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Month: April 2016

Home Refinance Update…We Saved $20,000

Home Refinance Update…We Saved $20,000

So it is amazing what can happen in just a couple of days with regards to one’s finances. On Wednesday I wrote about how my debt train my be derailed from a little financial snafu that occurred. I found out that I had accidentally set up automatic payments when I paid my mortgage ahead. Because of that the bank took out a payment when I wasn’t expecting it. ┬áThat extra payment left me over $1600 in the hole, plus we…

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My Debt Train Might Be Temporarily Derailed

My Debt Train Might Be Temporarily Derailed

A couple of weeks ago I was really excited to announce that I was going to be able to pay off my personal loan by the end of June. I was able to engage in this strategy because I had paid ahead my mortgage by three months. Additionally, I did so so that I could get my mortgage balance down to a point where I could refinance with a specific home equity product. Because of those mortgage payments I would…

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Pricing Your Home to Sell

Pricing Your Home to Sell

Mrs. ROB and I are not looking to sell our home anytime soon, but I have become fascinated over the past few months about real estate and how other people determine the price of their home on the market. There are three things that I think are driving this interest in home prices. Part of my fascination has to do with our own refinance journey (a future post coming up shortly). In order for our refinance to go through we…

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Financial Tip Friday: Trouble Saving? Your Home Is Forced Savings

Financial Tip Friday: Trouble Saving? Your Home Is Forced Savings

There was a recent article in The Atlantic entitled “The Secret Shame of Middle-Class Americans.” The basic premise of the article is that most middle-class Americans would have trouble even paying for a small $400 emergency. Now a $400 emergency is nothing to sneeze at, but it is fairly common. I mean you need new tires for your car, other car repairs, a new water heater, etc. $400 is actually probably a low number for a number of emergencies and…

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The “Four Walls” Emergency Fund

The “Four Walls” Emergency Fund

At one point in your life you will encounter a financial emergency. Now the word emergency could be defined in a number of different ways. An emergency to me is something that comes up suddenly that can lead to a great detriment to one’s life. For example, if your engine blows up in your car or if you lose your job suddenly those would be emergencies. In fact, there is a possibility that many of us will lose our jobs…

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Financial Tip Friday: A Cool Way to Pay Off Your Mortgage Quicker

Financial Tip Friday: A Cool Way to Pay Off Your Mortgage Quicker

This was a post from last year that I have since updated, but it is one of my favorite posts. In light of Financial Literacy Month I hope this can be helpful to some people. Updated 4/15/2016 I know that I shouldn’t even be thinking about paying off my mortgage or paying it down. However, when I am at the gym or in quiet moments when I am not thinking about Mrs. ROB, finishing my research, or teaching, my mind…

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We Can All Be Millionaires

We Can All Be Millionaires

Now before anybody thinks that I have lost my marbles regarding becoming a millionaire this does take some perspective. My post is not directed at someone who is 2 years from retirement and hasn’t saved anything, but really dedicated to those who are my age and younger, particularly my students. Why a Million Dollars? That is a good question. I think a million dollars is what a lot of people use as a bench mark for success. I mean you…

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Americans Love Keeping Score

Americans Love Keeping Score

A couple of Saturdays ago I was listening to the Ric Edelman show on the radio as I drove to the gym and he said something that really stuck with me. He noted that Americans favorite pastime is keeping score. It isn’t baseball, football, hockey, or shopping, but it is keeping score in some way shape or form. And as I thought about it I think he is totally right. Think about how we keep score on a daily basis….

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Financial Tip Friday: The Snowball Method of Paying Off Debt

Financial Tip Friday: The Snowball Method of Paying Off Debt

Paying off debt is one of the most challenging things that a person faces. I certainly have struggled with it over the past year and a half of this blog. So far I have paid off about $40000 in about 20 months. Not bad I know, but I dug myself that hole to begin with so I can’t be too proud of myself. With the average student loan debt of students being $30000, plus credit card debt, plus a car,…

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Financial Literacy Month Challenge

Financial Literacy Month Challenge

April is Financial Literacy Month and Americans, including myself, are pretty woeful when it comes to their knowledge about personal finance. According to a USA Today article 46% of Americans are in constant financial insecurity. ┬áPart of that financial insecurity is not only income because plenty of people receive windfalls and/or make a lot of money and are financially insecure but that insecurity comes from a lack of knowledge. So in honor of Financial Literacy Month I am issuing a…

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