No matter how thrifty you think you are, the truth is, most people are constantly spending money; it's just part of being an adult. And if you have any level of property or responsibility at all, you have operating costs and overhead, just like a ...
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A Primer on Bankruptcy Options and Potential Tax Liabilities
So, you are struggling financially and are curious about the bankruptcy option. You have heard the rumors about those who have filed and prospered; you've heard the tales about those who have filed and failed. Whatever the case may be, you want to ...
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3 Financial Building Blocks That All Parents Should Teach Their Kids
No one is born knowing about money, and some people don't figure it out at any point during adulthood. Readers of Len's blog have taken it upon themselves to do that learning, and have likely reached a strong level of financial knowledge and skill. ...
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A Brief Tutorial on How Lawsuit Loans Work
Lawsuits are costly procedures, to say the least. You have the responsibility to pay the legal fees of your lawyer while the case is being fought in court, and some lawsuits take months, even years to reach a verdict. To make things worse, if you are ...
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8 Payday Loan Alternatives That Loan Sharks Don’t Want You to Know
When you examine the numbers, it's difficult to deny that payday loans are detrimental to your finances. Payday loans affect real people with real families who are unable to make ends meet. So, out of desperation, they often turn to what is probably ...
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Dora the Explorer’s Five Easy Steps to Financial Health
When I was little, I loved to watch cartoons. You know, the big ones: Quick Draw McGraw, Ruff & Reddy, Mighty Mouse. OK, so I'm an old guy.
Anyway, in my youth, I did not have any interest in finance, personal or otherwise. That changed in my ...
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5 Reasons Why Refinancing a Mortgage Makes Sense (and 3 That Don’t)
Readers: This is article 15 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
There are several good reasons for homebuyers to consider refinancing. Here are a few of the most common ones:
Home equity access. Homeowners who ...
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What Is Mortgage Refinancing and Why Should I Consider It?
Readers: This is article 14 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
When you refinance your mortgage, you typically pay off the existing loan and create a new one. However, if you have a primary and secondary mortgage, ...
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Is It Better to Buy, Lease or Hire-Purchase a New Car?
Buying a brand new car is one of the bigger purchases we make -- not quite as big as buying a house, but significant none the less.
For many of us, money is always an issue and we can't afford to spend a great deal of it unwisely. As such, when ...
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What’s the Lowest Mortgage Down Payment I Can Get Away With?
Readers: This is article 13 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
Many people mistakenly believe a 20% down payment is required for conventional home loans, but the reality is that's only true for homebuyers who want ...
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How Do I Determine the Biggest Monthly Payment That I Can Afford?
Readers: This is article 12 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
There are two basic methods for determining how much house you can reasonably afford:
Calculate Your Budget Using a Debt-to-Loan Ratio
Mortgage ...
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What Is the Best Way to Find My Credit Score?
Readers: This is article 11 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
Your credit score is a financial report card that tells lenders how risky it is to do business with you. Credit scores are especially important for ...
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4 Simple Tricks That Can Help Lower Your Credit Card Interest Rate
Over half of American households carry credit card debt from month to month. That means they're making interest payments that reduce the amount of money they have.
The higher your interest rate is, the more money you lose every month. The good ...
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The Ultimate Guide to Paying Off Your Student Loan Faster
One of the biggest obstacles that prevent many graduates from investing either independently or through an adviser is the student loan. Student loans can weigh down individuals from seizing rewarding financial opportunities until they're cleared of ...
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How Much Can I Afford to Borrow for a New Home?
Readers: This is article 9 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
Although there are exceptions to every rule, mortgage providers generally require your total debt to be no more than 36% of your pre-tax income. Your ...
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How Big Should My Mortgage Down Payment Be?
Readers: This is article 10 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
Although there are exceptions to every rule, mortgage providers generally require homebuyers to contribute a minimum down payment somewhere between ...
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How to Manage Bills and Save for a New Home When Your Income Is Spotty
Some of the most important things in life are always taken for granted. After all, most of us drawing a steady salary never consider how fortunate we are to get a regular monthly or semi-monthly paycheck. On the other hand, those who work on ...
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Personal Finance App Review: You Need a Budget
In life, some people prefer chocolate while others like vanilla. And when it comes to personal finance, there will always be people who are comfortable managing their money using an Excel spreadsheet, while others prefer something a bit more ...
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A Quick Look at the Hidden Costs of a College Education
Let's face it, folks: for most people, college is a really bad investment. That's why I'm constantly harping on the high cost of college and the importance of ensuring -- before you commit to higher education -- that the degree you're chasing will ...
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6 Dumb Mistakes People Make When Trying to Repair Their Credit
Once you realize that you have a credit problem, it's important to fix it as soon as you can. Without carefully considering your credit repair strategy or even seeking professional help, you're likely to make some common mistakes. Trying to repair ...
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