This page consists of blog posts that discuss the topics of saving money, budgeting, earning more interest, and paying less interest. You will find information on banking, borrowing, budgeting, and creative ideas on saving.
Imagine shopping for your next home with your spouse. You drive around nice neighborhoods you can't afford just to browse. All of a sudden you find a home for sale with overgrown weeds and rough exterior. It's in a great neighborhood with great schools and it is the cheapest house on the street. Should you buy it? This is a situation that is common in America. If you watch HGTV, you may be familiar with Chip and Joanna's Fixer Upper…
Have you ever heard of the phrase "The rich get richer and the poor get poorer"? I am talking about the self-made millionaires, not the famous actors and athletes who lose all of their money the moment they fall out of the spotlight. The rich spend money in a very different way. Their purchases have purpose or potential to make even more money. They don't buy fancy cars or extravagant homes unless they can claim them as business expenses or…
In the past year, much of the real estate landscape as changed. Becoming a real estate investor is harder than ever in this market. With inflated real estate prices, high mortgage interest rates, and the rising costs of PMI, home insurance, utilities, and home contractors, can you still make money as a real estate investor? Here are 8 ways you can maximize your earnings. Do Your Research & Calculate The ROI The ROI is your return on investment. Thousands of…
If you don't know, an HSA is a Health Savings Account that lets you set aside, invest, and grow your money tax free as long as you spend that money on medical expenses. You only pay taxes on your distributions if you use the money for non-medical expenses. If you use your HSA funds to pay for medical expenses, you don't need to pay taxes on your distributions at all. Click Here to learn more about how an HSA compares…
The past few weeks of the stock market performance has been worrisome. The last 48 hours have been gut wrenching. All stocks and crypto's have been crashing down to pre-COVID levels or even lower. Tech companies have fared the worst by far, including Fin-Tech. In the past 2 months, my investment portfolio decreased by $40,000. While all of this is happening, my net worth has remained the same. How? Real Estate & Cars. The values of real estate and cars…
There are hundreds of ways you can reduce your utility bills. Those who are considered "CHEAP" come up with innovative ideas such as recycling their shower water in a bucket so that they can use that bucket of waste water to flush the toilet. Without going extreme, here are 16 common ways you can reduce your utility bills. Electricity 1. LED Bulbs. Once upon a time ago, LED lights were very expensive. Times have changed and soon it will be…
Velocity Banking is a strategy used to pay off debt really really fast, hence the name velocity. In essence, it is the strategy of paying off your debt in large principal chunks every "x" number of months. For example, you put $5,000 extra towards principal now, then don't pay any extra principal until you save up $5,000 again. That is the simple explanation of Velocity Banking, but it involves more than just that. Debt Snowball is the process of paying…
Getting a credit card can sometimes feel like free money. Banks offer lines of credit to almost anyone, giving you the ability to spend $500, $1000, or even $10,000 before you get your next paycheck. You have two schools of thought when it comes to having a line of credit. You have the Dave Ramsey way of thinking that all debt is bad, and then you have the Graham Stephan way of thinking where, if you are responsible, you should…
Here at Finance Throttle, we often talk about the concept of Velocity Banking, a strategy used to pay off your $80,000 student loans or $300,000 mortgage in as little as a few years. To use the Velocity Banking Strategy, you need certain tools to be successful. You will need a HELOC OR a no annual fee, 0% introductory "MasterCard" credit card OR extra savings above & beyond your emergency savings account OR Plastiq. In this post, we will focus on…
I recently stumbled on Figure who claims they are the fastest at approving and funding for HELOC's, or Home Equity Lines of Credit. Before I continue, Finance Throttle is not sponsored by Figure. I just found them interesting as an alternative to the traditional bank. Figure's HELOC is powered by the blockchain and operates in 43 states with more coming. With a short online application, you can get approved and gain access to your home equity in as little as…
