers IRA Accounts To Customers