If you want to know how to live your best financial life, you’ve come to the right place! Here, you’ll find everything from information on insurance, investments, and owning rental property to advice on savings and retirement.
Whether you are downsizing or just want new furniture, selling your existing furniture and accessories on consignment can be a good way to get rid of them and make some money at the same time. Some people enjoy the thrill of consignment selling so much that they turn it into a side business. Here’s how… Read more »
The COVID-19 pandemic shut down most of the American economy, triggering massive job layoffs, furloughs and pay cuts. In March 2020, the federal government passed the Coronavirus Aid Relief and Economic Security (CARES) Act to provide financial assistance across many areas of American life. CARES grants COVID-19 retirement savings relief by relaxing some of the… Read more »
Most homeowners sell their houses to traditional buyers who plan to make the property their home. But investors also buy homes, and sometimes it may be advantageous to sell to one. What are the pros and cons of selling your home as investment property? Advantages to selling to an investor You may have purchased your… Read more »
For many Americans, owning investment real estate is a steady path to financial security. Renting out your investment property means positive cash flow, and you can use those rental payments to build your equity in the home. But along with these benefits comes responsibility for reporting income and expenses to the Internal Revenue Service. Let’s… Read more »
Barns are no longer just spaces for livestock and farm equipment. Today, living in converted barns or brand-new, barn-like homes has become popular. Here’s what you need to know about the growing trend of barndominium living. The rise of the barn living It’s been common for people to convert barns into temporary places to live… Read more »
The loan processor you work with when you apply for a mortgage isn’t the person who decides whether you qualify for a loan. That power lies with the mortgage underwriter. How do underwriters decide whether applicants will get a loan? The mortgage underwriter’s job The underwriter’s job is not to make you dance like a… Read more »
The mortgage approval process can be stressful for anyone, but self-employed people encounter an extra measure of scrutiny. You may have succeeded in pursuing the American dream of owning a business only to find that financing a home is more difficult than if you worked for someone else. Here’s our guide to mortgages for the… Read more »
Most consumers know about identity theft and have adopted safe practices for dealing with their personal information. But did you know thieves can steal the title to your property? Property title theft could happen right under your nose, so stay alert with these tips. What is title theft? Title theft is relatively rare, but when… Read more »
The Coronavirus Aid Relief and Economic Security Act (CARES), passed in March 2020, provides multifaceted financial relief to Americans during the pandemic. A section of the law provides COVID-19 student loan assistance to those who’ve borrowed for higher education. Here’s our guide to that section’s provisions. Cash grants The CARES Act created a $14 billion… Read more »
Most individual retirement accounts (IRAs) invest in traditional securities: stocks, bonds and mutual funds. If you are looking to diversify your investments, however, you may be interested in a lesser-known retirement account known as a self-directed IRA. This account allows you to hold investments other IRAs don’t, such as real estate. Here’s how investing in… Read more »
Many people have built financial security by investing in real estate, but finding start-up capital can be challenging. House hacking might be the shortest, simplest path to beginning successful real estate investment. What is house hacking? How can it help you? When house hacking is a good thing House hacking is a new term for… Read more »
The world is overflowing with plastic waste on land and in our water sources. What can you do in your household to help alleviate this problem? Here are some simple steps you can take immediately to reduce plastic use at home. Reduce plastic use at the grocery store Grocery shopping accounts for much of the… Read more »
The COVID-19 pandemic has provided cybercriminals a new way to scam people. Phishing e-mails that target those fearful of the coronavirus are appearing in consumer in-boxes worldwide, as are appeals from phony charities preying on people’s good intentions. Here’s what you need to know about coronavirus cyber scams. Types of coronavirus cyber scams Scammers send… Read more »
If you’ve wanted to buy real estate as an investment, you might consider buying a house at a foreclosed property auction. You can get a great value, but the process can be risky and you need to be well prepared. Here’s what you should know. Why property is sold at auction Homes are generally sold… Read more »
Most consumers realize they need to watch out for shopping scams. Yet bad actors continually find new and more clever ways to rip people off. When shopping for items online, avoid getting fleeced with these preventative steps. Trying to earn your trust Scammers work hard to get you to trust that their email or text… Read more »
Balancing your household food budget can be challenging even before you add the additional cost of pet food. How can you frugally feed your four-legged family members? Here are some tips for saving money on your pet’s meals. Savings metrics Start by consulting with your veterinarian about what and how much your pet needs to… Read more »
Urban loft living is a stylish way to take repurposing to a whole new level. But this trendy lifestyle has some drawbacks to overcome. Read on to find out whether loft living is right for you. The launch of loft living Over the last several decades, the United States’ economy has shifted away from manufacturing… Read more »
Most mortgage loans are made to people who are still earning income from a job. It can be tough for retired people living on retirement savings to get approved for a mortgage. An asset-based mortgage (ABM) could be a good way to finance homeownership later in life. Mortgage qualification challenges for retirees Mortgage companies that… Read more »
Whether you are self-employed, a freelancer or have a variable income stream, you’ll face special challenges getting a typical mortgage and may need to apply for a bank statement loan. What is a bank statement loan, and how do these loans work? What is a bank statement loan? A bank statement loan is a product… Read more »
The COVID-19 pandemic has caused millions of Americans to lose their jobs. Fortunately, some companies are offering emergency financial relief to consumers. Let’s look at COVID-19 financial relief programs by industry and learn how you can get help. Organize for a clear picture Before contacting any vendors with whom you have accounts, make a list… Read more »
