Ben Edwards's Blog: Money Smart Life, page 10
February 5, 2014
What If You – Won’t – Have a Fat 401(k)?
In the financial world it’s generally assumed that you – and just about everyone else – will have a fat 401(k) plan by the time you retire.That plan will be the bedrock of your entire retirement strategy. But let’s play devil’s advocate here for a minute: What if you won’t have a fat 401(k) plan?
It’s actually more than a remote possibility. In fact, according to statistics the average American probably won’t have anywhere near enoughin their401(k) plans to be able to retire completely.
What ar...
February 4, 2014
Why You Should Buy the Least Expensive House You Can Afford
The housing market has changed a lot in just the past few years. The old philosophy of buying the most expensive house you can afford has become obsolete. There are far more advantages to buying the least expensive house you can afford.
Consider some of the following . . . .
Lower Down Payment and a Lower Monthly Payment
Every expense and cash outlay that you have in connection with a house rises and fallswith the price that you pay to purchase it. That includes your down payment. For example, i...
February 3, 2014
The Amazing Benefits of Rental Real Estate
The stock market closed out 2013 with a new high. There’s certainly a lot of buzz around the market right now, but often that’s one of the best times to start seriously investigating alternative investments. As the saying goes, what goes up, must come down.
That doesn’t mean that the stock market is headed for a fall, but record price levels tend to be difficult to sustain. That means that now may be an excellent time to get really serious about diversification. One alternative with amazing be...
January 31, 2014
Which Spouse Should Be the Stay-at-Home Parent?
In most cases where there is a decision to be made about which spouse should be the stay-at-home parent, the choice favors the wife/mother. Instinctively, this seems to be the best choice, particularly when it comes to parenting. But there may be some objective factors that should be closely examined before making a snap decision.
There are evensituations – increasingly common these days – where it might be better for the man/father to be the stay-at-home parent. Here’s a list of consideration...
January 30, 2014
3 Ways to Pay Veterinary Bills Without Going Broke
Medical costs for people aren’t the only healthcare costs rising. Veterinary care for our pets is rising too. Not only can large veterinary bills strain a household budget, but they can also force us into making tough choices. Do we go ahead with a life-saving surgery for our beloved pet, or do we decide that the cost is simply too high?
We don’t have to make such choices when it comes to people. After all there’s health insurance, and even if you can afford it, there’s the Hippocratic Oath th...
January 29, 2014
What to Do if You’re a Saver and Your Spouse Isn’t
Married couples can facefinancial stressors on various fronts. Maybe this isn’t even a stress – but a preference – but what do you do if you’re a saver and your spouse isn’t?
It’s actually a serious dilemma though, even if many would not consider it to be an actual problem. Some people have a deep emotional need to have savings. Others could care less. If you are inthe ‘deep emotional need to save’ category, and your spouse isn’t, what can you do?
1. Give your spouse the lion’s share of househo...
January 28, 2014
How to Start Saving for Summer Vacation – Start Now!
It’s a time-honored tradition: When summertime comes around, it’s time to go on vacation. However, vacations can get expensive if you aren’t careful.
When I was growing up, most of our summer trips revolved around the great outdoors. With five kids, my parents weren’t too keen on flying us around. Instead, we did a lot of camping and short road trips – all relatively inexpensive vacations.
However, there was one summer that we took a serious vacation: A three-week trip traveling through the mid...
January 27, 2014
Why You Might Need to Set Smaller Goals in 2014
This is the season of resolutions, as in New Year’s resolutions. But resolution is mostly just a fancy word for goals that we trot out at the beginning of each year as a way of raising our commitments to achieve them.
If you’re like most people however, you have more than a little bit of difficulty in translating your resolutions – goals – into reality. If that’s the case, it may be that you need to set smaller goals in 2014. Smaller goals are simply more achievable, and it’s only when you can...
January 24, 2014
4 Mistakes That Can Drag Down Your Credit Score
Credit scoring has become big business. There are a number of scoring algorithms that can impact the way financial service providers see you. Your credit score influences decisions about whether or not you should get a loan, as well as whether or not you should have favorable terms when you are approved for a loan.
Not only that, but there are instances when your credit score can impact your insurance premiums and other aspects of your financial life. As a result, it’s important for you to do...
January 23, 2014
How to Borrow Money if You’re Bankrupt
One of the most difficult situations to overcome is bankruptcy. When you declare bankruptcy, it can be difficult to recover – and to convince creditors to lend to you again.
While it might be difficult to find lenders after you file for bankruptcy, it is possible to borrow money even in this dire situation. Getting to that point might require some hard work on your part, though.
You Can Borrow as Long as Someone is Willing to Lend
Understand that anyone can borrow any amount, as long as a lender...
