The same as how good habits can help to make you rich, there are countless bad habits that will make you poor much more quickly. Bad habits are never easy to break, but when the damage caused by these common practices is put right before your eyes, you will be motivated to get them out […]
The choice between repaying your debt and saving for retirement is a difficult one. Which choice will give you the maximum benefit? To reconcile this dilemma, consider these simple steps: 1. Examine the debt in depth Pay attention to the interest rates and fees. Do the math to calculate how long it will take to […]
All work and no play will make anyone’s life seem dull. This is why it’s crucial to make annual vacation time a part of your life. Spending an entire year working or in school can take its toll without the opportunity to relax and enjoy what life has to offer. As with everything in life, […]
First time homebuyers are often seen as frivolous or naive and basing their decisions on pure emotion rather than logic and financial calculation. This cliché does not need apply to you. By doing a little research and talking with the pros, you’ll be able to avoid overlooking sneaky expenses before and after your purchase. If […]
In personal finance, every situation is different. While many people perceive fixed rate mortgages as ideal and variable rates as predatory, this is far from the truth. In an economy of falling interest rates, a variable rate is a good thing. If interest rates are set to skyrocket, it could be a disaster. In the […]
Just about everyone in our modern society yearns to be rich, but few become wealthy. With almost everyone striving for it, why is real wealth so difficult to obtain? Are there fundamental differences between the rich and the poor that can account for such widely differing levels of success? Rich people can appear capable of […]
There are just as many ways to save money as there are to spend it. Small changes can be made in your daily activities at home to help save money and reduce your living expenses. Some of the most effective changes that are often overlooked: 1. Reduce, reuse, and recycle Have you ever considered recycling […]
If you struggle to jump out of bed and get to work every day, it might be because you are sorely unfulfilled by your day job. The 9-to-5 drudgery can become tedious, monotonous, and unchallenging. Answering to a clock and a boss every day gets old fast. When you factor in your commute time, along […]
Everyone knows about the tax deduction for mortgage interest paid on your mortgage, but what other tax advantages are there to owning your own home? One challenge of home ownership that is rarely discussed is the tax laws around points on your loan, cost basis, etc. Just a modicum of knowledge can easily clear up […]
When it’s time for a new car, you have the option of purchasing it outright, either with cash or by financing it, or you can strike up a lease agreement with an auto retailer. Leasing provides the short-term benefits of a new car without the downside of the latter years of ownership. This avenue of […]
Financially Fit Formula