All about down payments and mortgage requirements

It’s exciting to buy your first home, but act responsibly when it comes to making this purchase: Live within your means. Don’t get yourself into risky or untenable situations when it comes to choosing a home or taking out a loan. Do not assume the value of the property will increase. Do not assume you… Continue reading All about down payments and mortgage requirements

Tips to deal with financial emergencies

What if a financial emergency, crisis, or sudden need requires more cash than you have available in your savings account? It could be a large medical expense not covered by your health insurance plan, a large down payment on a house, or an extended period of unemployment. You may be tempted to simply turn to your credit… Continue reading Tips to deal with financial emergencies

What are assets?

Your house, the cash you have in your checking account, the car in your driveway, the oak table in your dining room, the pair of running shoes in your closet, and the phone in your pocket are all considered “assets.” However, when it comes to personal finances, assets typically refer to big-ticket items — houses,… Continue reading What are assets?

Should I use Quicken, Mint, or other software to manage personal finances?

Quicken, Mint, Check, and other services offer the ability to aggregate and track all of your financial and spending information in one place. The basic idea behind these services is similar. After registering, provide the login details for various accounts — banking, credit card, loans, bills, etc. The software connects to these accounts, downloads the… Continue reading Should I use Quicken, Mint, or other software to manage personal finances?

How credit ratings agencies “score” you

A credit report is a document that grades you on your ability to pay your bill. The credit ratings agencies that provide the reports — Experian, TransUnion, and Equifax — gather information from the credit card companies, mortgage lenders, department stores, utilities, and other firms that have provided credit to you in the past. The information… Continue reading How credit ratings agencies “score” you

How to cut utility costs: My 10% solution

The following post was excerpted from Personal Finance For Beginners In 30 Minutes, Vol. 1, by Ian Lamont. All rights reserved. When it comes to saving on other types of utility bills, the experts tend to get into home improvement projects such as adding insulation to your attic, installing double-glazed windows or energy-efficient heating systems,… Continue reading How to cut utility costs: My 10% solution

Internet bundles are not as cheap as you think

The following post was excerpted from Personal Finance For Beginners In 30 Minutes, Vol. 1, by Ian Lamont. All rights reserved. Home Internet service is a necessity for most people. Internet service providers and cable companies know this. To get you to pay more, they offer “Internet bundles” that combine Internet, phone, and cable TV.… Continue reading Internet bundles are not as cheap as you think

PayPal vs Dwolla

If you use eBay or have paid someone over the Internet, you’re probably familiar with PayPal. The basic PayPal service lets people pay another PayPal account holder almost instantly. It’s an alternative to paying someone by check, or via cash. The setup for PayPal and alternative services such as Dwolla is straightforward: Enter your bank… Continue reading PayPal vs Dwolla