When it comes to buying a house, especially the first one, max budget should very clearly determined. I have quite a few friends who bought something way above what they can afford and are getting screwed hard by it, no lube.
SmartMoney.com published a short article and calculator yesterday to help estimate what your cost ceiling should be. Read More
So last week my friends and I decided to visit the Animal Rescue spur of the moment. We’ve been following a super long detour to get around some major highway construction (great job PDOT..great job) and were feeling and bit loopy. Immediately after parking in their minuscule parking lot, we saw a new intake German Shepherd in their outdoor area, looking dejected as homeless dogs tend to. Pulls at the heart, no? If that wasn’t enough, we walked in to see the rest of the dogs. Rows of dogs, locked up in concrete cages, with a blanket over a formed plastic bed. Then we came upon Halle, a 5month old Saint Bernard Great Dane mix. Sad, but full of puppy spirit, and great looking too. If we hadn’t left at that point I would have had another dog in the house. This situation should sound pretty familiar. But then I thought..why are there so many dogs in shelters? It sucks!
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Net worth. Those two little words seem to at some point become a huge part of what we do. That is, unless you’re a bum or something. But as usual, I’m referring to the average worker. On a super high level, it’s just the difference between your assets and liabilities (some of you are walking liabilities..admit it). This number, your net worth, gives you a rough estimate of where you stand financially.
The Fed does a massive survey every few years and one of the reports if the net worth report, divided up by age groups and other factors. The current one is not yet published, but there is one from 2004 that can serve as a general comparison point.
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There is a high likelihood that you’ll be getting married (if you haven’t already). Although the percentage of married people is declining, it’s still well over 50%. The rate of marriages is 7.5 per 1,000 total population, according to the CDC. Given that, you better prep yourself for a wedding.
While the cost of a wedding can run anywhere from $18 (lowest cost of a marriage license, depending on state) to million$$, it would be smart to plan out a budget. Read More
Buy or Rent? Rent or Buy? It seems everyone you ask gives you some different spin on this, and no one seems to know for sure. I’ve heard a lot of “it’s a great investment..renting is just wasting money.” However, given the current housing market and economy, this may not be the best advice to follow.
In this month’s GQ, there was a pretty insightful article on home buying. If you calculate it, it turns out this whole “equity” and “good deal” thing is a total sham! If you have a giant stash, then sure, buying a home can be a good deal, but otherwise, you may want to think about it a bit more.
A good place to start is the New York Times online rent-versus-buy calculator. With it you can plug in the numbers such as size, zoning, rent, cost of houses, etc..and it will tell you how long you have to live in the house before the costs even out. Depending on your location, the calculator might surprise you. It’s a pretty well written light article and easy to read, so go grab a copy of the Feb GQ and read it. It’s the one with Rachel Bilson on the cover. Yes, there are pictures. Hooya hoo hoos.
Many people have an interest in starting their own business. Either it be from a strong entrepreneur spirit, or you’re just sick of working for your belligerent boss, many consider the prospects of leaving the supposed rat race. Being an entrepreneur indeed has its benefits, but many do not see the not so cheery extras that come with working for yourself.
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These first few years out of school, we’re usually stuck with loans, credit card debt, car payments, and basic living expenses. This leaves us with not much left over for non-essentials, such as toys and expensive clothes. However, there’s no reason you can’t look good without going into debt. These tips are mostly for the guys, since I’m not an avid reader of Cosmo (we’re workin on getting that female writer).
Anyone with substantial credit card debt knows the frustration of trying to reduce a pesky balance. Monthly fees and prime interest rates can sometimes make consumers feel helpless. Luckily, along with a little spending discipline and a good strategy for reducing balances, introductory rates can make becoming debt free within your reach.
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Paying off debt ranks among the most important things a person who wants financial stability should do since being in financial debt affects just about everything from trying to rent an apartment to getting a loan for school. But it’s also important to know which debt to pay off first, how to choose which debt to pay off first and why it is important to pay it off. Read More
After living for a year in the second most expensive city in America, I was ready to look for a new apartment, and I wondered how much I could afford. But to be honest, I had no idea how much I should be paying for rent. Some people say 15% of your income, others say 50% of your income, but I didn’t want to take the risk of taking someone’s random opinion. I wanted real answers.
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