When considering the idea of mortgage paydown, first thing's first. Any super high-interest debts (like credit card balances) should be paid off first. For all other debts, I'm a fan of using the cash flow index method to prioritize debt repayment. You may find the mortgage falls low on the list since typically, those high payments are spread over a long, 30 year period. Once … [Read more...] about How to Pay-off Your Mortgage in 5 Years (or Less!)
Personal Finance 101
Learn how to make the best decisions when it comes to your hard-earned money. When you make smart money decisions, you tee yourself up for goals including early retirement. Learn how to invest, how to avoid keeping up with the Joneses, and how to raise kids without breaking the bank!
This is a post that asks and attempts to answer the question, "How much of your income should you save every month?" For many, savings rates simply aren't a priority. While examining my handy dashboard excel budget last week, I focused my attention on our savings rate. Hard to believe, but we had somehow achieved a savings rate of 83%. That's 83% of our take-home pay … [Read more...] about How Much of Your Income Should You Save Every Month?
One of the fastest ways to consume time and money is to be a fan of big-money sports. Especially this time of year, when American football is in full swing, sports fandom is off the charts. Let's explore how being a sports fan affects your life. Frankly, it's getting way out of control, my friends. I once enjoyed watching college football, and even some NFL, even though so … [Read more...] about How Being a Sports Fan Affects Your Life
Let's just get it out there from the get-go: This is NOT a bragging kind of post. Far from it. This past year we spent a lot of money concerning our 2018 household spending. We didn't go off the deep end and buy matching jet skis or take five trips to the Bahamas. But if we're to be mistaken for knowing two sh*ts about money, our spending this past year sure doesn't help the … [Read more...] about 2018 Household Spending Revealed
This year marks another increase in the contribution limit to the sometimes controversial, but "everyone's gotta have one" 401k. In 2017, the pre-tax contribution ceiling was raised from $18,000 to $18,500. That figure gets bumped again to $19,000 on January 1st, 2019. When you're fighting to make a living at the outset of your career, it's vital to know what percentage of your … [Read more...] about How Much Should I Contribute to My 401k?