Can you beat the credit card companies at their own game?
Yesterday I read another blog about a guy who owes thousands of dollars to credit card companies, however he also has thousands of dollars in the bank. He could pay off the credit card balances, but instead he keeps the money in the bank to collect interest, Why? Because most of the credit card balances carry a 0% interest rate. Can you really come out ahead in this game?
Analyzing a famous money quote
According to the Random House Dictionary of Proverbs and Sayings, the phrase “Money is the root of all evil” first appeared in English circa 1000 A.D. The saying originated in the New Testament. “For the love of money is the root of all evil.†Timothy, 6:10. Samuel Butler has also been credited with saying “The want of money is the root of all evil.” The two quotes basically share the same meaning, but are they true? Is money really the root of all evil?
Dave Ramsey, the real deal?
Dave Ramsey is the famous voice of radio, TV, and stage who talks about financial matters and teaches us the steps to a debt free life, creating a budget, building wealth, planning for retirement, and finally giving to others. He is a great motivational speaker and all of his principals are built around Biblical teachings. The Dave Ramsey plan sounds great but is he the real deal? Does he really care so much about his loyal listeners or has he just formulated a creative plan for his own financial gain?
Keep mortgage and Invest?
Here is a topic that I’ve talked to many people about and get very mixed opinions on what is the best choice. Should you keep your current mortgage and only pay the minimum payment, putting any extra money you have into investments? Or should you pay all extra money toward the principal of your mortgage and then invest heavily when the mortgage is paid off?
When should you teach your children about money?
Many wonder at what age is it appropriate to start teaching your children about money? When can the understand the concept of money and finances? Some may disagree with this but I think you can start teaching a child as early as three.
Cash Advance or Pay Day Loans Rip Offs!
Hopefully no one reading this has taken part in this type of “loan”. Cash advance or pay day loan businesses are the biggest ripoffs in the industry and in my opinion should be banned from business! First off only lower income families will take part in this scam which means the rich is only taking advantage of the poor. Let’s take a look at how they work and the evil practices they take part in.
Refinance Your Home Loan to Pay for Car?
Should you refinance your existing home loan to pay for your car loan? When you first think about the logic it doesn’t sound like a financially smart choice to make, but after doing some math could you actually save some money? Let’s start with some sample numbers and see what the crazy world of math tells us….
Help me I’m Rich
Social Security, in the United States, currently refers to the Federal Old-Age, Survivors, and Disability Insurance (OASDI) program. Social Security involves several programs all designed to help Americans in need either in retirement, disability, help with children, etc.  It’s basically an insurance program which is funded through a dedicated payroll tax called Federal Insurance Contributions Act (FICA). It came into existence in 1935 and was a great idea to help Americans in need. However, over the years it has became obvious that funding will run out in the near future. Where am I going with this?…
Mortgage Bailout, Fair or Unfair?
(fixed rate mortgage versus variable rate mortgage)
On December 6th, a new plan was unveiled to help a small percentage of homeowners who purchased their homes with a variable interest rate mortgage. This plan, in theory will help minimize the negative impact of the down housing market and the struggling U.S. economy. It will basically lock in the variable interest rates for a five year period. Is this plan fair to those of us who were intelligent enough to purchase our homes with higher fixed rate mortgage?
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