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Negotiating better rates on regular expenses can save hundreds of dollars annually - it's worth the effort to make a few phone calls. Contact providers for insurance…Continue Reading
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Mortgage Principal & Interest: Do You Know How They Work?
There are two basic components that make up every mortgage payment - principal and interest. However, many homebuyers are unaware of the differences in both terms, and sometimes use them interchangeably.
Understanding how both principal and interest work - and how they affect your homebuying decisions - will help you choose the best mortgage option for you.
In this article, we’ll share everything you need to know about principal and interest.
We’ll cover the differences between the two and help you determine what you owe, or will pay, on your mortgage.
What is Mortgage Principal?
The initial loan amount you took out to purchase your house is known as the mortgage principal.
It isn't the price you bought for your house or the sum…Read More
Preventing Bankruptcy: 3 Common Causes & 3 Ways You Can Avoid it
There are key measures that everyone should use to prevent bankruptcy.
Fortunately, there is a lot of information available regarding the causes of bankruptcy. Like many financial problems, prevention is better than a cure. Knowing how to steer clear of bankruptcy is the best medicine.
Of course, if you’re already seriously considering bankruptcy, there are more reactive measures you’ll need to take. In most cases, there are still a few things you can do to avoid a declaration of bankruptcy.
In this article, we will cover all of these topics on how to prevent bankruptcy.
What are the three 3 most common causes of bankruptcy?
The American Bankruptcy Institute (ABI) identifies three main causes of personal bankruptcy in the US:
Loss of…Read More
Today’s Affirmation
I track my net worth monthly to see my progress.
My morning routine includes financial planning.
I buy used items when they meet my needs…Continue Reading