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You've been dreaming of owning a home for years, and now you're finally ready to make the leap. You've found the perfect place and may have even started deciding where to put the furniture, but you still have one big obstacle standing in your way: getting a mortgage. If you've never bought a home before, the whole process can seem a little confusing. One of the first things you have to figure out is whether you should get a fixed-rate or adjustable-rate mortgage. Most people choose the fixed-rate mortgage without even thinking about it, but there are situations where an adjustable-rate mortgage may be a better fit.
Do you hate the idea of brown-bagging it as everyone else in the office goes out for lunch? Do you dread parking your old-school Camry in a lot full of BMWs? Do you hope no one sees you with your coupons in the grocery store? If keeping up appearances is important to you, there are plenty of ways to do it without resorting to falling into debt. Here are 10 ways to look like you're living large without overspending.
In many families, money was once a taboo subject. Kids would grow up with a vague idea that their parents made enough to support the household, but it wasn’t until they got their own jobs that they began to understand how finances work. Fortunately, these days, kids learn about money much earlier, thanks to their own savings accounts, open conversations about budgets around the family dinner table, and college savings funds that might be opened before they take their first steps.
Most of us are well aware of the importance of creating budgets and plans for our personal finances. However, sometimes we forget that we also need to teach our children about planning and budgeting. This article will look at creating a saving and spending plan for your child to help steer them toward financial wisdom.
If you could erase your credit card debt by giving up Facebook for a year, would you do it? Most Americans said in a survey they would give up social media – among other things – to get rid of their debt. Credit card debt has continued toclimb over $1 trillion, with the average cardholder having a balance of $6,375, according to a report by Experian. One in three Americans is losing sleep over their debt, and one quarter report that debt has hurt their relationships with family, according to a survey by Mr. Cooper, a non-bank mortgage servicer and lender.
Helping your kids live out their dreams of going pro in sports can get pretty expensive. A TD Ameritrade survey found that 63% of families spend from $100 to $499 per child each month on youth sports. That adds up! Eighteen percent reported spending $500 to $999 monthly. If your child is playing at regional or national club level, you could shell out thousands of dollars annually paying for tuition, uniforms and travel to tournaments.
With airfares still low and the U.S. dollar strong, many Americans are traveling abroad. But once they get there, they need to be wary of exchanging money. It's easy to get ripped off. The first rule of thumb is to avoid foreign exchange kiosks and storefronts, says Matt Schulz, senior industry analyst at CreditCards.com. “The rate you are going to get simply isn't what you can get through a credit card,” Schulz says. Or even a debit card, for that matter.
According to the Huntington Bank Backpack Index, the cost of school supplies increased 88% from 2007 to 2016, and their recently released 2017 report anticipates increases of 1.0% for elementary and 4.6% for middle schoolers this coming school year. Even so, there are reasons that parents can feel good about back-to-school shopping.
Whether you are newly enlisted or have years of service under your belt, owning a home can be a great investment but it also can cause financial stress and difficulty if you have to move at a moment’s notice.
All working Americans need retirement savings, regardless of gender. But the need is particularly strong for women, since they have a tendency to live longer than their male counterparts. They're also more likely to require paid care at some point — as a spouse may not be around to provide care. It's therefore unsettling to learn that women are only saving about half as much as men for the future. In a recent Student Loan Hero study, women had an average of $45,614 socked away for retirement, whereas men had $90,189. That sort of gap could put women at a severe disadvantage later in life.
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