How many of us know exactly how much money we need each month to get by? As a member of a family who has gone through a successful personal finance renaissance I can tell you that figuring this number is a notable achievement. And there are a few reasons for this: Allows You To Create [...]
We’ll be celebrating our third anniversary in our house this June. We financed our home with a traditional 30 year mortgage at 6% and then refinanced within a year to obtain 5% rate on an FHA loan. So we have a little over 28 years left if we continue to repay as scheduled. Meanwhile, after refining and scrutinizing our budget, [...]
On one hand, we are in debt. We have outstanding balances on a mortgage, student loans, and a few low-interest credit cards. Overall, the weighted average of all interest is 5.25%. But we are totally comfortable with this debt, and we are not presently accumulating more debt. On the other hand, we have opportunity to [...]
I just received my copy of the 2010 Consumer Action Handbook. There is a supplemental booklet in the packet titled Saving and Investing. Within the booklet is a section titled Pay Off Credit Card or Other High Interest Debt: If you’ve got unpaid balances on several credit cards, you should first pay down the card [...]