Review Category : Featured Articles

How To Settle Your Money Arguments At Home

Many families worry about their financial plan and whether or not they will run out of money.  Some families are living paycheck to paycheck and trying to figure out a better way to budget their monthly dollars.  However, money arguments are one of the leading causes about why couples ultimately split up.  According to the Institute for Divorce Financial Analysis, 22% of all divorces are caused by money issues.  So, how do you stop those money arguments at home? #1 The Dreaded Spender Saver Couple It is important to try to understand your spouse’s money personality as we all have a unique way we think about money shaped often by how we were raised as a child.   The most critical item for a couple where you have one person who is very frugal and the other who can often be frivolous is to set concrete unified family financial goals.  This means really sitting down and figuring out the financial priorities ...

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When Is The Right Time To Refinance?

With the Fed recently raising interest rates, many people have started to wonder if they should act on the refinance now or wait to see what happens with interest rates.  If you are buying a new home, thinking about refinancing your mortgage, or just wondering where this is all headed, it is a good time to start crunching the numbers and examining the current mortgage you have in place.  So, when is the right time to refinance? Side note: There is “Rule Of Thumb” – the rule of thumb really boils down to a math equation which I will lay out for you here in the article. Question 1: What Is This Going To Cost You? There is always a cost to refinance. Sometimes you will hear on television these deals that say no closing costs or no cost to refinance.  What some companies do is simply roll those closing costs into the newly refinanced loan so instead of refinancing ...

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Five Wedding Gift Ideas For The Modern Day Bride And Groom

Several years ago, I wrote a your smart money moves blog https://bit.ly/2JZfUK4 about what is the right amount to give for a wedding gift.  According to CNBC, the average cash gift for a wedding across the United States is $160 with the state of Vermont the highest at $240 and the state of Arkansas the lowest at $73. Trends are changing this year in how couples plan for their wedding.  Rather than starting with palette, couples are planning out wedding vision boards that capture their vibe and celebration instead.  With the cost of flowers rising through the roof, balloons are being used as a replacement that is colorful, fun, festive, and most importantly less expensive.  Let’s not forget that in the world of social media today, couples are looking for some of those Instagrammable moments including seating card displays and interesting drinks as their guests enter the reception. Here are five wedding gift trends that you need to know for ...

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Should You Buy A Home Before Amazon Makes A Decision

Amazon will soon announce the winner of its HQ2 parade, with one city emerging victorious to get on the back of Jeff Bezos and ride him like Secretariat for the Triple Crown.  There are all sorts of interesting statistics on what an Amazon HQ will do the economy of the city it picks and even recently there were odds thrown out with Boston as the 5/1 to favorite.  If sports betting becomes legal in time in all states, would you take this bet? One financial decision to consider now in the cities that believe they have a chance to reel in Amazon for HQ2 is whether or not to buy real estate betting that prices will soar through the roof like they have in Seattle over the past five to ten years.  The bet is to get in the real estate now before prices explode after the announcement.  It’s almost like betting on an earnings report on Wall Street or ...

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Can You Retire On 1 Million Dollars?

One million dollars used to be the gold standard when it came to figuring out how much money you would need to never have to work the rest of your life.   Now, we all know if you really put your mind to it that you could probably retire on a million dollars, but the real question is whether or not you could maintain the standard of living you have been accustomed to off of your current income.  With our society having become more of an outsourced society than a do it yourself society, here’s why 1 million dollars isn’t what it used to be. The Slient Killer – Inflation may be the number one item underestimated when it comes to overall retirement planning. Inflation is on the rise, and if it rears its ugly head at the 4% level you better seek shelter to figure out how to make your money last.  At a 4% inflation level, 1 million dollars ...

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Why Universal Basic Income Won’t Work

After I listened to this short clip on the Wall Street Journal’s website over the weekend, I felt compelled to write a short article around Universal Basic Income because I think it is a topic that you will see bandied about a lot more over the next five to ten years.  http://on.wsj.com/2tZbLPp Chris Hughes who is the cofounder of Facebook, is one of the driving forces behind this movement along with Bill Gates and other tech giants who are strong proponents of Universal Basic Income (UBI). In his interview you can watch from the link I shared, Mr. Hughes says, “I think that something fundamentally in the economy has changed to create these winner take all markets, where a small number of hardworking people do very well, and nine out of 10 others are  also hardworking don’t enjoy the same opportunities.”  Mr. Hughes, I am sure they taught this at Harvard as standard course requirement but it is something called ...

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Five Ways To Save Money On Spring Break

With Spring Break right around the corner, families across America are thinking about vacations to staycations wondering how to fit this into their family budget.  If you aren’t careful, Spring Break could cost you upwards of $5,000 or more depending on how far of a getaway you plan for your family.  There are a number of ways to save money along the way, and if you plan appropriately you can even save money on your trip. What’s In Your Wallet – We walk around all year with our Contanza size wallet full of cards we don’t use at all. Before you spend a nickel on Spring Break, see if you have a AAA card, an AARP card, a Student ID (if a student is with you), or some other discount card that can offer you savings at local venues, rent-a-cars, or restaurants.  In addition, double check what your credit card may offer from lower cost Uber rides to savings at ...

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How To Use LinkedIn To Make More Money

Most of our articles strictly talk about personal finance, but I thought it would be cool to teach you about how to use the Social Media platform LinkedIn to help you make more money either with your career or your business. Many business owners and individuals that I help at Hyperchat Social (Try Hyperchat Today) often ask about how to generate leads or get a pay raise at work. We know that lead generation is the end all be all problem for most business owners or individuals trying to grow their income.  What’s surprising is how many business owners don’t take advantage of free leads that may be right under your nose because you just didn’t realize how to get those leads. Since the beginning of 2017, LinkedIn decided to completely overhaul their platform and interface with LinkedIn users.  It shouldn’t come as a surprise to you that LinkedIn is feverishly trying to figure out how to create more recurring ...

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What’s Best? Buy, Lease, or Rent A Car

One of the day to day family financial decisions we have to make as adults is whether or not we should buy a car or lease a car.  Over the past twelve months, there have also been options popping up across America around the concept of joining a subscription service and renting a car.  Making the right decision for your family can potentially not only improve your budget, but it could also improve your lifestyle.  Here are my side by side on whether you should buy, lease, or rent a car. Buying A Car – There are lots of considerations when you buy a car, but traditionally I have only been a fan of buying used cars that are two to three years old and the large initial depreciation wears off.  You can cover yourself by buying a bumper to bumper 100,000 mile extended warranty if you have concerns about something major happening to the car, but I like the ...

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