Browsed by
Category: Money Management

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…

Read More Read More

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…

Read More Read More

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…

Read More Read More

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…

Read More Read More

What Are Your Financial Dreams?

What Are Your Financial Dreams?

The last year has been somewhat of a tough one for the ROB household. As many readers know, Mrs. ROB and I are actively trying to have a family. Our initial IVF treatment was successful, but Mrs. ROB unfortunately miscarried so you can imagine what Mother’s Day was like for her. Our 2nd round didn’t go as well. So we are starting another round and it was recommended that Mrs. ROB/we join a group where couples/particularly women can go, talk about…

Read More Read More

My Advice to New College Graduates: Live Like a College Student

My Advice to New College Graduates: Live Like a College Student

The end of the school year is always bittersweet for me. On the one hand, I get to watch several students graduate who I have become close with over the past few years. On the other, my world is much sadder that they are gone. It is also the time when commencement speakers will offer all kinds of advice to upcoming graduates. So consider this my version of a commencement address to my students on personal finance. My Advice to…

Read More Read More

Want a New Financial Future? Own Your Past

Want a New Financial Future? Own Your Past

In some respects this post is like a Dr. Phil episode. I fully admit I watch Dr. Phil every once in a while because I am fascinated by the stories. Frankly, if your life isn’t a Dr. Phil, Maury, or Jerry Springer episode can life be really that bad? The truth is it can, particularly financially. A lot of us make New Year’s resolutions regarding personal finance, but we don’t follow through with them for a variety of reasons. In…

Read More Read More

Parents: 10 Things to Consider Before Taking Out PLUS Student Loans

Parents: 10 Things to Consider Before Taking Out PLUS Student Loans

One of the great or perhaps unfortunate things about my commute is that I get to tune in for some full-length NPR programming. I especially love Tom Ashbrook’s show On Point. In fact, he seems to be inspiring a lot of blog posts lately. Anyway, I was listening to a recent segment on a growing segment of student loans that is becoming more worrisome. Specifically, parents who are taking out loans to pay for their children’s higher education. I won’t…

Read More Read More

Are You Feeling Job Locked?

Are You Feeling Job Locked?

Do you ever get to a point in your career or your job that you feel like you are locked into it? You feel like you cannot leave, but you want may want to for a variety of reasons. I am not necessarily talking about myself, but I have had conversations with friends that as we get older we might want to do other things with our lives and/or we feel like we can’t do so because of the money/stability…

Read More Read More

How To Protect Your Portfolio From a Big Stock Market Decline

How To Protect Your Portfolio From a Big Stock Market Decline

  Reader Note: From time to time this blog will post guest posts. Today I have a great post from Troy over at Market History. You can obtain more sage wisdom over at his blog. Markets adhere to cycles because the stock market is ultimately tied to the state of the economy. Economic expansions and contractions have cycles as well. Economic expansions in the U.S. have historically lasted 5-10 years. We are currently in year 8 in this economic expansion….

Read More Read More