5 Reasons to Refinance Your Mortgage Now

The perfect combination of rising home values and low interest rates is here. Conditions are ripe for refinancing a mortgage. Rates now average close to 3.5 percent nationwide. A household can cut its mortgage payment $60 per month, per $100,000 in loan balance, with just a one percent reduction in interest rate. Thirty-year mortgage rates have fallen by more than 50 basis points (0.50%) since the … [Read more...]

4 Reasons Millionaires Are Not The Scum of the Earth

Here is society’s view on the rich and the poor:Rich people are greedy, underhanded sleazeballs and share their money with no onePoor people don’t have the opportunity to get ahead and are stuck in poverty foreverIt’s up to the government to redistribute the wealth and make everything fair again…My face is getting red just writing out those statements. Each one of them just … [Read more...]

Work-Life Balance: How to Have a Better Life as Your Own Boss

As freelancers we aim to have a better life while doing meaningful work. For many of us that means being our own bosses! The thing is though, that we also want to be attentive friends and parents, and provide for our families. And trying to do all of these things at once can seem impossible. According to a Pew Center Research analysis, over 40% of American households with children under the age of … [Read more...]

Watch Out for Interest-Only Home Loans

Now that the economy has picked up some, the housing market is recovering a little, and memories of the financial crisis are fading, some lenders are re-introducing a few “creative” financing methods. It’s possible to get an interest-only mortgage again, or get a loan with a low, low rate at the beginning. An interest-only loan is tempting because the borrower only pays the … [Read more...]

Why I’d Rather Pay $10,000 to Unload My House Than Become a Landlord

There are people out there who are made to be landlords. They like the idea of having someone else pay the mortgage on a home or apartment building and enjoying the ability to build equity on the property without using their own money. Once the property is paid off, the monthly rent is income (offset by the cost of taxes, insurance, and keeping the property up). I totally get why some people love … [Read more...]

What Do You Do With Your Savings?

One of the basic pieces of advice that we are often given about money is to save more. But where do you put that money? And what should you do with it? Create Goals for Your Savings While saving money just to save money does make sense in some ways, the reality is that few of us are willing to keep doing something “just because.” As a result, it makes sense to carefully consider your … [Read more...]

Who Do You Trust For Money Advice?

For many of us, it’s difficult to know what to do when it comes to our finances. There are so many decisions to make. While the basic “live within your means” advice can apply, the reality is that there is more to money management than making sure that your expenses are smaller than your income. What do you do to save for retirement? What’s the best course of action when … [Read more...]

3 Signs You Need Help with Your Debt

One of the most difficult issues to overcome is debt. If you have a lot of debt, it can be difficult to move forward with your finances. The interest payments suck away your disposable income, and once you are stuck in the cycle, it can take serious effort to get out. In some cases, you might even need help dealing with your debt. You can get help from a legitimate counselor with the National … [Read more...]

How To Avoid Falling Into A Bad Credit Score

Building good credit is a years-long process, while destroying credit only takes a few bad decisions. With this in mind, it’s important for new credit users to avoid the many mistakes which lead to bad credit scores. Too often it seems inexperienced credit cardholders underestimate the ease through which bad credit can be acquired. For these folks – the young ones especially – we … [Read more...]

Ways To Pay For College Without Breaking The Bank

Going to college can be stressful in so many ways. If you are just getting out of high school, you are being pushed into the real world on your own. Your responsibilities just increased ten-fold. You now have to get yourself to class everyday, do your homework, study for tests, and maybe even work. As if that is not enough, you also have to worry about how you are going to pay for college. If you … [Read more...]

How To Recover After Bankruptcy

For the most part, bankruptcy should be the action of last resort when it comes to your money issues. However, there are times when bankruptcy really is the last option you have left. If you have experienced a long-term employment problem, or if you have had a medical problem that causes you financial distress, bankruptcy might be your last option. Once you have filed for bankruptcy, however, it … [Read more...]

Is A Zero Based Budget Right For You?

One of the budgeting techniques that has gained some popularity in recent years is the zero based budget. In this budget, you make sure that every dollar is accounted for at the beginning of the month. You look at what you expect to get in terms of a paycheck, and then use every penny to pay bills, or accomplish your goals. As part of your budget, you decide what will go to debt reduction, or to … [Read more...]

Should You Sell Unwanted Gifts?

Note: This is a post from Joan Otto, Man Vs. Debt community manager. Read more about Joan.One of our readers shared the following story and question with me, and gave me permission to share it here:I’m trying to downsize and get rid of my crap to pay off my debt.  I also don’t like clutter so I want to get rid of my stuff so my family of 3 can comfortably fit into 1100 square feet. But … [Read more...]

4 Personal-Finance Lessons From NASCAR

Note: This is a post from Joan Otto, Man Vs. Debt community manager. Read more about Joan.For those of you who didn’t spend Sunday watching the Daytona 500 – and bemoaning its 6.5-hour rain delay and multiple 8-car-plus crashes – well… you have my sympathy. (And my apologies, because you probably aren’t going to like today’s post if you’re not a NASCAR … [Read more...]

You Don’t Need That MBA Degree: Continuing Thoughts on Higher Education

This is a guest post by Mariana Zanetti, who earned her MBA degree from one of Europe’s top business schools and has more than 12 years of international marketing experience in three countries. She is the author of The MBA Bubble and shared this post in response to an earlier Man Vs. Debt post by Joan titled Do You Really Need That Master’s Degree? When my Harvard MBA colleague told me … [Read more...]

Taxing Decisions: Joan’s Mid-March Financial Update

Image courtesy of our friend PT of PT Money (www.ptmoney.com) Note: This is a post from Joan Otto, Man Vs. Debt community manager. Read more about Joan.Tax season is hitting full-force here in the US! Our taxes have been done since early February, thanks to my own OCD record-keeping and our accountant’s desire to get us in and out as early as possible each year, what with our 80 streams of … [Read more...]

The Great Pile of Unread Books

Note: This is a post from Joan Otto, Man Vs. Debt community manager. Read more about Joan.I love to read.It doesn’t really matter what it is – barring anything else handy, I’d happily read the back of a cereal box at breakfast – but since I was about 3 years old, I’ve rarely been without a pile of books in progress.In January, I set a goal on Goodreads to finish 75 … [Read more...]

Julian’s Success Story: How Going $42,000 in Debt was the Greatest Decision I’ve Ever Made

Julian Hayes II is a fitness and lifestyle coach and writer based out of Nashville, Tennessee. He is the creator of 206 Fitness. Why 206? Not only is 206 one of his nicknames, but there are also 206 bones in the body. He believes anyone can achieve the body they’ve always wanted while still living a fun and adventurous life. Read more about him and download his free ebook on how to achieve the … [Read more...]

You Want It. You Buy It. You Forget It.

Note: This is a post from Joan Otto, Man Vs. Debt community manager. Read more about Joan.Two summers ago, while visiting an art museum in Washington, D.C., we came upon an exhibit in the process of being installed. Huge letters and swaths of red, black and white covered every square inch of wall and floor.When I saw it, I took the photo above, hoping it would serve as a reminder to go back and … [Read more...]

Business and Hustling Lessons from the WWE Network

Note: This is a post from Joan Otto, Man Vs. Debt community manager. Read more about Joan.You guys are going to think I spend my Sunday afternoons watching America’s best not-exactly-a-sport sports, between today’s post and the one from last month about 4 Personal-Finance Lessons from NASCAR!I spent THIS Sunday watching… you guessed it… WrestleMania 30, thanks to my … [Read more...]

The Report from the Three-Year Mark: Joan’s Mid-April Financial Update

Note: This is a post from Joan Otto, Man Vs. Debt community manager. Read more about Joan.It’s official: I’ve been tracking my debt for exactly three years.While I didn’t post my first financial update on Man Vs. Debt until a year later, I first sat down and wrote my detailed list of debts – the one you see listed on my Joan’s Finances page – on April 14, … [Read more...]

Flipping My First House – 8 Weeks…and Continuing

My friend Joshua has decided to try his hand at flipping houses. He wanted to write about his house flip, and I wanted to learn from it, so I invited him to publish his experiences here. If you haven’t yet read the first two posts, I have provided the links below so you can catch up!Post 1: Flipping My First HousePost 2: Flipping My First House – 5 Weeks InThe Past 3 Weeks…Even … [Read more...]

Still Growing in Popularity – Goals Update #17

Whew! It seems like every week is crazier than the last, and this past week has certainly been no different. I traveled to New York on a business trip a week and a half ago, and since then my article, “9 Things the Rich Do That the Poor Do Not” was picked up by Business Insider, and then because of it’s popularity was set up as a featured article on their site! All in all, that … [Read more...]

21 Things I Always Get From the Dollar Tree

Over the course of my adulthood, I have slowly discovered the amazingness of the dollar store. An item that typically costs $4 or $5 at another retail establishment might only cost $1 at the dollar store. After a few of these purchases, the savings could really add up! So why not just put a list together of the things we should be purchasing from the dollar store?Before I dive into my list of 21 … [Read more...]

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