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Personal finance ideas and tips to help you save money and grow your wealth.

One Budget-Wrecking Financial Mistake You Must Avoid

If you’re on a mission to control your spending to pay off debt, save up an emergency fund, pay off your mortgage faster, or save for retirement (and all of these are fantastic goals), the one big budget-wrecking mistake you must … Continue reading

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Survey: 40% of Americans Have Less Than $500 in Accessible Savings

According to CBS, 40% of Americans have less than a mere $500 in “readily accessible savings”. Folks, many Americans are living on the financial redline, and when unexpected expenses come up, they end up pulling out the credit card and setting themselves back financially even more. Continue reading

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Average Student Loan Debt for College Graduates Increases to New Record

According to CNBC, student loan debt has once again hit a new record. And, unfortunately, the younger generation – and the housing market – will be feeling the pain for many years to come. I’ve written about this subject on numerous occasions on this blog, so for those who’ve followed for a while, it’s no surprise that I’m not a fan of student loans at all. I think there are plenty of reasons people should think very carefully about loading up with student loans. Continue reading

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The 10 Commandments Every Home Buyer Should Know Before They Start Shopping For a Home

Real estate is a complex business and there are a lot of hangups that can mess up a great deal and/or cost home buyers a lot of money, so it’s important for buyers to go into the process reasonably educated and with their eyes wide open. I also highly recommend that home shoppers get themselves hooked up with a great real estate agent. Not only are the services of a real estate agent free to buyers, but the agents themselves are a tremendous resource for market knowledge and can help guide buyers through the complex purchase process. Continue reading

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Video: Figuring Out Whether it Makes More Sense to Rent or Buy a Home

The following is a great video that shows some of the thought process that might go into deciding whether to remain a renter or take the plunge and buy a home. When watching, don’t get hung up so much on the numbers themselves (the guy who produced the video lives in an area more expensive than most), but focus in on the thought process that the presenter goes through. Granted, home ownership isn’t just about the numbers, but if the numbers are important to you and you’re not sure how to figure out what option makes the most sense from a strictly financial standpoint, this video is a great place to start. Continue reading

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Study Shows How Student Loans Delay Homeownership For Many Young People

If you’ve followed this blog for a while, you’ve probably already figured out that I’m not much of a fan of student loans. Good paying jobs just aren’t as easy to come by for college graduates these days, so student loans can be an enormous financial burden that can hang with a young person for many years after graduation. Continue reading

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Government Docking Social Security Checks For Unpaid Student Loans

For many seniors, carrying student loans into retirement can create an enormous financial burden that can’t be wiped out in bankruptcy. Even worse, Social Security recipients who fall behind on their loan payments may get a very nasty surprise when their next check comes. Continue reading

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Business Insider: One Family’s Journey Out of $26,000 in Debt

Business Insider has a great article about a couple in Virginia who decided to live debt free after reading The Total Money Makeover and going through Ramsey’s Financial Peace University course. Continue reading

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This Week’s Totally Money Blog Carnival: A Roundup of Great Personal Finance Posts From the Blogosphere

So begins the latest Totally Money blog carnival, hosted by yours truly! If you’re not familiar with a blog carnival, it’s basically a round up of some of the most interesting and informative posts in the blogosphere. Continue reading

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10 Simple Tips to Improve Your Credit Scores

Your credit scores are considered predictive of how you pay back borrowed money, so it shouldn’t be a surprise that banks tend to give them a lot of weight. If you have clean credit with good payment histories on all of your accounts, you can expect to get much better financing terms than if you have low credit scores because of late payments, collections, high credit utilization, or a short credit history. Continue reading

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