Creating a monthly budget can be intimidating the very first time, “What do I include in my Monthly Budget?” Every little purchase starts to add up so it’s important to not overlook even the small insignificant seeming stuff. Setting up your budget for the first time may not be what you call fun, but it […]
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Definition of Zero-Based Budgeting Zero-based budgeting is the process of creating a financial game plan that assigns a purpose to every dollar you make. The purpose or expenses then get subtracted from your monthly income. The desired result is a perfectly balanced budget with zero dollars left over. Hence, zero-based budgeting! Advantages of Zero-based Budgeting
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We had talked about kids before marriage, agreeing it was in our future, but never set a concrete date to start trying. To be honest I was enjoying life. We were happy, traveled spontaneously, drank a little more than we should have at times, and hell, I loved sleeping in on the weekends. It was
Will having kids ruin the life I know and love? Read More »
Discount Points When comparing mortgage rates you may notice that lenders offer different interest rates based on “points.” So how do mortgage points work? Mortgage discount points are a percentage-based fee you pay at the mortgage closing date in return for lowering the interest rate. In the lending world, you may hear discount points also
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Shopping for a mortgage? What is the difference between a mortgage interest rate vs APR? A simple understanding can save you a ton of money on your loan. Interest Rate: Mortgage interest rates are a percentage-based number that will be paid on the principal loan amount throughout its 15 or 30-year life. This is normally
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Most Americans live with growth-crushing credit card debt and it makes me sick. Unfortunately, only a solid debt payoff plan is going to efficiently get you to your goal of debt-free living! Reasons Americans are getting into credit card trouble are endless, but some include: Our youth is financially uneducated and not prepared for real-world
401k and 403b Before-Tax Limits The IRS has set limits on how much an individual can contribute each calendar year to their employer-sponsored retirement plans. For 2023, the max contribution to a 401k is $22,500 up from $20,500 in 2022. There is an additional “catch-up” contribution of $7,500 for those over 50 years old. These
Max Contribution to 401k (2023 Limits vs. 2022) Read More »
If 2020 hasn’t convinced most people how important an emergency fund is, then there might not be anything that will! But how much for an emergency fund should you plan on saving for? Let’s find out! What is an emergency fund? An emergency fund is a readily available amount of money to pay for life’s
How much Emergency Fund? Read More »
Not using the countless money-tracking apps available to you in this tech age may be putting you at a severe disadvantage, but fear not! This guide of the best budgeting apps will give you the know-how to choose which one will benefit you most. With so many top budgeting apps out there, it can be
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Been reading much about personal finance lately? Well, there’s an extremely divisive argument being made about your coffee habits and retirement. It’s known as the “latte factor”. The “latte factor” states,”Cutting out your daily coffee will give you enough money to retire with!” Some people swear by it, others think it’s the most preposterous retirement
What is the latte factor? Read More »