When I was growing up, my parents used an UTMA account to save money for my college expenses. Back then, it was really the only way to save for a child’s education. Nowadays, the 529 is a popular option. You may have heard about both types of accounts, but don’t know what the differences are […]
We all want to become overnight millionaires. There are get rich quick infomercials on just about every late night television channel. Some people turn to the stock market in hopes of picking the next Apple or Google, but many times, this effort fails miserably. Yet, the allure of a penny stock still draws in many […]
It’s no secret that incomes have not been rising the past few years. While the prices of the goods we buy continue to rise, our paychecks stay the same, resulting in our monthly budget getting tighter and tighter each year. How do you overcome this? You need to earn more money. One way to do […]
Once the kids are grown up and move out, many parents look to downsize their homes. This makes sense of course on the surface. With fewer people in the house, there is less of a need for all of the extra space. Plus, a smaller house could mean a smaller mortgage or even no mortgage […]
We’ve all made our fair share of financial mistakes over the years. The key is to understand what went wrong and to take action to fix the mistakes as best we can. Sometimes we can do this with little effort, while other times it will take time to repair the financial mistakes we’ve made, big […]
Is it me or is the cost of groceries only going up? It seems every time I visit the store, the things I buy are more and more expensive. I know the stores know it too because they highlight various products that have had their price frozen. This lets you know you are still paying […]
Your precious little one who recently graduated may have moved back home “temporarily†until they find a decent job or maybe they did so just to save money so they could pay down their student loan debt faster. Whatever the case may be, you now have an adult child living at home. If you haven’t […]
After I wrote how to calculate your net worth, I was out with a friend and we were talking about growing our wealth. Throughout the conversation, he continued to focus on growing his income. I had to explain to him that his approach to growing his wealth was flawed. Why was his approach flawed? Why […]
A popular way to borrow money recently has been to take a loan from your 401k plan. The thought is this type of loan is OK since you are both the borrower and lender and therefore, you reap the rewards of the interest. While technically this is true, there are some pitfalls to avoid when […]
When it comes to saving money, we are always looking for deals. We use websites to find the lowest price for items and then buy them thinking we are getting a great deal. Should You Spend More Money Now to Save More Later? When you find the lowest price are you really getting a good […]
