Debt is a necessary part of our lives. There are items and goals that would be unattainable to us without borrowing. Imagine having to save up the entire cost of a house before being able to purchase one. Many people find it challenging enough to save up the down payment, which can range between 5–20% of the home’s purchase price….
The thought of properly utilizing debt may appear to be a foreign and uncomfortable concept. Some people frown upon the idea of being indebted and prefer to make all purchases with the money they have. Others abuse debt and use it to fund lifestyles they cannot afford. Striking a balance between abuse and proper usage of debt is complex due…
What Is The GIT? Do you make a substantial amount of money but feel like you’re not getting ahead? Unfortunately, you may have fallen into The Gross Income Trap (GIT). The gross income trap is thinking, behaving, spending, and living a lifestyle as if your Gross Income is your Net Income. Gross income is our income before taxes and deductions….
If you’re wondering if bankruptcy is right for you, you may be in a situation where you’re in a great deal of debt and believe you do not have many options. You may have lost your job or had a medical emergency that put you in a deep financial hole. Debt collectors constantly calling and sending letters, and seeing your…
Communication is very important in any relationship, and it is especially essential in marriages. The union between two individuals is a legal contract that could be based on various reasons. Christy Bieber, in a Forbes article titled “Leading Causes Of Divorce:…” reported that a survey listed financial security, companionship, and love as the top three reasons why people get married….
Many of us know and believe that family is important. In spite of believing in the importance of family, many do not know the potential that their family holds. Along with that, many do not know how to manifest the untapped potential that is latent in their family. One of the reasons many of us value the importance of family…
Conventional financial wisdom states that a person should pay down high interest debt before they begin investing. The wisdom behind this is that high-interest rates on credit cards will negate the returns on investments. According to LendingTree.com, the average credit card APR in the United States is 24.6%, while the average annual return of the stock market is 10%. Take, for…
What came first, the hammer or the nail? The question is less complicated than the chicken and the egg riddle. We’ve mentioned many times before on this site that money is a tool. We have never specified what type it is because the type of tool does not matter as much as understanding the concept that money is a tool….
Not many of us can purchase whatever we want whenever we want without considering how we are going to pay for it. Most people are limited to their income, and after covering basic necessities such as food and shelter, not much is left over for large purchases. Credit cards and loans do provide an opportunity to increase your purchasing power,…
Having a plan for your life is very important. Knowing where you want to go and how you’re planning to get there can be the difference between living a fulfilled, meaningful life and wandering around aimlessly without a purpose. Unfortunately, there are many people who do not know what they want to do and believe purpose will eventually fall into…
Rohman Rory Hemley