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 […]

Compound Interest Simply Understood

Most bank savings and money market accounts provide periodic compounding of interest, which is the interest being applied to the balance for a given period (usually monthly). What makes this such a great benefit, is that the interest applied in the current month, is applied to the balance that includes the interest from last month […]

Establishing a 3 Tiered Saving Plan

We have to pay for necessities and make monthly payments on debt, so when we manage our finances these items get our attention. Saving on the other hand, tends to get the least attention because it seems optional. We can’t skip paying our rent or a car payment, but we can skip a deposit to our savings (or so it seems). […]