We’re relocating from Arizona to New York because my husband found a good job there. While we’re happy to move, we’re sad to leave behind our house payment in Arizona. We had a 3.375 percent interest rate and a smaller mortgage than we’ll have when we move. In New York, our interest rate will be approximately 5.5 percent, and our mortgage will increase by 1/3. Ouch. However, … [Read more...] about Why We’re Not Paying Extra on Our New Mortgage
Debt
How We’re Preparing Our Budget for a Recession
Recently, you’ve likely heard many pundits express concern that we may be heading into a recession. As the Fed increases interest rates to attempt to stop high inflation, many people worry that the housing market slow down will help tip us into darker economic times. While my husband and I live frugally, we’re preparing our budget for a recession by making some financial … [Read more...] about How We’re Preparing Our Budget for a Recession
How to Set Money Boundaries in Relationships
Donna’s grown daughter, Felicia, asked her mother for money to start a new business venture. Donna didn’t feel comfortable with the business, but she wanted to help her daughter. Plus, she knew if she said no, Felicia would threaten Donna by withholding Donna’s access to her grandchildren. Donna pulled the money from her retirement account. Four years later, Felicia’s business, … [Read more...] about How to Set Money Boundaries in Relationships
3 Ways to Help a Financially Struggling Spouse
When I lived in Chicago, our landlords had been married for over 20 years. He was used to being the breadwinner. She worked part-time at a low-income job and helped to manage their three rental properties. During the economic downturn in 2007, he lost his job. At first, he optimistically applied for other positions, but as the months dragged on, he went into a deep depression … [Read more...] about 3 Ways to Help a Financially Struggling Spouse
6 Things I Would Tell My Younger Self
Sometimes life doesn’t seem fair. We acquire knowledge throughout our lifetime, but we can’t go back and improve on our younger selves. However, by reflecting on mistakes made in the past, we can stay on course in the present. … [Read more...] about 6 Things I Would Tell My Younger Self
How to Improve Financial Communication for Couples
Money arguments occur in many marriages, but they don’t have to. When you learn how to improve financial communication for couples, you will find that you have less to argue about because you understand one another. Once you’re on the same financial page, you can work together to achieve your goals, which sounds better than rehashing the same tired financial arguments month … [Read more...] about How to Improve Financial Communication for Couples
Why I Dined Out Constantly and How I Stopped
Years ago, when I worked full-time and my husband was a graduate student, we dined out several times a week in the evenings. In addition, I would go out to lunch with co-workers at least twice a week, and I would buy food at the college cafeteria the other days. (The food wasn’t that good!). I didn’t realize until a few years after I had stopped dining out why I wanted to go … [Read more...] about Why I Dined Out Constantly and How I Stopped
6 Signs You’re with a Financially Compatible Spouse
The more compatible you and your spouse are, the smoother your relationship. When you live with or are married to someone who shares your values, you can more easily work together to reach your goals rather than fighting because you have different views and values. This is especially true if you’re with a financially compatible spouse. Not fighting about money but instead … [Read more...] about 6 Signs You’re with a Financially Compatible Spouse
6 Things to Know Before Couples Combine Finances
One of the most intimidating tasks for many newly married couples is to combine finances. When you do so, you may feel vulnerable. After all, you’ve been handling your money independently for years; now you are going to trust another person to be as responsible as you’ve been all these years. However, if you can overcome your fear and share finances, your relationship can be … [Read more...] about 6 Things to Know Before Couples Combine Finances
4 Financial Books You Should Read in Your 20s
Have you graduated from college and have student loan debt? Are you trying to become financially secure so you can afford to travel the world? No matter what your goals are, you may benefit from these 4 financial books you should read in your 20s. If you can get out of debt in your 20s and start saving and investing, you’ll be looking at a bright, enjoyable financial future. … [Read more...] about 4 Financial Books You Should Read in Your 20s
