The Total Cost of a Home Mortgage

Buying a home is a major event in our lives, and the excitement can easily overshadow the long-term financial commitment we’re about to make. This is especially true when we’ve found a home that we love. The property taxes, maintenance, and mortgage obligation that we’re committing to, often take a backseat to the excitement of […]

4 Ways to Eliminate Debt

There are several debt reduction approaches that have proven successful for many people. We can concentrate or focus on paying the smallest debt, the largest debt, or the debt with the highest interest rate. Or we can use debt consolidation and simplify the situation with a single bill each month. To compare the methods, let’s assume […]

Spending and Lifstyle Decisions

Spending and Lifestyle Decisions The most important factor in managing our personal finances is our control over where our money is going. Before we can establish financial goals or move forward with a financial plan, we need to be honest with ourselves about our spending habits. And our spending habits are most often driven by […]

Eliminating Debt !

The most popular approaches to debt elimination are: paying off the largest debt first, paying off the smallest debt first, paying off the debt with the highest interest rate first, and loan consolidation. In my book “Personal Finance Simply Understood” I walk through a detailed analysis of these approaches using various loan and debt amounts, and […]

Personal Economic Value

What is personal economic value and why is it important? Our personal economic value is our earnings potential or what can we expect to earn between now and when we plan to stop working. As an example, if I currently earn $44,000 each year, I’m 32 years old, and I plan to retire at age […]

Holiday Spending Plans

Will you be splurging a little or a little too much for the Holidays? Do you plan to set a spending limit this year, and if so, how confident are you that won’t spend above it? In the coming weeks, the news will be filled with statistics about whether holiday spending is up or down […]

Mortgage Durations and Monthly Payments

Buying a home is a major event in our lives, and the excitement can easily overshadow the long-term financial commitment we’re about to make. We tend to view a mortgage much like a car loan and focus on the monthly payment, while overlooking the cost of the loan or total amount of interest that will […]