Tag Archives: Money Monday

Money Monday: Financing first for most home buyers

The smoother home-buying experience means getting financing figured out first.

This infographic is from CAR.org.

Money Monday: Tips to avoid college debt

“What steps can parents take to help themselves and their children avoid getting caught in the college debt trap?

  1. Create a budget to track all money coming in and going out of your household. Make savings a prominent and permanent part of it.
  2. Begin saving for college costs as early as possible through tax-advantaged savings vehicles such as 529 and Coverdell education savings plans.
  3. Apply for scholarships and grants.
  4. Consider work-study programs to help offset tuition costs…”

More tips on Forbes’ article: “6 Ways to Save Your Kids From the Rising Cost of Education and Prevent the College Debt Trap.”

Money Monday: How do you know you’re really ready to retire early?

It’s tempting to set a figure for retirement in your head, and then retire once you’ve reached that monetary goal.

Retire by Nick Youngson CC BY-SA 3.0 Alpha Stock Images

Retire by Nick Youngson CC BY-SA 3.0 Alpha Stock Images

“Some people go to great lengths to set up their spending, saving and investment goals so they can retire early.”

“While the main goal is figuring how much you’ll need and reaching that magic number, there are other considerations, too.”

Find out what else you should consider on CNN’s article: “How do you know you’re really ready to retire early?”

Money Monday: Federal law now allows you to freeze your credit

Consumers can now freeze their credit for free under a new federal law.

“A credit freeze restricts access to your credit file, essentially halting anyone from opening any new credit in your name. The rules used to vary by state, but previously it could cost up to $10 to put a freeze in place. That fee often had to be paid again when someone wanted to unfreeze it for any legitimate uses.

“But under a new law that takes effect Friday, consumers anywhere in the U.S. can do so quickly and for free.

“Congress passed the law in response to last year’s massive Equifax hack, which exposed the private information of more than 145 million Americans.”

Read more on this over at Yahoo Finance: “Credit freeze free nationwide as of Friday.”

Money Monday: Saving for retirement

“Far too many people make bad choices when it comes to retirement. It’s the equivalent of choosing candy bars over the solid meal…

retirement

“How can we make better decisions for retirement planning? One principle is the knowledge that increasing saving over time will build a bigger nest egg. Here are three key moves that can lead to a better outcome”:

Read Forbes’ article here: www.forbes.com/sites/johnwasik/2018/09/10/how-much-do-you-need-to-retire-3-ways-to-get-it-right/#777f994743d4

Money Monday: Preparing for a recession

4 things you can do to be recession-ready

real estate market and recession

Thankfully, there are things that all of us can do to prepare for our country’s next recession, regardless of when it hits. Here are a few moves that’ll help you get ready.

1. Build an emergency fund

2. Diversify your investments

3. Get a side job

4. Lower your fixed living costs

And for more details, read Money CNN’s article on the topic: “4 things you can do to be recession-ready.”

Money Monday: Rejected home purchase offers

If you’ve been rejected after making a purchase offer on a home, you may have made the wrong financial offer.

There’s a few common reasons why a seller could have rejected your offer; here’s some monetary reasons:

  1. You offered too much. 
  2. You requested too much additional money toward closing. 
  3. Your financial picture raises questions. 

Rejected purchase offers in real estate

This infographic is from CAR.org.

Money Monday: Make sure you’re ready to retire

Ready to retire? Make sure with these guidelines from CNN:

retirement“Retirement can be wonderful — if you’re prepared for it. So before you put an end to your career, it’s essential to make sure you’re 100% ready.

“Not sure how to do that? Taking these five steps can put you on the path to a happy and secure retirement.

  1. Plan with your spouse
  2. Where will future finances come from?
  3. Test with a retirement budget
  4. Plan your healthcare
  5. What will you do during retirement?

Read the entire article from CNN: “5 steps to making sure you’re ready to retire”.