Interest rates are low, and if you have enough equity to sell your property at break-even or for a profit, the homebuyer’s credit may be enticing you put your house up for sale. House market predictions show that home prices are rebounding in certain areas, and so the bottom of the housing market may be close, if not already over. If you are looking to upgrade, you will want to buy when prices are low and rates are high, but also when you have enough equity to jump to a new place. Before you do, realize that there are some restrictions and conditions you have to meet to take advantage of the homebuyer’s credit. For one, you or your spouse will have had to have lived in your existing home, as a primary residence, for five out of the last eight years. There are income limitations and some other restrictions, but for the most part, the average homeowner stands a good chance of qualifying for this one-of-a-kind offer that is unlikely to repeat itself within their lifetime. (more…)

Even with the stomach-churning twists and turns of 2008 and 2009, most people who continued contributing have recovered their original portfolio value. However, the stock market drop has made it obvious that as a vehicle for retirement, certain safeguards need to be put in place. For one, it’s important to understand your 401K investment strategy based on your age. Two, a 401K should not be the only way to invest your funds for retirement. Finally, 401Ks need to be managed by someone who understands the market, as the risks increase with a laissez-faire attitude. (more…)

With the economic boom of the 80’s and 90’s, many membership cards cut their cost of membership to zero. You could get a credit card without an annual fee pretty easily. You could even obtain a free payday loan without much fuss. You could get a shopper’s card for free, too. Even though warehouse clubs continued to charged a membership fee, they were minimal. No one would have considered paying an upfront membership fee a good deal. Times have changed, and with it comes the reappearance of the annual membership fee. Along with it, though, is the possibility of obtaining higher value from your membership cards than you would without the fee attached. (more…)

Next to housing, transportation is one of the highest expenses in our monthly budget. The cost of buying a new car can range from $20,000 to $50,000. The cost to insure that car can cost hundreds of dollars a month. Gas prices are over $2 a gallon, and can easily top $4 per gallon during the summer time, adding hundreds more per month to our expense column. Then, if the car has a mechanical problem, you can easily spend thousands to get something fixed. Yet, if you were to ask the average person if the cost of owning a car is worth it, the resounding answer would be “yes.” Cars are necessary to get back and forth to our jobs, and they represent a freedom of mobility and living that most Americans value. Instead of ditching the car, here are some ways to lessen the price of owning one. (more…)

If there is one blessing in this awful economy it’s that everything is negotiable. Don’t expect that just because something is advertised at a certain price that a seller won’t take less or be willing to throw in some perk to get you to buy. Buyers, with ready cash, are few and far between, even though the picture is definitely getting better. For now, you still have the option to snag some great deals, if you learn the art of bargaining. This applies to areas like housing, maintenance, and even debt management. (more…)

Credit card debt is something that many millions of consumers face on a daily basis. As the economy starts to recover, we often find ourselves in more debt due to economic hardships that had become unavoidable. We must now find a way to get out of debt and restore our financial independence. The real question is, can we afford to pay these minimum payments monthly and how will we ever get out of debt that way?

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As paychecks wither in this economy, it may comes as a surprise that the simple act of eating out can cost you $2000 a year. Unfortunately, people who work outside the home have to factor in the occasional coffee, and the daily lunch costs, and many times that can significantly impact their budget, too, especially if they’re only working part time jobs. Add to that birthdays, holidays, and just the urge to eat out every now and then, and the costs of eating out quickly take a huge chunk out of what’s left of your disposable income. If you’re looking for somewhere to save big this year, consider some of these strategies to rein in those dollar munchies. (more…)

The importance of budgeting cannot be stressed enough. In these times, it is very difficult to save for the future or for things we want to buy. In many cases, these things must remain in the store and instead, we must use discipline to put that money away to avoid having to use payday loans too often. Using credit cards is also a bad idea as the payments can sometimes be too much to deal with when money is tight.
If we budget in our daily lives, it is much easier to see how much we can and cannot afford. Even if budgeting is something we have never done before, we must try our best to estimate our daily expenditures as well as our income. (more…)

The average house price in 2009 has depreciated in most areas around the country, which is good news for buyers. Add to that incentives like the 8,000 home buyers credit for new home buyers and even existing homeowners, and everyone has something to cheer about in the housing market. With low mortgage interest rates available, if you’ve been sitting on the sidelines waiting for the market to bottom, now’s the time to jump right back in, but first you have to qualify. (more…)

Are you tired of hearing about how important financial planning is? Do you avoid this because you don’t know anything about your situation, or what to do with your money? Not everybody is a natural when it comes to financial planning. That being said, you don’t have to be a professional or somebody who has a lot of knowledge to start planning for your future.

Here are three financial planning 101 tips that will help you get started: (more…)