Medical Debt/Travel Insurance Update

Medical Debt/Travel Insurance Update

In a couple of posts earlier last month I alluded to a trip I had taken to South Africa (read here and here). In one of those posts I mentioned how one of my students broke her ankle abroad and I had to put up over $5000 in medical expenses. To recap, about a week into our trip one of my students slipped and broke her ankle. Before the trip our university issues insurance cards for all the students and…

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The #1 Rule of Personal Finance

The #1 Rule of Personal Finance

If look at personal finance articles there are all kinds of rules to pay down debt, budget, buying a house, etc. However, all of those rules pale in comparison to the #1 rule of personal finance. That rule is: PAY YOURSELF FIRST!!! What Does Pay Yourself First Mean? So now you know the rule, but you may not know how to carry it out. What does it mean? Does it mean you physically take your paycheck and give yourself some…

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Being Normal Financially Sucks or Take a Different Financial Pledge

Being Normal Financially Sucks or Take a Different Financial Pledge

There are many things where I want it to be “normal.” I want to be a “normal” weight, which means I have to lose a few pounds (well more like 50). I want to have a “normal” family, which means having children. I want to own a home, which is normal. I want to go on a family vacation to Disney World, etc. However, when it comes to finances being a normal American for lack of a better word SUCKS!…

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Living for Now vs Living for Later

Living for Now vs Living for Later

One of the great things about personal finance conversations is that the continually provide me with new inspiration for new blog posts. One conversation, in particular, happened a couple of weeks ago with a friend. We were talking about travel, investing and the like. And I was amazed by how many different places he was going and the like. Part of the reason he was able to travel so much was because of his travel hacking abilities (which I envy…

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Teachers and Talking About Money, Part II or My Contributions to the Issue

Teachers and Talking About Money, Part II or My Contributions to the Issue

A few months ago I wrote a blog post about teachers and money. I wanted to talk a little bit more about that subject and update what I am going to try to do on the subject. Readers of this blog know that I am a college professor. Mrs. ROB is a college professor. My brother and his wife are teachers. My best friends are teachers/college professors. And I teach at one of the best universities in the country for…

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Our 2016 Taxes

Our 2016 Taxes

It is going to be another snowpacalypse here in New England. Practically, every school is shut down, government offices are as well and the roadways are empty. Because of that and the fact that it needed to get done I decided to do our taxes for 2016. In my previous post I talked about how everyone can do their taxes and probably save a little money. It is also a good way to get to know your finances. So I…

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Should You Do Your Own Taxes?

Should You Do Your Own Taxes?

It is that time of year again. It is time for all of us to submit our 2016 tax returns. I am sure you have received all kinds of mail including your W-2s, student loan interest payments, 1099s for interest, property tax statements, mortgage interest produced, etc. All of that paperwork can be daunting. It is also that season when you get all kinds of ads for people to do your taxes. H&R Block, Liberty Tax Solutions, Jackson Hewitt, etc…

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Maxing Out My Retirement Account

Maxing Out My Retirement Account

I have big debt payoff goals for 2017. I also know that we have some expenses coming up that are necessary (e.g. a new electrical panel, etc) for our household. However, even though I know we have these expenses and I want to pay off our car I decided to max out one of my retirement accounts for the first time. I have three different retirement accounts. I have a 401(a) not a 401k. I have a 403(b) in addition…

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President Trump and Student Loans

President Trump and Student Loans

Donald Trump’s first week as president has caused a great deal of controversy. Trump has signed orders on national security, immigration, mortgages, the national security council, Obamacare and others. Moreover, the Republicans and Trump have a busy legislative agenda over the next few months as they attempt to repeal and replace Obamacare, change the tax code for corporations and individuals, crack down on immigration, and tackle foreign policy issues. Trump’s presidency will definitely impact all kinds of aspects of personal…

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A Debt Decision

A Debt Decision

A few days ago I posted my financial goals for 2017. I also reviewed my goals for 2016 and how I failed on about 1/2 of them. One of the goals for 2016 was figure out what to focus on. In other words, should I focus on paying down debt, saving for retirement, saving in general. I have a good deal of trouble of focusing on one specific item because I want to try to do things all at once….

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