Does home ownership increase homeowner wealth? It absolutely does. First, simply by paying off a home loan, builds wealth. And, you are doing this each month in a regular and disciplined way. Second, it is likely though not certain, that the market value of your house will increase over time. Nationally for several decades, housing…
Basic skills and attitudes form early and lay the foundation for later financial well-being. When children are ages 3 to 5, help them learn to stay focused, make plans, follow directions, complete tasks, and solve problems. Help your child build key skills with: Building money habits and values Kids in middle childhood begin to absorb…
The easiest and most effective way to save is automatically. This is how millions of employees save through 401(k) and other retirement programs at work. It is also how millions of Americans save at their bank or credit union. How to Save Automatically The best automatic saving is when you make a decision to do…
A financially successful marriage does not happen by default. Managing your finances well as an individual is already a challenging task for most people, so when you add the emotions, habits, wants, wishes and desires of another person into the mix, the complexity increases exponentially. Money can be the source of great tension in an…
Debt is slavery. I know that is a controversial thing to say, but consider one of the definitions in the Webster Dictionary for ‘slave’, and you will understand what I mean: One who is completely subservient to a dominating influence Debt is a dominating influence in your life because it significantly limits the choices you…
Last week, I introduced you to a fictitious couple called John and Jane Mills. On the surface, this young couple looks like they are living an idyllic middle-class life. But under the surface, they are Struggling in their financial growth. With a combination of cash flow and debt issues, their financial lives are a source…