Mortgage rates have been at record lows for quite some time, making it easy for new homebuyers to finance their dream homes. But what comes down will eventually go back up, and with the world economy expected to rebound in 2016, we're about to start seeing more expensive mortgages. So what can you do to prepare yourself before mortgage rates start to rise? Here are some strategies that will keep you ahead of the game. Start Saving More Money Now If you have a variable rate mortgage, you've benefited from great interest rates that this world won't see again for quite some time. Hopefully, … [Read more...]
How to Reduce Your Expenses During Retirement
You have worked hard for most of your adult life and the day has come that you will retire and enjoy the freedom of your golden years. You might take up a hobby, volunteer, or just enjoy working in your garden and socializing with your friends. If you have been planning ahead and contributing to your retirement fund, you will likely have a nest egg built up which will help you support yourself once you leave your job. However, it is important to keep your expenses down when you are retired so that your spending won’t outgrow your savings. If you can reduce your outgoing costs during your … [Read more...]
House on Fire! Easy Tips to Save You Money on Home Insurance
Earthquakes, windstorms, rain damage, flooding, falling trees, vandalism, burglary… there are many things which could possibly happen to cause damage to your home. This is why homeowner's insurance is important, so that you can be protected in these unfortunate events. However, home insurance doesn’t have to be as expensive as you might think. There are a few ways that you can reduce the cost of this insurance and protect your home for less. Take the Time to Shop Around You don’t need to sign up for the first home insurance that you come across, as you will likely be able to … [Read more...]
Smart Ways to Use Your Tax Refund
If you are expecting a large tax refund this year, what will you do with it? It might be tempting to spend this large windfall on shopping, eating out and other fun things. However, a tax refund is also an opportunity to gain some financial headway and set you up in a better situation for the future. Here are a few smart ways to use your tax refund this year: Create an Emergency Fund If you are currently living from paycheck to paycheck, you are treading water on the surface of your finances and any unexpected disaster can pull you under and cause you to start drowning in debt. If your car … [Read more...]
The Importance of Paying Yourself First
If you are like most other average Americans you will have a list of bills that you have to pay every month, such as rent, cable, internet, cell phone, water, electricity and much more. If you were to list each of these monthly expenses in order of importance, which would be number one? The answer is none, because there is one payment you need to make which is even more important than all of these and that is to yourself. The bill of “You” should be the first payment you make before you make any of your other payments. You can pay this bill by contributing a certain amount of your … [Read more...]