I love owning my home. I could probably never go back to renting. I don’t want anyone telling me how much noise I can make, how big a nail I can use to hang a picture, or that I can’t paint my wall neon orange. (Not that I would do that, but I bet if my kids got ahold of that idea I’d end up with a neon orange wall…) But when you sit down and look at the numbers, it can … [Read more...] about The True Cost of Homeownership Is Higher Than You Think
In the personal finance realm, a lot of digital ink is spilled on ways to save money and build wealth. But one topic that doesn’t get addressed very often is giving. I can understand why – personal finance is by its very definition “personal”. And avoiding talking about how we spend money, much less why should we tithe, is a great American pastime. But I think avoiding … [Read more...] about Why Should We Tithe: The Compound Giving Effect
Whether good debt or bad debt, we all know debt levels are out of control. The statistics are staggering. Collectively, Americans owe almost $1 trillion (yes, trillion with a “T”) in credit card debt. And that’s not even close to the largest category. Mortgage debt tops $9 trillion, auto loans another $1.25 trillion, and count another $1.5 trillion toward student debt. If … [Read more...] about Good Debt vs. Bad Debt – What’s the Difference?
I have some bad news. Planning for retirement is a lot harder today than it was for our parents. Pensions are a thing of the past. But you probably already knew that. Less than 13% of employees currently participate in a pension plan, and that number keeps going down. But here’s the good news: the rise of 401(k)s and other retirement savings plans ultimately give you way … [Read more...] about 401(k) Mistakes to Avoid