What Do You Need to Buy a House?: 5 Key Requirements
5 Primary Financial Requirements for Purchasing a Home Getting a home inspection prior to closing can reveal hidden problems with the home. Owning a home gives you freedom, privacy and tax deductions for your property taxes and mortgage interest. According to Habitat for Humanity, the…
Money Management Challenge: The Risks (& Rewards) of Self-Employment
Self-employment has some real rewards. You get to be your own boss, set your own hours and control your own destiny. However, running your own business also means that you get paid when clients pay you and, frequently, that won’t be on a regular schedule.
Manage Your Finances, Master Your Life: How to Maximize Your Employment Benefits
Your employment benefits can add as much as 30 percent to the value of your salary. And it does add up: consider the value of insurance, retirement plans, other tax-deferred savings plans, employer matches, and other benefits, and you could easily find you have access to many thousands of additional dollars per year. Once you know what you have, it’s just a matter of taking advantage of it.
Budgeting Conundrum: Is It Smarter to Rent or Buy a House?
Budgeting Conundrum: Is It Smarter to Rent or Buy a House? Home ownership is often touted as the American Dream, and there certainly are plenty of benefits to owning your own home. You get a tax write-off for your property taxes and mortgage interest, and…
Adding It All Up: Determining Your Net Worth
Adding It All Up: Determining Your Net Worth Given recent economic history, it’s not surprising that people are paying close attention to their net worth. The dip and rebound in the stock market, the uncertainty over home prices and the gathering financial recovery has many…
Need Money? Personal Finance Tips When Borrowing from a Retirement Account
When you’re in a bind financially, it can be very tempting to turn to your nest egg for a quick cash infusion. After all, you’re just borrowing it and have every intention of paying it back. However, “taking a loan from a 401(k) plan is often a last resort,” according to Anika Hedstrom, MBA and Senior Financial Analyst practicing in Southern Oregon.
What/How to Teach Your Kids About Money Management
What/How to Teach Your Kids About Money Management Money management is a fundamental life skill that is often overlooked in schools and formal education. Typically, children will learn about money management either from their parents or on their own, rather than through any organized curriculum….
Changing Jobs? Finance Tips on What to Do With a 401K Retirement Plan
Congratulations on your new job! Before you are too far gone from your old position, you need to decide what to do with the 401(k) account balance at your old employer. Financial planning business owner Mike Mills warns that your decision could be the difference between losing and gaining large sums of money for your retirement.
Finances 101: Tips on Opening a Savings Account
Finances 101: Tips on Opening a Savings Account Whether you’re opening your first savings account or you’ve had them in the past, knowing what to look for can help you maximize its benefits — and minimize or eliminate the costs. “Keeping separate checking and savings…
Budgeting Tips for Saving Money on Cell Phone Plans
While the cell phone industry will tell you that a typical monthly bill is about $47 as of 2012, many people are paying more than that — and depending on their needs, it may be too much. There are a few actions that you can take to save money on your cell phone plan today. Sometimes to save money in the long run, you have to consider all the angles, such as whether switching carriers is worth the money you’ll spend on a new phone.