When Should You Sell Your Home To Improve Your Financial Situation?
August 24, 2009 by Erik Folgate
Filed under Credit and Debt, Real Estate, Spending and Saving
Owning a home can be a great blessing, but it can also be a great burden. There are many advantages to owning a home like building equity, the freedom to customize it, and various tax advantages. But, homes are not cheap and they come laden with expenses. You have homeowner’s insurance, property taxes, home maintenance, home improvements, and the list goes on. Some people buy homes at the wrong time in their life or they buy too much house than they could afford. When this happens, homes can be a real burden and so much that selling it may be the only option to getting ahead with your finances. Here are three signs to help you know when the house is the root of your financial problems.
Out of Control Spending On Gifts and Holidays
August 20, 2009 by Erik Folgate
Filed under Giving, Spending and Saving
I love to give. One of my favorite ways to show appreciation, affection, or just simply make someone happy is to give them a gift. I honestly don’t do it, because I am obsessed with materialism. I just know that receiving an unexpected, thoughtful gift brings can really brighten up someone’s life. The keyword in that sentence is “thoughtful”. Just as much as I enjoy giving gifts, I hate giving gifts just for the sake of giving something. I like putting thought into gifts, and I am not a big fan of receiving a gift with no thought put into it. Before you jump on me, let me explain myself.
Why Rich People Go Broke
August 19, 2009 by Erik Folgate
Filed under Insurance, Investing, Spending and Saving
I was reading Sports Illustrated, and I came across this statistic:
78% of former NFL players go bankrupt or are under major money stress due to joblessness within 2 years after retirement. 60% of NBA players are broke within 5 years after retirement.
Does that surprise you? It didn’t surprise me that a lot professional athletes end up squandering their wealth after they retire, but this number really caught my attention. How can it be that almost 4 out of 5 NFL players bo bankrupt? I think there are several reasons for this:
How To Save Money On Dorm Furniture For A College Freshman
August 17, 2009 by Erik Folgate
Filed under College, Spending and Saving
Universities across the country will be filling up their dorms and surrounding apartment complexes from now until the next three weeks. I remember my first experience going away to school. I didn’t have much, because my dorm was about the size of a medium sized bedroom, and I shared it with one other guy. I brought a computer, bedding, clothes, and a chair. We already had a bed and desk provided to us. However, many large universities don’t have enough dorms to house all of their college freshman, so some freshman need to look for alternative off-campus housing. For these freshman, the cost to go away to school rises even further, because now you need to furnish an entire apartment. If your buying furniture for your kid, make sure you don’t go overboard buying furniture that is too nice for the space it will be in. When you’re looking for dorm/apartment furniture, look for utility. Here are a few places to start looking to find quality furniture at cheap prices.
5 Ways To Save Money On Back-To-School Supplies
August 14, 2009 by Erik Folgate
Filed under Kids and Money, Spending and Saving
It’s that time of year that parents dread, especially those with more than one school-bound children. The average family will spend about $600 on back-to-school supplies and other items needed to send their children back. Doesn’t that sound a little high? That’s a significant hit for families living from paycheck to paycheck. Now throw in the faltering economy and high unemployment, and you have a bad situation! I have always been an advocate of making a bad situation into a good one, and one way to make this time better is by finding ways to save money on yur back-to-school supplies.
How I Saved $450 On A Piece of Furniture
August 12, 2009 by Erik Folgate
Filed under Frugality, Spending and Saving
Background Info
My wife and I went looking for entertainment centers on Sunday afternoon. We stopped by one of our favorite places to find really cheap, decent furnture: the Rooms-To-Go outlet. We bought our bedroom set brand new at the outlet two years ago for $1,200, which included a king head/foot board, dresser, and two night stands! So, we scoured the outlet, but nothing fully caught our eye. We saw one TV stand that we liked, but we wanted a two-piece set. We went to the showcase room down the street and saw two sets that we really liked. The first set was smaller, but had a different style to it. We saw that one at the outlet, but it wasn’t in great condition, and it wasn’t much of a discount either. The second set was big, had a nice top hutch piece with shelving and crown molding, and we liked that it would fill up most of the space that we would be putting it in.
Should You Pay For Your Child To Go To College?
July 29, 2009 by Erik Folgate
Filed under College, Investing, Spending and Saving
Answering the questions of “should I pay for my child to go to college?” is a daunting task, but it should always be dictated by your personal and financial situation. Did you set up a college savings fund for your child when they were a baby? Did you not save a dime for your child’s education? Are the grandparents going to help with paying for college? The answer to these questions will help determine where your child should be attending college and if you’ll be paying for it. The decision brings with it a lot of emotions on your part and the part of the child. Your child will have their mind made up about where they want to go, but if you’re paying for it, you have the final say. Here are a few things to consider.
Save Money On Your Summer Rental Car
July 22, 2009 by Erik Folgate
Filed under Spending and Saving, Travel
Gas prices are cheap, and more travelers are renting cars this summer. Rental car companies are in a price war, and you can find a mid-size car in some areas of the country for less than $20 per day. But, if you don’t do your research, you could get burned when it comes to renting a car. Here are a few tips to help you save money on a rental car.
Personal Finance Blogger Spotlight
July 17, 2009 by Erik Folgate
Filed under Spending and Saving
Today, I will highlight three personal finance bloggers that I really enjoy. I certainly don’t read their blogs every day, but I always get to them once a week, and I love interacting with these people on Facebook and Twitter. So, here is a small profile of the bloggers behind the blog:
Mrs. Micah – Finance For A Freelance Life
The Way2Save Savings Plan By Wachovia
July 17, 2009 by Erik Folgate
Filed under Banking, Investing, Spending and Saving
I was talking with a friend the other day about the Way2Save Wachovia savings plan, and he has had a great experience with it so far. He and his wife were able to save almost $2,000 in less than a year without consciously making an effort to save on a consistent basis. Bank of America had a “Keep the Change” savings program that is similar to this, and I am sure other banks have similar plans, but after reading about Wachovia’s program, I think it’s one of the better automatic savings plans for people that have a hard time saving money. Here’s how it works:
