Month

October 2016

4 Major Costs That 1st Time Home Buyers Underestimate

Considering buying a new home? You are in luck. I bought my first home in April of this year. I would ask my friends, family, co-workers, and others about the home buying process. A lot of the answers that I was looking for – especially regarding the cost of home ownership were nowhere to be found.

In order to help you through your journey to homeownership, I decided to discuss the things you need to know if you are considering buying your first home in the next 3 years. To get started, check out these posts:

As you probably know, homeownership isn’t cheap.  Even if you have already taken the 5 steps I mentioned previously to prepare for your 1st home purchase and considered all the 10 costs homeownership, there is a good chance you are underestimating some of the costs.

Check out these 5 major costs that 1st time home buyers underestimate:

4 major costs that 1st time home buyers underestimate

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8 Strategies to Pay Off Debt Fast

After featuring my friend MJs debt payoff story, a lot of other people have made declarations of becoming debt free.  His story was motivating and inspiring.  If you haven’t read the post yet, as a teacher he paid off over $39,000 of consumer debt in less than in 21 months.

According to an article by Nerd Wallet, the average U.S. household with debt carries $15,675 in credit card debt.  In fact, credit card debt costs consumers an average of $2,630 in interest per year, assuming an average APR of 18%.

Paying off a large amount of debt can seem overwhelming but it doesn’t have to be.

The thing is anyone can become debt free.  It takes dedication and will power but you can do it too. In order to help others on the path to becoming debt free, check out these 8 strategies to pay off debt fast.

8 strategies to pay off debt fast

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The Ultimate Guide to Traditional and Roth IRAs for Millennials

According to a recent study by USA Today, millennials will need between 1.8 million to 2.5 million for retirement.  That is a lot of money!  Of course, that is taking into account inflation by the time we get ready to retire and the fact that social security may be unavailable.  Nevertheless, it is still a lot of money!  In order to get there, millennials will have to do more than just save in their 401k – or company-sponsored retirement plan.  That is why every millennial needs a Traditional and/or Roth IRA.

Today, we will break down what an IRA is, the similarities and difference between Traditional and Roth IRAs, and which saving vehicle is best for you.

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How to Enjoy Christmas without Going Broke

Can you believe that is already October? That means we have less than 3 months until Christmas. Believe it or not, it is time to start preparing financially for Christmas already!

According to a Gallup survey, in 2015 the average shopper spent $830 on Christmas presents!  Unless you have been preparing for some time, that is a big financial hit to take at once.

Check out these awesome tips on how to enjoy Christmas without going broke:

 

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5 Money Management Misconceptions about Women in Society

Today we have a guest post by Tina Roth regarding money misconceptions about women in society.  Check out her bio at the end of the post.

Women have always been discriminated against. Women have been denied several rights – the right to vote, the right to work outside the home, and more. Time has changed now, we live in a gender neutral society where men and women are considered equal.

But distasteful stereotypes about women still exist. Women lack driving skills, women are bad at STEM – these are all stereotypes. It’s time we debunk them – once and for all.

But before debunking them, let’s have a look at them. Here are the 5 money misconceptions about women.

5 Money Management Misconceptions about Women: Exposed!

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9 Simple Ways to Save Money While Eating Out

Eating out is literally my kryptonite and the hardest habit to kick.  I just love the convenience of eating out but it can really add up.  Think about it: if you go out to lunch every day for a week at a conservative $7 a meal, you will be spending $35 a week and $140 per month!  Let’s be realistic, though, what restaurant can you go to for $7 a meal?  Typically it is more like $8-10 or more if you order a drink and/or dessert.  Therefore, at $10 per meal, you end up spending $50 per work week and $200 just on work days!  It adds up quickly!

That isn’t even including weekends.

Even though, eating out is my guilty pleasure, it doesn’t help my wallet (or my waistline).  Slashing eating out from your budget is one of the easiest ways to save money.  However, it doesn’t hurt to treat yourself every once in a while.

That is why I try to find simple ways to save money while eating out.  Check out these 9 simple ways to save money while eating out.

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3 Things to do Prior to Investing

I love that so many people are curious about investing.   The world of investing can be overwhelming for beginners – stocks, bonds, mutual funds, ETFs, annuities and the list goes on.  Investing is the key to truly building wealth.  I want you to get started as soon as possible.

A statement that I get often is “how do I invest in stocks.”  Before I answer that question, I always like to cover the basics which we’ll go over in this post.

 

3 Steps to take prior to investing (and how to get started)!

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3 Reasons to Share your Money Goals with your Squad

Luxury Cars.  Mansions.  Extravagant Trips.  These images are plastered all over social media with the hashtag #squadgoals, but what does that even mean?

According to Urban Dictionary, #squadgoals are defined as “an inspirational term for what you’d like your group of friends to be or accomplish.”

Based on many of the pictures labeled #squadgoals on social media, should the goal of your squad be to achieve wealth?  If so, how are you getting there?  Even better yet, how are you getting there together?

Check out these 3 reasons to share your money goals with your squad:

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