Economy Is Improving, but Recession Risk, Inflation Still Hover
It seems inflation is, indeed, being tamed. But itâs still uncertain whether the U.S. is in the clear or if a potential downturn is ahead.
It seems inflation is, indeed, being tamed. But itâs still uncertain whether the U.S. is in the clear or if a potential downturn is ahead.
A major goal for most parents is to see their children graduate from college and receive a good job so that they can live a long and fruitful life. The recent financial fiascos of the United States have put a strain on the ability of government to contribute to the ever increasing costs of college. […]
The post How Much Should You Really Save For College? appeared first on Good Financial Cents®.
For some prospective college students, taking out student loans is a breeze. When you have a supportive parent there to explain the fine print and co-sign on the dotted line, all you really have to do is fill out some paperwork. But not everyone is so lucky. Even students without the support of their parents
The post How To Apply For Student Loans Without Your Parents appeared first on MintLife Blog.
One of our parenting goals is to rear frugal kids. Take care of their stuff. Spend wisely. Save for a rainy day.
Making the goal is easy, but implementing the goal? Definitely harder.
Over the last couple of years, we’ve been experimenting with the best ways to teach our kids to manage money. What I’ve learned is that it’s best to keep our system flexible as the kids mature and develop more skills. So we decided that our system will probably always be subject to change so we can accommodate their growth, but here’s how our family’s allowance system currently works:
We live in a busy world. It can be challenging to keep up with work, family activities, friends, and even ourselves. But if there is one thing thatâs important, itâs balance. Everything in moderation is the key to happiness. October is National Work and Family Month. Established by the U.S. Senate in 2003, the initiative
The post Creating Balance Between Work and Family Life appeared first on MintLife Blog.
While visiting Raleigh earlier this month, I spent a morning with my pal Justin (from the excellent Root of Good blog) and his wife. As we sipped our coffee and nibbled our bagels, the conversation turned to cost of living. (Money nerds will be money nerds, after all.)
“Things are cheaper here in North Carolina than they are in Portland,” I said. “Food is cheaper. Beer is cheaper. Hotel rooms are cheaper. Your homes are cheaper too. Last night, as I was walking through the neighborhood next to my hotel, I pulled up the housing prices. I was shocked at how low they are!”
“Yeah, housing costs are lower here than in many parts of the country,” Justin said.
“Take our house, for instance. We bought it in 2003 for $108,000. Zillow says it’s worth around $198,000 right now. But I’ll bet that’s a lot less than you’d pay for a similar place in Portland.”
He’s right. Justin and his wife own an 1800-square-foot home on 0.3 acres of land. Their place has four bedrooms and 2.5 bathrooms. There’s only one place for sale in Portland right now that matches these stats and it’s going for $430,000 — more than twice the price the same home would fetch in Raleigh.
Housing is by far the largest slice of the average American budget, representing one-third of typical household spending. Because of this, the best way to cut your costs (and, therefor, boost your “profit margin”) is to reduce how much you spend to keep a roof over your head.
One obvious way to cut costs on housing is to choose a cheaper home or apartment. But if you truly want to slash your spending, consider moving to a new neighborhood. Or city. Or state. If you’re willing to change locations, you can supercharge your purchasing power and accelerate your saving rate.
Cost of living is one of those factors that people seldom consider, but which can have a huge impact on the family budget â sometimes in unexpected ways. According to The Millionaire Next Door:
Living in less costly areas can enable you to spend less and to invest more of your income. You will pay less for your home and correspondingly less for your property taxes. Your neighbors will be less likely to drive expensive motor vehicles. You will find it easier to keep up, even ahead, of the Joneses and still accumulate wealth.
It’s one thing to talk about the effects of high cost of living, but another to actually experience it.
If you’re looking to pick up work for the holidays, now is the time to act.
Being in college is all about learning new skills. Sometimes that means learning how to cook on your own or how to manage a busy class load.
Learning how to build a credit history is one of the many skills every college student should have. It may sound strange, but using a credit card can build those skills and create solid financial habits.
The post How To Leverage Student Credit Cards As A Financial Opportunity appeared first on MintLife Blog.
New data shows job openings are high and jobless claims are low, with a 3.4% unemployment rate, which isn’t ideal for mortgage rates.
All across the nation, families are struggling to get ahead. For some, the rising costs of healthcare chip away at their gains. For others, stagnating wages and college bills are a real problem. Then there are those who claim raising kids makes it impossible to grow wealth. No matter where you go, youâll hear stories of hardship […]
The post GFC 076: The One Monthly Payment KILLING Your Wealth appeared first on Good Financial Cents®.