For most people the cost of managing how they live their life is more important than managing their investments. The fact is, without any type of savings the returns that you’re going to get aren’t likely to be anywhere near sufficient or close to your goals. The solution: Creating a budget and using it. Frankly, it’s one that most people dread hearing about but if the surest way to control spending, set realistic goals and secure your financial future. Figuring out your average household expenses and thus your average family budget is critical.… Read the rest
Welcome back for Part 2 of our 2 Part series on how your Money Habits can be affected by your Upbringing. In Part 1 we talked about how the fact that your parents spoiled you rotten (or never spoiled you at all) could affect the decisions you’re making now when it comes to money and your finances. Today were going to be doing and talking about more of the same so, if you’re ready for little financial therapy, let’s get started. Enjoy.
- Mom and dad never gave you any Lessons about Money. This is probably the most common problem and usually it’s due to the simple perpetuation of your parent’s own lack of a financial education.
Something that most people don’t realize is that how they were raised as children can actually have a big impact on how they make decisions as adults, especially with money. Sometimes the decisions, due to the way mom and dad taught us, are excellent and, sometimes, they are not. That’s not to say that a person can just blame their parents for their problems and their mismanagement of money but, at the root of most adult financial problems, are the lessons that they learned as children from their mother and father.
With that in mind we put together a list of relatively common parenting behaviors that, in most cases, can have a negative influence and how a person handles money and their finances as adults.… Read the rest
It’s been calculated that the aggregate expense to all households in the United States for accessing and using their Cash is $31 billion a year. This astounding number includes the 5.6 hours each year, on average, that people waste simply driving to the location where they get their cash and also $6 billion in foreign ATM fees. Throw in another $5 billion in period account fees and don’t forget the 500 million that’s stolen every year either and you can see that using cash is actually rather expensive.
The old saying “Cash is King” might still hold but, for what most people are paying just to use it, it might be time to change it.… Read the rest
While hiring a mortgage broker is more advantageous for most new homebuyers than working directly with lenders, it still pays to screen them for professionalism. Taking a few minutes of your time to ask your broker some serious questions can you save you from experiencing problems when you are ready to buy your dream home. Following are 10 questions that you should ask your mortgage broker before committing to any terms.
1. Are you affiliated with any lenders?
Some mortgage brokers work with only a limited number of brokers, which places a limit on your available options and prices.
2. Are you licensed or certified by the state?… Read the rest