Statistics Support That We Are a House Poor Nation

USA Today has an article about homeowners who are paying more than 30% and more than 50% of their household income towards their mortgage. Here are the statistics from the Joint Center of Housing Studies at Harvard University.

Homeowners with mortgages spending at least 30% of income on housing:

  • 2000: 27%
  • 2005: 35%
  • 2007: 37%

Homeowners with mortgages spending at least 50% of income on housing:

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  • 2000: 10%
  • 2005: 13%
  • 2007: 14%

Choose the Debt Elimination Method That is Right For You

I am a strong believer that eliminating your debt is the first step to becoming wealthy. Once you are debt free, there is nothing holding you back from saving a higher percentage of your income. Think about how much of your household income goes to credit card payments, car payments, and other miscellaneous debts. I’ll venture to say that it’s at least 20% of your take home pay. Saving an extra 20% of your income over 30 to 40 years will ALWAYS make you a millionaire, even if you make $35K for the rest of your life. There are three popular ways of methodically paying off your debt. I don’t want to tell you which one that I think you should do, because I think it has much to do with what kind of person you are. Here are the three methods for eliminating your debt.

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Dave Ramsey Talks About Socialism and Eminant Domain In America

This is not a political blog, but the issues that Ramsey talks about on this video are definitely political issues. My challenge is for you to research the presidential candidates before you vote in a year. Make sure that you choose a candidate that not only agrees with your foreign policy and selsocial views, but also your financial views. The idea of socialism, at its core, does not work and it only benefits the less hard working individuals in society. The idea of working hard to make something for yourself is why this country’s economy has thrived over the past 200 plus years. That’s not to say that the mentally ill and physically disabled should be left to fend for themselves, but there are plenty of other socialized systems in place that drain the congressional budget every year.

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Do Something For Free On The Holiday Weekend

As you all know, entertainment can be a very rough on your bank account if you aren’t budgeting out money specifically for it. We’ve become a very lazy culture, and we’ll pay quite a bit of money to be entertained. The fact is that you can have a great amount of fun with your family or friends without spending much money. Here are four things you can do that will not kill your wallet:

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Choosing The Right Mutual Funds For Your 401k and 403b

Adjusting to your first “real” job can be a daunting task. First of all, you have to get into the routine of getting up early every day and being ON TIME every day. Then, you have the task of relating to your co-workers and boss. Then, you have the human resources meeting about your benefits package. If your brain isn’t scrambled after all of that information, then you are a much better person than me when it comes to processing information.

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Small Business: Do You Have a Blog?

If you’re currently running a small business or a home-based business, but you are not writing or managing a blog for your business, there is a problem. Blogs are probably the easiest self-publishing tool to create on the internet. If you already have a website for your smalll business, then you’re already paying for a domain name and a web hosting package to house the domain and its content.

How to Set it Up:

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Protect Yourself From Identity Theft – Use Your Debit Card

You’re in line to pay for some gas at the local gas station, and the cashier asks you, “Will this be debit or credit”. You’re saying to yourself, “I’m paying with a Visa debit card, does it really matter?”. The answer is YES. It does really matter what you choose when they ask you for debit or credit. There are two reasons why you need to make sure to choose debit if you are using your debit card to pay for a purchase.

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The Psychology Behind Why People Don’t Like Personal Finance

If you are a frequent reader of this site, then you know that I am a big believer that behavior has much to do with having success with your financial future. My goal is to help you understand personal financial issues along with helping you identify the behavioral problems that hinder you from becoming wealthy. I identified my behavioral problems in college. I had no concept of what it meant to carry a balance on a credit card and I was horrible about saving money and looking for bargains. You can spit out every financial equation and explain how the stock market works, but that won’t make you wealthy. What will make you wealthy is focusing on the psychological aspect of changing the way you handle money. Saving first, demanding a better deal when you buy something, and always preparing a monthly budget are behavioral habits that will help you become wealthy.

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