This category is dedicated to content that teaches you ways to avoid debt and strategies in paying off credit card and loan debt including your mortgage. My favorite way to pay off debt fast is to use velocity banking. If you want to learn more about velocity banking, the 7 baby steps, or other strategies, this is the page for you.
Micro-savings apps are designed to help you passively save for a savings goal. Their concept typically involves taking small amounts of money from your checking account in a way that you barely notice. Many of these apps allow you to set savings goals or customize the way you save. Here is a list of the top 5 Micro-Saving Apps. 1. Qapital Qapital is an app that offers customizable goals and rules such as the Round Up and Spend Less Features.…
Is $1 million enough to retire these days? You shouldn't retire based on age, but instead should focus on improving your net worth to reach your retirement goal, allowing you to retire as early as your 50's, 40's, or even 30's if you have a good income and start early enough. F.I.R.E. stands for "Financially Independence, Retire Early", but it's not for everyone. Here are 3 steps you need to take to reach the goals of the F.I.R.E. movement. 1.…
Real estate investing is one of the most popular ways to invest your money. Your tenants can give you equity in your property, increase your net worth, pay off your debt, and give you passive income. I saved as much as I can with my first job after college. Half of my income went straight into student loans while the other half went towards savings. My parents provided me with food and shelter. By the time I was 24, I…
With rising tuition costs, more and more people are finding it difficult to afford an education, especially for those in the low and middle class. Every year, the number of people who skip college is increasing. Those who don't get scholarships and attend private school are ending up with a 10-30 year student loan payment term that rivals a mortgage payment. Luckily, each state offers a 529 triple-tax advantaged education savings account. The money you contribute to a 529 is…
Want to become a real estate investor? Real estate investors invest in properties to make money, however many beginner investors fail and never see their returns. Here are 8 ways to maximum your earning potential and reduce your risks as a landlord. Find upcoming markets - This is one of the most difficult tasks in becoming a real estate investor. Find an area in development with a young professional demographic. These areas typically have low cost properties that charge high…
Before I get into this, I should explain that I have been using the velocity banking method for 1 year now, and it has already shaved off 11 years and over $54,000 of interest from my mortgage. IT WORKS!! I plan to be done paying off my new house by 2026. To explain velocity banking, I have to explain the basics. A loan is a lump sum of money you borrow and pay back over a fixed term. It is…
Budgeting is important if you want to save for retirement of pay off debt. Mint is the most popular budgeting app as it connects to all of your accounts to calculate your net worth and monthly spending in various categories. While this is convenient, Mint often has connectivity issues with your accounts. It often mis-categorizes your expenses and income. On top of that, Mint is filled with ads trying to get you to sign up for credit cards or loans.…
