Although I haven't conducted a scientific study, I suspect that most people of modest means who are successfully managing their money understand the importance of patience in personal finance.
Let's face it: Most debt-free people aren't impulsive ...
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How Much Can I Afford to Borrow for a New Home?
One of the biggest questions for first-time homeowners is this: How much can I afford to borrow? 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 to Pay 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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Personal Finance Bad Habits: The 33 Biggest Ones to Avoid
I'm a total neat freak. Always have been.
Truth be told, the Honeybee is a neat freak too. I think that's a big reason why we get along so well.
Oddly enough, our teenage kids are the exact opposite. They're allergic to neat.
The other day I ...
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How Big Should a Mortgage Down Payment Be?
Although there are exceptions to every rule, mortgage providers generally require homebuyers to contribute a minimum down payment somewhere between 3.5% and 20% of the home's purchase price. So how big should a mortgage down payment be?
Of course, ...
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Personal Finance App Review: You Need a Budget (YNAB)
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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Credit Repair Mistakes: 6 “Smart” Moves You Need to Avoid
Once you realize that you have a credit problem, it's important to fix it as soon as you can. Unfortunately, consumers who make credit repair mistakes are quite common. Without carefully considering your credit repair strategy or even seeking ...
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How to Save for a New Home With Spotty Income
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 paycheck. On the other hand, those who work on commission or depend on tips for ...
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Top Tips for Discussing Finances With Your Significant Other
Did you know that in the US and other Western countries, over 90% of people get married before the age of 50? Regardless of age, marriage often entails merging lives, and with it, merging finances. Despite the commonality of marriage, the intricacies ...
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Behind on Your Bills? Here Is How to Handle It
There's no denying that the coronavirus pandemic had significant effects on the US economy. Understandably, many Americans were forced to make drastic budgetary changes during that time; more than a few found themselves behind on the bills. And now ...
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How to Conduct a Financial Health Check
Many experts suggest that people make a point of conducting a personal financial checkup on an annual basis or after a major life event such as a marriage, divorce, birth, or death. But what does that mean exactly? To make sure you don’t miss ...
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5 Financial Lessons from the Past That Everyone Should Learn
Those who ignore history are doomed to repeat it. There are so many sayings in this vein, but they all revolve around the fact that you must learn from your past errors. So let's look at some key financial lessons from the past we should all bear in ...
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How Eating Donuts Can Help You Stay on Budget
Occasionally, my hubby picks up a donut for a breakfast treat. I usually refrain from this particular indulgence; too fattening, too many calories, etc. Yesterday, since it was such a lean sweet day, I decided to join him for a donut.
I selected a ...
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The Basics of Business Credit: What You Need to Know
Business credit is key to a company's financial health and growth potential. It impacts the ability to secure financing, obtain favorable terms from suppliers, and manage cash flow effectively.
It's essentially a track record that demonstrates a ...
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What Are the Easiest Loans to Get?
In the labyrinth of financial solutions, certain pathways are illuminated more brightly than others, offering a seemingly straightforward route to cash liquidity. These are the financial equivalents of secret passages in ancient pyramids, promising ...
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8 Big Reasons Why You’re Getting an F in Personal Finance 101
I remember the time when I saw my son's mid-term progress report and noticed that he was getting an 'F' in one of his classes -- Physical Education, to be exact.
"How in the world does anybody fail phys ed?" I asked the Honeybee, shaking Matthew's ...
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Teaching Kids Money Management Skills
Before my kids, Matthew and Nina, became teenagers I conducted a little experiment in order to ascertain their sophistication level regarding money by conducting a loan interview with the Bank of Dad. Not surprisingly, I learned that my kids were ...
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10 Tips for Making Your First Budget
Landing your first real job and bringing in a steady paycheck each month is an exciting time. However, if you're like most people, that's shortly followed by a myriad of expenses. It's difficult to keep track of all your bills and expenses -- and if ...
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How to Eliminate Student Loan Debt BEFORE Starting College
The national student debt load continues to sit at a crisis point - so it's not surprising that there is a big push to eliminate student loan debt. For this year's graduating class, more than 70% of graduates borrowed money to finance their tuition, ...
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Why You Should Never Cosign A Loan for Anyone
Cosigning for a loan is one of the dumbest financial moves you could ever make. By cosigning, you not only assume liability for the borrowed money, but you also make it tougher on yourself to qualify for large loans -- regardless of your payment ...
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