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Category: Money Management

Financial Goal by 50: Hit the Two Comma Club

Financial Goal by 50: Hit the Two Comma Club

I am sure all of you have heard about goal setting and how to reach your goals. I promise this post is not about that. There are all kinds of great advice about hitting your goals. That includes making them realistic, creating vision boards, starting with small things and working into larger items, etc. We all should try to have goals. I mean what is the point of life without having to live for some goal. And it doesn’t have…

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Financial Tip Friday: How Much Car Can/Should You Buy?

Financial Tip Friday: How Much Car Can/Should You Buy?

I have to admit I love the idea of having a nice brand new car. I mean who doesn’t love that new car smell. It’s all clean and wonderful. But I then snap back to reality pretty quickly because I realize that car will be worth at least 10% less the minute I drive it off the lot. And if I have to finance it that car payment will probably be with me for 3-4 years. Plus, the car goes…

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Do You Have a Money Disorder?

Do You Have a Money Disorder?

All of us have some kind of problem with money. Some of us don’t have enough, some might have too much. Some might not manage it well. Some might not manage it all. People disagree about spending, saving, credit, how to raise their children with money, etc. Everyone has some potential issue with money. I ran across an article in Psychology Today a bit ago asking if people have a money disorder. I took the survey they give and almost…

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Public Service Loan Forgiveness Blues and Student Loan Face Punches

Public Service Loan Forgiveness Blues and Student Loan Face Punches

I have chronicled my student loan journey on this blog for the past couple of years. At first, I wasn’t in favor of doing Public Service Loan Forgiveness (see here, here). Then I finally saw the light and I enrolled. I even created a presentation about it for other folks that needed help (in other words I did a total 180). Mrs. ROB is also enrolled in PSLF even though she teaches part-time at multiple institutions. So our current problem…

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Paying Some Stupid Tax

Paying Some Stupid Tax

One of the phrases that Dave Ramsey has become popular for is when someone has to pay “stupid tax.” And it probably isn’t his, but I have heard it most when listening to his show. Today, I was driving to work and I was listening to some old segments of people paying some stupid tax. In essence, stupid tax is where you buy something or do something that actually costs you more money than what it was worth. It could…

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If You Can Afford a Vacation You Can Afford to Invest

If You Can Afford a Vacation You Can Afford to Invest

This post today is a response to a few comments I saw on different Facebook feeds and other blog posts regarding planning for retirement. The basic conclusion I received from these comments are two-fold: 1) they could not afford to put any money away for retirement; 2) they didn’t have the time right now to deal with the situation. And in that same vein, similar people were responding to different posts and articles about vacations and the like (e.g. where…

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Our House Is My Debt Piggybank

Our House Is My Debt Piggybank

I have written a number of posts about home ownership. Generally, I think owning a home is a good thing. However, there are a variety of costs that can make it more costly than renting depending on the situation. In fact, I have argued that if you can’t save or have trouble saving that you could view your home as “forced” savings. In other words, paying down the mortgage and the home value going up gives you the ability to…

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How to Evaluate Mutual Funds

How to Evaluate Mutual Funds

Last week I talked about strategies I try to use to conquer the fear of missing out. Part of that post was focusing on staying the economic course. Part of my course is a focus on buying cheap, index funds. In fact, many personal finance bloggers (it might be most, but not all) also adhere to this rule. Warren Buffett has even argued his financial advice to people would be to stick their money in a low-cost index fund. I…

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Earmark Extra Income Ahead of Time

Earmark Extra Income Ahead of Time

One of the favorite things my dad would always tell me was that when I had money it was “burning a hole in my pocket.” And in some respects that was/is true. I remember using my allowance to buy toys, food, and games or other items. I don’t remember saving a lot of my money as a kid. I mean I had a savings account, but when I went to college I had enough money for spending money, but that…

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Rules of Thumb for Buying a House

Rules of Thumb for Buying a House

A few days ago CNBC had an analysis where they put out what salary you needed in order to afford a home in 20 cities. Their basic criteria is how big of a salary you needed if you put down 10% or 20%, 4% 30 year mortgage with a 45% debt to income ratio. For example, to afford a median priced home in San Antonio (140k) with 10% down you need a salary of 23k and 20% down you would…

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