Tag: Interest
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Chapter 33: Building Credit
Square One New year and new beginnings, building good credit gives you opportunities and expansions into things you wouldn’t be able to do yourself. Using credit properly is a tool. The best example I like to give is fire. You use fire properly and you have warmth and comfort. Use it wrong and you can…
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Chapter 29: Net 0 Mentality
The net 0 mentality implies when budgeting, that you will use up every budgeted dollar. You will not leave a single one left over for next month. Although this sounds bad this isn’t exactly what you might think. This doesn’t mean spend as much as possible until you reach 0. We’re just going to try…
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Chapter 26: The 2024 Housing Crash?
In the year 2023 housing prices have been soaring, with that mortgage interest rates have also been going up from the high 6% to a staggering 8%. To make it worse mortgage demand is the lowest it has been in over 30 years. (source: MBA Purchase Index) This means that if nobody is buying a…
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Chapter 25: Minimum Payments
Generosity or Genius? Minimum payments are a great way for your credit card company to make money. The longer it takes you to pay them back, the more they can charge you in interest. For perspective, sometimes a minimum payment only covers the interest charge and will probably scrape very minimal off the principal balance.…
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Chapter 24: Risky Money
With interest rates rising, investing is paying less than actually holding and saving cash. What should one do? Hoard all the cash possible and save it? If you don’t save properly it will just get eaten away by inflation but ironically having access to liquid cash could also be a hedge against it. What would…
Money Ain't Sh*t 