Why Laddering Your Life Insurance Policy Over Time Makes Good Financial Sense

  Editor's note: Hey, this is PT. You know I'm a huge fan of term life insurance for those young and married with kids like me. These days it's easier than ever to get signed up for life insurance and protect your family. Do it! Of course, I'm also a fan of self-insuring as much as possible and we're happily heading that direction - getting rid of debt and saving up for our retirement. But I've often thought about changing my life insurance strategy … [Read more...]

What is Private Mortgage Insurance and How Can You Avoid It?

Editor's note: Here's an excellent contribution on the subject of PMI from my friend Ben Feldman. I recently reached that time in life where I’m starting to think about buying a home. I’m ready to settle down, and I like the idea of owning my own place. As I’ve begun to do my research, I’ve also realized how overwhelming the whole process can feel. There are a lot of things to consider when buying a home -- from which neighborhood you want to live in, to how big … [Read more...]

The Mythical Benefits of Buying a Home and the Case for Renting

The real estate market is changing. After years of record-low rates for mortgages, the interest market is beginning to heat up. Homebuyers are suddenly second-guessing their decision to buy. NPR recently reported that many prospective buyers were quoted "3.5 percent" only weeks ago. Now, they're facing 5.2 percent. Homebuyers seeking low mortgage rates have long benefited from extended quantitative easing (QE) from the Federal Reserve. By keeping interest … [Read more...]

Getting Thrifty with Shopping

Visit the thrift store for furniture...and clothes! Thrift store shopping can be an adventure, a thrifty adventure of savings and endless sifting through the racks until you find that vintage gem. It’s certainly an exciting way to shop for clothes that are new to you. More people are turning to thrift stores as a regular place to shop for clothes. Editor's note: I know Mrs. PT just scored some nice Express jeans for just $15 at a thrift store. Another … [Read more...]

5 Money Moves to Make [Immediately] After You Get a New Job

You've landed a plum new job with a higher salary. That's great! However, before the riches start rolling in, it's vital that you consider what your next money move will be. After all, just earning more money doesn't immediately erase any problems you've been having with money. Additionally, rushing out and spending it all won't help you prepare for the future. Did you know... "The average person born in the latter years of the baby boom (1957-1964) held … [Read more...]

7 Tips to Travel More Often, Cheaper and in STYLE

PT in Sydney. I work hard for my money. Don’t you? But between paying the bills and hopefully putting some away for the future, there often isn’t much left over for the extras, like traveling. Getting away and seeing the world happens to be one of my passions, but up until a couple of years ago, my vacations were more like stay-cations. Even though I live in a great city, we all know stay-cations are no VA-cations. So, what changed two years ago? Well, … [Read more...]

Lessons Learned in Year 1 of Financial Independence

This year, I took a big step in my life – I moved out from my parent’s house and became financially independent. At a mere nineteen years old, I’m out living on my own, paying bills, and learning things the hard way. Even in just the first few months of being on my own, I’ve learned a lot about the do’s and don’ts of finances. Many things I’ve learned can even apply to those who have been financially independent for years. Here are some of the valuable lessons … [Read more...]

Creating an Action Plan for the Future of Children with Special Needs

Have you prepared for the future of your special needs child? This article is from Lauren Rosenberg. People living with disabilities are often capable of making their own decisions, and are contributing members of the workforce, and society at large. Unfortunately, some people with disabilities cannot live independently or make their own decisions. Parents of individuals falling into this category need to protect them when they reach the legal age of … [Read more...]

6 Online Resources Every Freelancer Should Use

If you asked some of our older parents if they ever did freelance work on the side, many of them would tell you that it wasn't even a thought in their mind. Next, ask them if they ever worked as an independent contractor for a company. They'll probably have an even more confused look on their faces. The traditional work environment is quickly changing due to the rapid advancement in technology. Throw in the sluggish economy and the always-increasing cost of living, and … [Read more...]

7 Ways to Ensure You Never Pay Full Price For Anything Again

Many of us (even those who otherwise enjoy shopping) frequently leave the store feeling like they paid too much for their purchases. Whether it's airline tickets, health insurance or major appliances, we are seldom happy to have paid full price for anything. Fortunately, with some smart changes to your buying habits, the feeling of being ripped off can become a thing of the past. Below are seven time-tested ways to ensure that you never pay full price for any of your … [Read more...]

The Home Loan Process Explained

Buying a home is one of the biggest purchases you'll make in your life. Since most of us can't pay this out of pocket, you have to go get a loan from either a bank or mortgage lender. This can be a very long and demanding process and normally leaves many people unhappy because they are either caught off guard or did not spend enough of their own time trying to figure things out. Pre-Qualification Approval You first need to get a pre-qualification approval from a … [Read more...]

Cheap Meals: Dine for Less but Keep the Great Taste and Healthy Foods

Cheap Meals Equals Cheap Health? The first place people start to cut a budget is often on foods. If you think saving money by forgoing healthy foods for ramen noodles is your only option, it is not. It is critical to understand, your health can be affected by a poor diet, and poor health can mean illness. Once sick, you can lose more money than you saved, with doctor visits and lost wages from having to be off work. The bottom line is that being cheap can be bad for … [Read more...]