June 25, 2016

Budgeting

An important part of managing money is budgeting. Here is a collection of tips and advice on the subject.

Slow and Steady Wins the Race

Slow and Steady Wins the Race

You can learn a lot about financial management from snapping turtles.

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Radio: Budgeting Benefits

moody hills

Having a budget as a boundary for your spending gives you the freedom to work within that boundary, and keeps you on track to save for your goals.

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How to Pay Off Student Loans While Building Wealth

How to Pay Off Student Loans While Building Wealth

While your student loans may be a daunting sum, it is still possible to build wealth even while paying off student debt.

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Family Budgeting

Family Budgeting

If a budget isn’t a team effort, one member of the family will hold the purse strings and everyone else will be resentful.

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Guidelines for Using Margin

Guidelines for Using Margin

Too much leverage is risky because it endangers meeting your goals.

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Streamline Your Finances with Schwab Checking

Streamline Your Finances with Schwab Checking

This Schwab checking account provides six impressive services not true for most local banks.

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Reasons to Keep a Local Bank Account

Reasons to Keep a Local Bank Account

Investment brokers like Schwab offer many services local banks offer but there are a few reasons why you might want to resist consolidating all of your accounts to a broker.

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Millionaire Lifestyle: Drink Sodas at Home, Not Out

Millionaire Lifestyle: Drink Sodas at Home, Not Out

Changing where you drink soda is a small step, but enough small steps can make a huge difference in your savings.

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Radio: Financial Planning for Buying a Home

Hobbit Hole

David John Marotta was interviewed on WINA’s “Real Estate Matters” show with Michael Guthrie, talking about how it is still a good time to buy a house.

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Should I Buy Commercial Real Estate?

Should I Buy Commerical Real Estate?

Here is a simple way to think about commercial property.

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Radio Interview: Financial Gift Giving

Red and Gold Christmas Gift

David John Marotta was interviewed recently on radio 1070 WINA’s Schilling Show discussing financial Christmas gifts.

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Financial Christmas Gift Ideas

Colorful Gift Wrapping

Financial Christmas gifts don’t need to be a piggy bank. They can be more serious and more meaningful than that.

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Safe Withdrawal Rate Adjustments

Safe Withdrawal Rate Adjustments

Assumptions about these adjustments to your net worth should be made carefully and conservatively.

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How to Factor Social Security into Your Safe Withdrawal Rate

How to Factor Social Security into Your Safe Withdrawal Rate

Carefully computing and adding your Social Security early retirement safe withdrawal rate can safely boost your early retirement standard of living without jeopardizing your future finances.

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Mailbag: Can I Use My IRA As Collateral?

Mailbag: Can I Use My IRA As Collateral?

There is a complex way, but we don’t recommend the strategy.

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When Should You Stop Funding Your HSA?

When Should You Stop Funding Your HSA?

You’ve opened your HSA and funded it for several years. When should you stop funding it?

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How to Avoid a Down Payment on a Mortgage

How to Avoid a Down Payment on a Mortgage

If you prefer to keep your down payment money invested in the markets for longer, there are two alternatives.

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Financial Advisors’ New Patron Saint Just Cut From the Detroit Lions

Financial Advisors’ New Patron Saint Plays For the Detroit Lions

When Ryan Broyles scored a $3.6 million dollar contract after being drafted in the first round he did something quite rare – he sought as much advice as he could find.

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How to Convert Taxable Savings Into Your Roth IRA

How to Convert Taxable Savings Into Your Roth IRA

Most tax professionals don’t think of such tax planning opportunities, because they have to focus on complying with tax accounting regulations.

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Fund Your Roth IRA Even When You Can’t Afford It

Fund Your Roth IRA Even When You Can't Afford It

Sometimes, there isn’t enough to do it all. Even then, fund your Roth.

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How to Save for Large Fast-Approaching Expenses

How to Save for Large Fast-Approaching Expenses

The average married couple has dreams of multiple children, annual vacations, and homeownership, but planning for these expenses can be challenging.

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How to Get Out of Debt: Summary

Oasis in the Desert

This is a visual summary of the process of getting out of debt.

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How Quickly Should I Pay My Student Loans?

How Quickly Should I Pay My Student Loans?

For those who do not want to be investors, a fast-track repayment may be best. But for those willing to save and invest, there is a better option.

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How to Get Out of Debt: Rebuild

Bright Desert Mountains

You have laid a good foundation: you are out of debt (or out of bad debt) and you’re ready for a clean start. Commit to keeping your financial life that way.

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The Complete Guide to Automating Your Savings

The Complete Guide to Automating Your Savings

After automating your entire investment plan, you can save and invest without even having to watch.

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How to Get Out of Debt: Monitor and Adjust

Driftwood on the Beach

Real life rarely goes according to plan. Set aside time periodically to assess your progress.

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How to Get Out of Debt: Implement Your Plan

Group Trekking Through Sand

Now that you know where you are headed and the steps you want to take to get out of debt, it is time to take action!

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How to Get Out of Debt: Make a Plan

Chairs in the Desert

To get out of debt, you need an emergency cushion, a budget, and a plan of attack.

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How to Get Out of Debt: Assess Your Situation

Desert Stormclouds

Make a list of all your debt and figure out where your money is going every month.

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How to Get Out of Debt: Recognize the Problem

Sun Blasts Dunes

Most people are comfortable with having some debt (like a mortgage, for example). But how much is too much?

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Free eBooks for Lovers of Classic Literature

Free eBooks for Lovers of Classic Literature

If you’re not wedded to the idea of owning a hard copy, there are many options to find classics for free as ebooks.

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Best Credit Card for 2015

Best Credit Card for 2015

We are not normally fans of credit card offerings, but this one might be worth using as your primary card.

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How Do I Structure My Accounts for Automatic Savings?

Inside Umbrella

Often the needs and wants of the present take our attention at the expense of the future. You want a system that will prioritize saving without needing your constant attention.

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Three Reasons To Engage In Gift Giving

Gift Giving

The new holiday cliché is to complain about hyper-materialism, but gifts and gift giving help shape our identities.

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Understanding Cash Flow Is Critical

Understanding Cash Flow Is Critical

Regardless of income level, overspending causes poverty.

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Stop Borrowing From Yourself

Stop Borrowing From Yourself

Stop borrowing from your future self. Each day you fail to save is another day where you tighten the ball and chain around your ankle. You deserve better than that.

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The Economics of a Thanksgiving Turkey

The Economics of a Thanksgiving Turkey

The average factory-farmed frozen turkey from a grocery story is sold for as little as $0.67 per pound. Economics can offer five explanations.

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Five Principles Of Spending

Principles of Spending

How to judge if your money was well spent.

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Should You Ditch Your Budget?

Ditch the Budget?

Could this scheme from Mr. Money Mustache change your budgeting strategy?

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Helpful Mobile Budgeting Tool Free For College Students

you need a budget

The good people at You Need A Budget (YNAB) have made their budgeting solution free for college students; including part-time students.

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Budgeting Lite

mindful money

With less than two minutes a day and a smartphone, Budgeting Lite will help you become more mindful about your spending and regain a sense of control over your finances.

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If It’s TEOTWAWKI, Should I Have Paid Off My Mortgage?

It's the end of the world as we know it.

Why would you want to use valuable dollars today when you can use cheaper dollars over the next three decades?

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Should I Get Out Of Debt Before Civilization Collapses?

Lion vs. Zebra

This is much better advice if civilization is continuing than if it is collapsing.

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Housing Market Picking Up and Interest Rates Rising

Charlottesville Real Estate

I expect we have seen the bottom of both the housing market and 30-year fixed interest rates.

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Money Management Lessons From a Relay Race

winning team

Money meditations from the finish line.

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Using A Mortgage Wisely

Monopoly House on Coin

Most Americans have a home mortgage. The rich often have two.

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Get Out Of Debt

Slack Palm

Getting out of debt is the first step to building real wealth.

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Should you pay off your mortgage? (August 2013)

Monopoly House on Coin

This should not produce a hand-wringing vacillation between the two answers.

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The Only Right Answer To “Debit or Credit?”

Debit or Credit?

“Debit or Credit?” is a trick question. There is only one right answer and it’s not the one that benefits the store whose asking.

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Thou Shalt Not Covet Thy Neighbor’s Tesla

tesla_t

Since it is inevitable that each group of friends will represent a spectrum of financial capacity, healthy relationships require that all be prepared to manage these pressures.

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