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...]
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...]
How to Make Your Retirement Savings Grow As Fast as Possible
Have you started saving for your retirement? When you are young it might seem like a long way away, but in order to save enough money to stop working the earlier you start, the better. But what if you want to make your retirement savings grow faster and perhaps retire a few years earlier? Here are some tips that will help you accelerate towards your goal: Have a Concrete Goal Amassing enough wealth to comfortably retire is a long and methodical process and it takes a lot of commitment and delayed gratification. It is a lot easier to stay dedicated if you have a specific goal and you can see … [Read more...]
Don’t Make These Financial Mistakes When Buying a Home
Owning a home is a very important milestone in life and for most people it is the largest purchase that they will ever make. Many first time home buyers are so eager to move into their new property that they overlook the fine print and details and make some mistakes. Buying a home is a complicated process and there are many things to keep in mind when you are making these important decisions. Here are a few financial mistakes to avoid when buying your home: Not Making a Large Down Payment One of the first rules to buying a house is that you should pay as much of a down payment as you can … [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...]