I’m pleased to hear you are considering home ownership. Owning your own home is a wonderful blessing, but it can be a heavy burden–a curse even–if you borrow money before you’re ready.
I know you are busy, so if you don’t have time to continue reading now, please just scan my very quick, bulleted summary. It’ll [...]
Many financial advisers emphasize the importance of building a large nest egg. While a large nest egg is a great idea, this strategy can make people focus on the future at the expense of the present.
That’s a trade off we’re not willing to make.
Many people view their retirement balances as the solution to their situation–working [...]
You don’t have to wait until you have a mortgage to start paying it down.
At some point in our lives, most of us lack the motivation to save for the future. Even forward-looking individuals like David sometimes lack the drive to set more aside for the future.
Although this behavior costs us dearly, most of us [...]
Eating out can be dangerous for your waistline—and your bottom line.
Now I don’t dine out much (sorry about the deceptive title), but many people do. Most people also borrow money to buy a house or condo at some point. And most people, unfortunately, are unaware just how much dining out affects the length of their [...]
Notes:
Amortization - Regular payments over a specified period of time to repay a debt like a mortgage. The payments cover both principal and interest. You can request an amortization schedule from your mortgage lender or calculate your own with an online amortization calculator.
The photo in the comic was taken by Marcin Wichary.
This article was featured [...]
Q: With housing prices dropping, we’re hoping to buying our first house. Is now a good time to buy? What do we need to do to avoid the housing crisis?
A: There are two issues here. Is it a good time for anyone to buy a house? And, is it a good time for you to [...]
Would you rent a house if you had to compensate the landlord for any depreciation during your stay? What if there was also a hefty move-in and moving-out fee?
What if the house was situated in a desirable neighborhood, contained the right amenities, and you could swing the monthly payment? Thousands of home buyers unknowingly enter [...]
Many first time home buyers unknowingly commit themselves to excessive interest expenses by starting with their dream house. Starting with your dream house holds a lot of appeal: you get to enjoy the house now rather than later and you save on real estate agent fees on the purchase and sale of your first home. [...]
