Now that we are in April, it is time to look back and review your first quarter of the year. Just like corporations are reporting how they did in the first quarter, you should do the same for your household finances. Use this process as an opportunity to see where you have done well and…
Saving wisely is an important component of your financial stewardship. Last week, I wrote several posts about saving because it was America Saves Week: Along with all the great advice in those articles, it is important not to get so caught up with your saving approaches that you forget to balance it with investing. In…
Getting out of debt is the #3 goal Savers select when they pledge to save. That does not come as a surprise since a 2012 survey showed that 45% of families with annual incomes under $50,000 rely on credit cards to pay for basic needs such as rent, utilities, insurance and food. Large consumer debts…
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…
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…