So at first, you might think attitude has nothing to do with personal finance. Oh, to the contrary! Your attitude is one of the most important factors you have for success in all areas of life. A bad attitude gets you no where, while a good one can propel you far beyond your dreams. Now, maybe you feel you already have a success-mindset, but I think we can always benefit from strengthening and reviving … Read More
Question: Our son and daughter in-law have asked us for a loan. What should we do? Answer: It’s not uncommon, especially in difficult economic times, to have a family member or a friend ask to borrow money. While some people decide against the idea altogether, there may be circumstances where you feel it’s worth the risk. I’m going to give you a few points to keep in mind when trying to decide whether to … Read More
If you’re like most people, you probably dream of having a job that’s enjoyable and fulfilling. The solution maybe closer than you realize if you consider turning something you love to do into a way to pay the bills. You may be thinking, “There’s no way I can make money from my hobby.” But you might be surprised! Just think how great it would be if you could make money from the one thing … Read More
Question: Can I get disability insurance if I’m self-employed, and if so, should I? Answer: Yes, and if you’re self-employed, disability insurance is even more important for you than for the average employee. If you are injured and are unable to work, you don’t have the built-in luxury of paid sick leave to tide you over. This means you need to take a serious look at your financial situation and decide whether you have … Read More
In some cases, bad credit is a result of irresponsible money management. But it often occurs because of unexpected financial hardship. One day you might have all of your bills current, and the next you could become disabled or lose your job. And if you fall behind on your debts, it will wreak havoc on your credit rating. Credit repair agencies claim that they can remove bad entries from your credit report. But did … Read More
Happy Halloween! So tell me… is your money situation giving you a terrible fright? While it’s time to put the candy and costumes away for another season — well, maybe not the candy — have you thought about how you can once and for all put a lid on your financial goblins? Here’s a thought for you: consider how much time you spend preparing for a holiday like Halloween, or Thanksgiving or Christmas or … Read More
Question: Can my mortgage lender require me to have an escrow account? Answer: Generally, your mortgage lender can require you to have an escrow account if you borrow more than 80 percent of the value for the property you financed. The percentage you borrow against the valuation of the property is known as the loan-to-value ratio. Each month, in addition to your mortgage payment, the lender collects a prorated amount to be held in … Read More
I can’t believe it’s been a week since I attended the Financial Blogger Conference and I’m just now writing about it. It was a great chance to connect with people that are passionate about personal finances and are changing the way people get informed about money. It was a wonderful experience and a very easy going group of people. I’ve made a few resolutions as a result of the conference and am looking forward … Read More
Up one day, down the next…is the stock market roller coaster making you nervous? I completely understand. To help you get a better handle on this, check out the post I made today on my Kinkelaar & Associates’ financial planning blog. It highlights the importance in having an investment strategy that you can stick with. Now, I also have to share a personal annoyance with you. One of the comments you hear from financial … Read More
Question: I’m marrying someone with bad credit. How will it impact my credit? Answer: Even if you’ve had spotless credit, you may be turned down for credit cards or loans that you apply for together if your spouse has had serious problems. It’s a good idea to deal with this issue now rather than wait until after you’re married to discuss it. Attitudes toward spending money, along with credit and debt problems, often lead … Read More