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Pay off debt or invest: Which is smarter?

January 30, 2023 by Brett Tams

Big payments on credit card debts, student loans and mortgages eat away at how much you can save or invest. A sense of obligation or even guilt can dissuade people from opening an investment account and funding their retirement portfolios before these debts are paid off. That could be a costly mistake.Lots of people make a mistake when they pay off debt before investing. Here’s when to tackle your debt first, and when to invest before digging out of debt.

The post Pay off debt or invest: Which is smarter? appeared first on Money Under 30.

Posted in: Debt, Investing, Money Basics Tagged: apr, balance, balance transfer, before, Benefits, big, build, Buying, Buying a house, Capital Gains, capital gains taxes, car, car loan, company, Compensation, Compound, Compound Interest, cost, Credit, credit card, Credit Card Debt, credit cards, credit score, credit scores, credit utilization, creditors, Debt, debt consolidation, debt vs. investing, Debts, decision, dividend, Emergency, Emergency Fund, employer, employer match, equity, estate, expense, expenses, expensive, Finance, Financial Decision Making, financial well-being, Financial Wize, FinancialWize, financing, fomo, front, fund, funds, Get Out of Debt, gift, good, Grow, growth, home, homeowners, house, impact, Income, income level, interest, interest rate, Invest, Investing, investment, investment portfolio, investment property, investments, investors, job, lenders, leverage, Life, living expenses, loan, Loans, low, LOWER, Make, making, market, mistake, money, More, more money, Mortgage, mortgage interest, Mortgage Rates, Mortgages, Move, passive, passive income, Pay Off Debt, pay off debt or invest, Paying Down Debt, Paying Off Debt, payments, plan, poor, portfolio, principal, property, Purchase, quality, Raise, rate, Rates, Real Estate, renovations, rental, rental property, retirement, retirement accounts, retirement fund, return, return on investment, risk, ROI, Salary, save, Saving, Sell, selling, sleep, stock, stock market, stocks, Strategies, student, Student Loans, tax, tax-advantaged, taxable income, taxes, The Stock Market, time, title, under, value, Vanguard, vanguard funds, wealth, will, work

Pay off debt or invest: Which is smarter?

January 30, 2023 by Brett Tams

Big payments on credit card debts, student loans and mortgages eat away at how much you can save or invest. A sense of obligation or even guilt can dissuade people from opening an investment account and funding their retirement portfolios before these debts are paid off. That could be a costly mistake.Lots of people make a mistake when they pay off debt before investing. Here’s when to tackle your debt first, and when to invest before digging out of debt.

The post Pay off debt or invest: Which is smarter? appeared first on Money Under 30.

Posted in: Debt, Investing, Money Basics Tagged: apr, balance, balance transfer, before, Benefits, big, build, Buying, Buying a house, Capital Gains, capital gains taxes, car, car loan, company, Compensation, Compound, Compound Interest, cost, Credit, credit card, Credit Card Debt, credit cards, credit score, credit scores, credit utilization, creditors, Debt, debt consolidation, debt vs. investing, Debts, decision, dividend, Emergency, Emergency Fund, employer, employer match, equity, estate, expense, expenses, expensive, Finance, Financial Decision Making, financial well-being, Financial Wize, FinancialWize, financing, fomo, front, fund, funds, Get Out of Debt, gift, good, Grow, growth, home, homeowners, house, impact, Income, income level, interest, interest rate, Invest, Investing, investment, investment portfolio, investment property, investments, investors, job, lenders, leverage, Life, living expenses, loan, Loans, low, LOWER, Make, making, market, mistake, money, More, more money, Mortgage, mortgage interest, Mortgage Rates, Mortgages, Move, passive, passive income, Pay Off Debt, pay off debt or invest, Paying Down Debt, Paying Off Debt, payments, plan, poor, portfolio, principal, property, Purchase, quality, Raise, rate, Rates, Real Estate, renovations, rental, rental property, retirement, retirement accounts, retirement fund, return, return on investment, risk, ROI, Salary, save, Saving, Sell, selling, sleep, stock, stock market, stocks, Strategies, student, Student Loans, tax, tax-advantaged, taxable income, taxes, The Stock Market, time, title, under, value, Vanguard, vanguard funds, wealth, will, work

Wait, Home Buying Is the Cheapest It’s Been in 20 Years?

January 30, 2023 by Brett Tams

If you happen to be in the market to buy a home, you’re probably not giddy with delight over today’s sky-high listing prices. After all, home prices continue to inch higher and higher from their near-term lows seen about a decade ago after surging for years. Knowing the home seller purchased the property for 50%… Read More »Wait, Home Buying Is the Cheapest It’s Been in 20 Years?

The post Wait, Home Buying Is the Cheapest It’s Been in 20 Years? appeared first on The Truth About Mortgage.

Posted in: Mortgage News, Renting Tagged: 2, 30-year, affordability, All, at home, Bank, Borrow, Buy, buy a home, buyer, buyers, Buying, company, Consumers, cost, down payment, DTI, expensive, Fall, FHA, Financial Wize, FinancialWize, First American, good, growth, history, home, home buyer, home buyers, home buying, Home Price, home prices, home seller, house, household, household income, Housing, Housing market, improvements, Income, index, Inflation, Insurance, interest, interest rate, interest rates, Las Vegas, loan, loan programs, low, LOWER, Make, making, market, More, Mortgage, mortgage interest, Mortgage Interest Rates, Mortgage News, mortgage pre-approval, MORTGAGE RATE, Mortgage Rates, pre-approval, programs, property, Purchase, rate, Rates, Salary, san francisco, San Jose, seller, story, time, title, Title Insurance, value, wages

Which Mortgage Should I Pay Off First?

January 30, 2023 by Brett Tams

Mortgage Q&A : “Which mortgage should I pay off first?” Today we’re going to talk about strategy if you hold multiple mortgages and want to reduce your total interest expense. It’s not uncommon to have multiple mortgages, such as a first and second mortgage tied to the same property. Or perhaps a couple mortgages on… Read More »Which Mortgage Should I Pay Off First?

The post Which Mortgage Should I Pay Off First? appeared first on The Truth About Mortgage.

Posted in: Mortgage Rates, Mortgage Tips, Refinance, Renting Tagged: 30-year, All, apr, ARM, ARMs, balance, before, calculator, couple, Credit, credit card, Credit Card Debt, credit cards, Debt, decision, Deductible, expense, Finance, Financial Wize, FinancialWize, hold, home, home loan, homeowners, How To, interest, interest rate, interest rates, Invest, investment, investment property, Life, loan, Loans, low, low rates, LOWER, Make, making, math, money, More, Mortgage, mortgage interest, mortgage payments, Mortgage Rates, Mortgage Tips, Mortgages, Move, Other, payments, Personal, personal loan, property, rate, Rates, record low rates, risk, save, Save Money, savings, second, second home, second mortgages, simple, student, student loan, tax, tax deductible, time, title, Which Mortgage

Mortgage rates top 7% for the first time since 2002, chilling L.A. housing market

January 29, 2023 by Brett Tams

The average rate on a 30-year fixed-rate mortgage rose above 7% for the first time since 2002, according to a widely watched survey from Freddie Mac.

Posted in: Spending Money Wisely Tagged: 2022, 2023, 30-year, ad, balance, Bank, beach, before, big, borrowing, Broker, business, Buy, buyers, Buying, Buying a Home, california, chance, Cities, closing, closing costs, commute, condo, cost, country, covid, COVID-19, COVID-19 pandemic, crash, Credit, data, decision, Digit, drives, driving, Economy, equity, experience, experts, Federal Reserve, Financial Wize, FinancialWize, Forecast, Freddie Mac, freedom, Google, great, historical, hold, home, home buying, home loan, home prices, Home Sales, home value, homeowners, homes, house, Housing, housing crash, Housing market, idaho, Inflation, interest, interest rate, interest rates, jump, LA, lending, loan, LOWER, Make, making, market, markets, miles, money, More, Mortgage, mortgage interest, Mortgage Interest Rates, mortgage lending, mortgage payment, MORTGAGE RATE, Mortgage Rates, Move, new, offers, Original, Other, pandemic, payments, Phoenix, photos, plan, policies, poor, Popular, principal, Purchase, quality, rate, Rates, Recession, roommate, sales, second, seller, sellers, southern california, story, survey, time, Travel, value, weddings, will, work, working, Zillow, zillow analysis

How long should you keep your tax returns?

January 28, 2023 by Brett Tams

Three years is the rule of thumb, but some will be relevant for longer, and a few can be discarded earlier.Three years is the rule of thumb, but some will be relevant for longer, and a few can be discarded earlier.

The post How long should you keep your tax returns? appeared first on Money Under 30.

Posted in: Personal Finance, Saving And Spending, Taxes Tagged: 1099, 2, 2021, aid, All, app, Applications, ask, assets, bad debt, Bank, before, big, Big Picture, brokerage, business, Business Income, Buying, buying and selling, charitable donations, clear, closing, cost, Credit, credit union, creditors, credits, data, Debt, Deductible, deductions, deposit, desk, drives, earnings, Employment, estate, expenses, financial aid, Financial Wize, FinancialWize, freelance, fund, funds, goal, good, health, Health Insurance, health plan, healthcare, helpful, hold, home, Home Improvements, Homeowner, house, How To, identity theft, improvements, Income, Insurance, interest, investment, investments, IRA, IRAs, irs, job, Life, list, loan, Loans, Make, making, market, mistake, mobile, money, More, Mortgage, mortgage interest, Mortgages, new, offer, office, organize, Other, password, personal finance, plan, programs, proof, proof of income, property, protect, protection, Purchase, questions, Real Estate, renovations, rental, rental properties, retirement, retirement account, retirement fund, retirement funds, retirement plan, returns, risk, roth, Roth IRAs, safe, safety, save, Saving, securities, security, self-employed, Sell, selling, Selling a Home, smart, snail mail, Software, states, statute of limitations, stock, stock market, storage, student, tax, tax credits, tax filing, tax returns, tax season, Tax Tips, taxable income, taxes, The Stock Market, theft, time, tips, title, tools, Transaction, under, value, W-2, wants, will, work, workers

Still time to save: Today’s mortgage rates hold steady | Jan. 26, 2023 – Fox Business

January 28, 2023 by Brett Tams

Still time to save: Today’s mortgage rates hold steady | Jan. 26, 2023  Fox Business

Posted in: Renting Tagged: 15-year, 2, 2021, 2023, 30-year, All, ask, Bank, before, Benefits, borrowing, build, business, Buy, buy a house, buyers, Buying, Buying a Home, calculator, closing, closing costs, color, Compensation, conventional loan, cost, covid, COVID-19, COVID-19 pandemic, Credit, credit score, Current Mortgage Rates, data, Deductible, disclosure, down payment, equity, Family, Featured, Fees, Finance, finances, Financial Wize, FinancialWize, Freddie Mac, getting a mortgage, goal, goals, Google, great, hold, home, home equity, home purchases, homeowners, house, improve your finances, interest, interest rate, interest rates, lenders, Lifestyle, loan, low, LOWER, market, money, More, Mortgage, mortgage calculator, mortgage interest, Mortgage Interest Rates, mortgage payment, mortgage payments, MORTGAGE RATE, Mortgage Rates, mortgage refinance, Mortgages, new, News, NMLS, Operations, Origination, Other, ownership, pandemic, payments, Personal, personal finance, points, products, Purchase, rate, Rates, Refinance, refinancing, rental, renting, Reviews, right, save, savings, single, single-family, space, tax, tax deductible, time, tools, wealth, will

Year-end tax planning – 2015 checklist

January 28, 2023 by Brett Tams

Know your taxes! I am a big fan of the philosophy: No one cares more about your money than you do. Even if a professional prepares your taxes every year, learn to do it yourself. Aside from what you’ll save in fees, here are two benefits of learning to prepare your taxes yourself:

  1. By doing your taxes on your own, you can learn quite a bit about your finances and get a lot of ideas on how to make your money work more for you.
  2. Sometimes a professional might not ask the right question because they don’t know everything that went on in your life this year. If you learn to prepare your taxes yourself, you will become more aware if a professional is missing any deductions.

Educate yourself. This is an excellent place to start — IRS tax tips.

If a professional prepares your taxes…

Set up a meeting with your accountant/tax adviser.

Posted in: Mortgage Tips, Taxes Tagged: 2, 2016, 529, accountant, action, All, Amount Of Money, ask, before, Benefits, big, bonuses, Buying, buying a car, Capital Gains, car, charity, checklist, College, couple, data, deductions, efficient, expenses, Fees, filing jointly, finances, Financial Wize, FinancialWize, fund, great, health, Health Insurance, health savings account, How To, hsa, ideas, Income, Inflation, Insurance, interest, IRA, irs, itemized deductions, items, kids, Learn, Life, Live, LOWER, Make, married, Medical, medical expenses, money, Money Hacks, More, Mortgage, mortgage interest, Move, Moving, new, new year, Other, plan, Planning, property, property taxes, Purchase, required minimum distributions, retirement, Review, rich, right, roth, Roth IRA, Salary, sales, save, Saving, saving money, savings, Savings Account, self-employed, Side Gigs, Simplifying, Spending, standard deduction, Start Saving, state tax, stock, Strategies, tax, tax liability, tax planning, tax refund, tax season, Tax Tips, taxes, the new year, time, tips, title, traditional, traditional IRA, versus, will, work

How to Pay Off the Mortgage Early: 30+ Methods You Can Use Right Now

January 28, 2023 by Brett Tams

Timeless mortgage Q&A: “How to pay off the mortgage early?” If you’re looking to pay off your mortgage quickly, now might be an easy time to do so because mortgage interest rates are very attractive. Assuming you’ve had your existing mortgage for a while, there’s a good chance your current interest rate is significantly higher… Read More »How to Pay Off the Mortgage Early: 30+ Methods You Can Use Right Now

The post How to Pay Off the Mortgage Early: 30+ Methods You Can Use Right Now appeared first on The Truth About Mortgage.

Posted in: Mortgage Tips, Refinance, Renting Tagged: 15-year, 2, 30-year, 401k, advisor, agent, airbnb, All, amortization, apr, ARM, ask, Auto, auto loan, bad credit, balance, balance transfer, balance transfer credit card, Bank, before, big, bonus, Buy, Buying, calculator, car, cash back, chance, clear, closing, closing costs, cons, cost, Credit, credit card, credit card rewards, credit cards, credit score, Debt, Debts, deductions, deposit, earnings, Emergency, Emergency Fund, equity, estate, existing, expense, expenses, expensive, experience, Extra Money, Family, Fees, FHA, Financial Advisor, Financial Wize, FinancialWize, fixed income, fund, funds, garage, garage sale, good, home, home loan, Home maintenance, homeowners, How To, Income, Inflation, Insurance, interest, interest rate, interest rates, Investing, investing in the stock market, investments, IRA, job, jump, Life, loan, Loans, low, LOWER, maintenance, Make, making, market, math, money, More, more money, Mortgage, mortgage interest, Mortgage Interest Rates, mortgage payment, mortgage payments, MORTGAGE RATE, Mortgage Rates, Mortgage Tips, Mortgages, Move, new, Original, Other, payments, plan, Planning, PMI, points, pressure, principal, programs, property, pros, Pros and Cons, rate, Rates, Real Estate, real estate agent, Refinance, refinance your mortgage, refinancing, Rent, retirement, retirement account, Retirement Planning, rewards, right, roommate, roth, Roth IRA, Salary, save, Saving, savings, Savings Account, Sell, side job, simple, smart, stock, stock market, student, Student Loans, tax, tax deductions, tax refund, taxes, The Stock Market, time, unique, value, Which Mortgage, will, work

Should you buy or rent?

January 28, 2023 by Brett Tams

Buying a home still makes sense, but becoming a homeowner before you’re ready can have costly consequences. How much you have saved and how long you’ll stay in one place are the biggest factors in deciding whether you should rent or buy.Buying a home sounds like it makes sense, but becoming a homeowner before you’re ready can have costly consequences.

The post Should you buy or rent? appeared first on Money Under 30.

Posted in: Home Buying, Personal Finance, Real Estate, Renting, Saving And Spending Tagged: 2, 2016, 2023, advice, affordability, affordable, All, apartment, appliances, art, assets, Austin, bedroom, before, big, Budget, building, Buy, buy a home, buyers, Buying, Buying a Home, Buying a house, calculator, car, Careers, Cities, city, closing, cost, couple, Credit, credit score, debate, DIY, down payment, equity, estate, expensive, Fees, FHA, FHA loan, FHA loans, finances, Financial Wize, FinancialWize, First-time Homebuyers, Georgia, good, great, guests, health, history, home, home affordability, home buying, Home Price, home prices, home value, Homebuyers, Homeowner, homeowners, homeownership, homes, house, Housing, Housing markets, Income, Inflation, Insurance, interest, investment, job, jobs, landlord, landlords, learned, lease, Life, Lifestyle, Live, loan, Loans, low, maintenance, Make, making, man, market, markets, median home price, median home value, mental health, model, money, More, Mortgage, mortgage calculator, mortgage interest, mortgage payment, Mortgages, Move, new, offer, offers, Other, payments, personal finance, plan, PMI, private mortgage insurance, proof, property, quality, rate, ready, Real Estate, realtor, Rent, renters, renting, right, routine, safe, save, Saving, saving money, searching, Sell, sellers, simple, single, space, stage, states, stress, taxes, teaching, tenant, tenant rights, texas, time, title, town, traditional, Travel, travel the world, under, upkeep, used car, value, versus, wall, will, wrong, Zillow
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