Laura Quinn
Laura Quinn has been writing for more than 20 years. She has a bachelor s degree in English from Valparaiso University, Indiana.
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- 5/18/2010
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Valparaiso University
Displaying Results 1 - 200 (of 1895) for All Content
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First Person: 5 Old-School Money Tricks I Still UseI adopted several old-school money tricks that I picked up from my grandparents who lived through the Great Depression as well as from personal finance books. The old-fashioned way to getting rich still works today.
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First Person: I’m Glad I Talked to a Bill CollectorI used to get a sick feeling when I heard the phone ring because I knew it was a bill collector. But answering the call and bargaining with a bill collector was the best thing I could have done for my financial future.
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First Person: I'm Planning for an 'Extreme' Early RetirementAlthough I admire people who work until they are 70, I plan to give up the rat race at 50. My motto is not nine-to-five until 65. However, retiring extremely early requires a lot of planning.
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First Person: We're Spending Less Now and Leaving More for an InheritanceDifferent generations have radically different ideas about whether or not to leave an inheritance. As Gen Xers, it's challenging to figure out how much to spend on children now and how much to leave for an inheritance.
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First Person: My Debit Card Was FrozenNow that I know my bank might freeze my debit card when I travel to other states, I make sure to carry cash and an extra credit card. I educated myself on what triggers my bank to suspend my account for suspicious activity.
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First Person: We're Losing Out on Our Chance for a Run-Up in Housing ValuesNow that the housing market appears to have stabilized, we may be missing our only chance to break even on our home purchase. Short of a dramatic run-up in value, it may take more than a decade for our home value to return.
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First Person: We Owe the Median Debt for Average Gen-X HouseholdEven though members of my Generation X have the most overall debt, new reports from the Census Bureau show our credit card debt is shrinking. It's the grandparents who are accumulating the most consumer debt.
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First Person: Why I Didn’t Wait for 15-Year Mortgage Rates to Go Any LowerI'm glad I didn't wait to see if mortgage rates would go any lower when refinancing for a second time. Even though we didn't get the lowest historic rate, we are glad we refinanced to a 15-year mortgage at 2.75 percent.
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First Person: Winning the New Home 'Lottery' Was No Victory for UsEager new home buyers are creating such a demand for housing that some builders have brought back the lottery system. Even though we won the lottery drawing for a chance to buy a new home, we felt like losers after the bubble burst.
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First Person: I Was Ignorant About Social SecurityUntil I became educated about Social Security, I planned to retire early. Now I can see the financial benefits of waiting until I'm 70 to retire. Generation X may learn from the mistakes of baby boomers who retired too soon.
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First Person: Taking Separate Vacations Helps Us SaveThis is the second summer we have saved significant amounts of money by taking separate vacations. How we spend less money traveling solo.
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First Person: 4 Steps to Breaking My Debt AddictionI was able to break my credit card addiction by going cold turkey. How 4 simple financial rules helped me overcome my credit card dependence. I got out of $50,000 worth of debt and stayed debt free for a decade.
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First Person: Making it in the Middle ClassExperts still can't figure out how to define the middle class, but everyone knows it's easy to fake it in the middle class by using credit cards. Why I decided to give up an upper middle-class lifestyle.
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First Person: Foreclosures Are Still Dragging Down My Property ValueI'm wondering whether the values of homes in my Florida neighborhood will ever recover. Although prices of homes seem to be going up around the country, a shadow inventory of foreclosures is dragging my property value down.
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First Person: Getting My Personal Cash Flow MovingI used a cash flow personal finance calculator so I could master the art of cash flow forecasting. Learning to manage our cash flow is helping us to prepare for the future while enjoying our lives in the present.
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First Person: Getting My Finances in Order Before a LayoffInstead of waiting until the boss axes my job, I'm preparing ahead of time in case of a job layoff. How I get prep my finances for a personal financial crisis so I can avoid taking unemployment benefits and going bankrupt.
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First Person: I Doubled My Net Worth During the Economic RecoveryI was able to double my net worth during the first two years of the economic recovery, while 93 percent of Americans lost 4 percent of their net worth. How I came out ahead by paying down debt and investing in stocks.
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First Person: I’m Not Gambling With My RetirementInvesting in individuals stocks has become a lot like gambling. I am opting for index funds for my retirement fund in a time when experts give mixed messages about how to avoid the train wreck that is the American retirement.
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First Person: Paying Down My Mortgage Was My Best Financial DecisionI know I'm making the right financial decision to pay down my mortgage because of a recent survey of people 55 and older. Many older people say paying off their mortgage was their best financial move.
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First Person: How I Save in a Family of SpendersI used to be the spender in the family, but my role has changed now that the recession is over. How I save money secretly for our future as the rest of the family goes on spending sprees.
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First Person: I Could Live on Social Security AloneI plan to live on Social Security alone so that I will have more money to give my children and grandchildren when I'm older. I also want to hedge my bets in case I'm forced to live on less due to a global economic crisis.
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First Person: Paying Off My Mortgage Isn’t StupidExperts say I'm stupid for paying down my mortgage with an interest rate of just 2.75 percent, but I don't care that it's no longer cool. I have a plan to save $250,000 after paying off my mortgage at 50.
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First Person: How I Found Work-Life BalanceAccording to new research, a high number of employees across the world lack work-life balance. How I found work-life balance by taking responsibility for my own employment destiny.
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First Person: We Can’t Live on One Income YetAlthough we found out we can't afford to live on one income yet, we could manage it in another 15 years. We spent one week finding out what it would be like to live on only my husband's paycheck.
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First Person: My Home Was a Horrible InvestmentAfter using a calculator to determine whether my home was a good investment, I found out I would have came out further ahead by investing in stocks or bonds. I no longer view my house as an investment, but a money pit.
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First Person: My Sons' Thrifty Ways Remind Me of the ‘Greatest Generation’My sons remind me of their great grandparents who were part of the thrifty "Greatest Generation." New research shows Millennials are on the path to becoming free of debt.
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First Person: As a Gen-X Consumer, I Can’t Be Put in a BoxMarketers are using a data base of information so they can understand how to reach consumers. I found I don't fit into any of their clusters or categories such as "City Mixers," and " Apple Pie Families."
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First Person: 3 Ways We Are Preparing for Increased Health CostsWith the rising costs of healthcare, my husband and I have had to make tough financial decisions. We increased the amount we put into our health savings account to the detriment of our retirement savings.
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First Person: My House Is Part of My Retirement PlanMy home is the largest piece of my retirement puzzle as I try to figure out how to retire comfortably. My plan is to pay off my home at least 10 years before I retire so that I increase my cash flow in retirement.
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First Person: I Repaired My Credit After Making So-Called Irreparable MistakesI was able to go from having a horrible credit score to a nearly perfect one after getting out of debt at age 30. I had to build my credit history by being smart about my credit instead of shunning all credit.
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First Person: Why I Keep 4 Different Retirement AccountsI want to hedge my bets when it comes to my retirement planning. That's why I have four separate retirement accounts with three different brokerage firms.
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First Person: We’re Happy We Bought Less Home Than We Could AffordAfter making it through the housing crash, my husband and I are glad we bought less house than we could afford. We asked ourselves several key questions to determine whether we could truly afford our house.
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First Person: It’s Not Too Late for Me to Ride the Bull RallyEven if we are headed to another stock market crash, I'm investing in stocks for the long term. I am excited that the stock market has reached all-time highs because it could signal the start of a secular bull market.
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First Person: It Doesn’t Take Intelligence to Be RichA new Duke University study shows billionaires are some of the smartest people. However, I think it doesn't take any brainpower to become rich. The secret is to hire people and get advice from people who are smarter.
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First Person: Generation X Should Love Obama’s Proposed BudgetAs a Gen-Xer, I don't mind asking retired baby boomers and the wealthy to do their part. While baby boomers may be howling about aspects of President Obama's proposed budget, I'm in favor of the Buffet Rule.
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First Person: I’m Not Worried About Another Housing BubbleEven though we are regaining some of the equity we lost in our home, we wouldn't make any money by selling. Our snowbird relative who owns two homes, however, may sell as soon as prices peak.
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First Person: Rolling Over My 401(k) Wasn’t ‘Too Confusing’Contrary to a report by the Government Accountability Office, it was not too confusing to rollover my money from a 401(k) plan to an IRA. I didn't feel misled by my discount brokerage firm that charges me very little to trade.
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First Person: I Believe in the Power of Retail TherapyRecent studies show that retail therapy is a legitimate way to relieve stress and find happiness. By following a budget and shopping by myself, I'm able to relieve depression by shopping. Shopping also saves me money in other ways.
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First Person: My Stress Response Is to Save During Hard TimesPoor people are more likely to spend during economic hard times. I frantically saved during the Great Recession as a fear response, but a new research study shows some people spend when times are tough.
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First Person: Vacation Homes Are a Luxury We Can’t AffordNew real estate reports show vacation home sales are up 10 percent compared to the previous year, but we can't afford one. The new normal for Generation X is taking less or no vacation time.
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First Person: How Much Do We Need in Emergency Savings?Instead of arguing about how much money we should be saving for emergencies, my husband and I used a personal finance calculator. We decided to pick a savings target range so we can have enough saved within 5 years.
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First Person: We're Frantically Getting Rid of Debt While Our Elders Load UpNew Census Report data shows the older generation is loading up on debt. As a member of Generation X, I'm frantically crossing out my debt because having debt is a bad scene for everyone.
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First Person: Preventing a ‘Bag Lady’ FutureA new study shows a lot of women are afraid of a 'bag lady' future. I am making key financial choices that gives me financial security in a time when I can't count on Social Security and the job market.
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First Person: How I Recovered After Losing My First $100,000It wasn't easy to recover financially after losing my first $100,000 in the stock market. I watched as my hard-earned money vaporized instead of growing into a million dollars as I had hoped.
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First Person: Compensating for a Smaller PaycheckI am not willing to make certain sacrifices to make up for a smaller paycheck. Whether it's downsizing, getting a second job or giving up life's small pleasures, it's simply not worth it to me.
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First Person: We Don’t Tell Our Aging Parents How to Handle Their FinancesWe don't always agree with how our parents handle money, but until they have dementia, we plan to keep out of it. It's frustrating to watch elderly parents make mistakes with their money, but we learn from their missteps.
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First Person: I’d Sell My Home Even Though It’s Not for SaleWith a shortage of housing inventory, some Realtors are knocking on doors asking if home buyers wish to sell. Now that the value of our home is going back up, I'd consider selling it to the right buyer.
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First Person: I’m Financially Compatible With My SpouseMy husband and I recently took a quiz to find out whether we are financially compatible. We have found ways to complement one another so that we are more balanced about our personal finances.
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First Person: Being Employed Doesn’t Make Me Part of the Walking DeadI may be part of the walking dead by being a full-time employee, but I'm not going to quit my job out of fear or on a whim. I don't agree that temp employees or freelancers can replace many of us working with full-time gigs.
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First Person: Why We Aren’t Buying an Investment PropertyWe considered buying a condo for our son who is attending college out-of-state. With the price of condos so cheap and the cost of rent so high, we figured it would be better to buy, but we were wrong.
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First Person: I’m Not Letting Fees Eat Away My SavingsNew federal rules are supposed to make it easier to know how much 401(k) plan providers are charging in fees, but it's difficult to figure out. A new study shows some workers can lose as much as $100,000 in fees.
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First Person: Coping with Zombie Foreclosures in Our NeighborhoodMany of the Zombie foreclosures in my neighborhood are being eradicated as banks move to fix up and sell homes again. Meanwhile, many of our neighbors are no longer underwater on their mortgages as home values increase.
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First Person: Why I Saved First, Then Paid Down DebtWhenever I have extra money, I debate about whether I should pay off debt or save the money. I am glad I saved a windfall I received a few years ago instead of trying to pay down my debt.
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First Person: I’ve Stopped Sabotaging My Nest EggI made all the wrong financial moves in my 30s that sabotaged my retirement nest egg. However, in my 40s, I'm planning to make up for foolish decisions and diversify my investments so I can retire with confidence.
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First Person: Moving Around Put Me Behind FinanciallyI sat down and figured out how much money I wasted by living in about a dozen different apartments and homes over the course of a decade. How settling down and buying a home put me ahead financially.
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First Person: Investing for Retirement Is My Last PriorityIf I could do it all over, I would have put nothing in my retirement accounts in my 30s. Instead, I'd pay off my home and save money for other financial priorities that actually matter to me in my 40s.
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First Person: How Refinancing Sabotaged My Financial GoalsRefinancing our home lowered our monthly mortgage payment, but it sabotaged our other financial goals. How refinancing has had a negative impact on our living situation and finances.
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First Person: Over 50 and Unemployable?Even though I'm not 50 yet, I'm already starting to plan for the fact that I may be jobless at that critical stage of my life. Experts are saying workers over 50 are the new unemployables, which means I need to save more now.
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First Person: I Can’t Afford to Take on More DebtBefore I make any major purchases such as a new car, I check my debt-to-income ratio by using a personal finance calculator. Why I am hesitant to take on any new debt.
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First Person: We're Suffering From the Declining Value of CouponsI have had to spend more money on groceries because the face value of coupons is decreasing. Since the recession ended, companies are getting stingier with their discounts. I may just need to improve my grocery IQ.
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First Person: Financial Setbacks for My ‘Sandwich Generation’Being a part of the "Sandwich Generation" isn't about having late-night snacks as much as it's about juggling the financial responsibilities of having aging parents and young adult children who return to the nest.
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First Person: I’m Paying a Financial Penalty for Being Born FemaleStatistically, I'm more likely to end up poor compared to the average man. However, I'm taking steps now to ensure I have enough money when I'm older. A new study explains why women are more likely to end up poor.
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First Person: My Retirement Confidence Is ShotMy retirement confidence is at an all-time low and it turns out I'm not alone. According to a new study, one in three workers are worried they won't have enough money to retire.
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First Person: Occupy Wall Street Forgive Me, for I Have DebtI'm inspired by Strike Debt's recent random act of kindness to forgive $1 million of random people's debt. I think Occupy Wall Street's offshoot group has found a positive way to make a real difference.
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First Person: Taking the ‘Spent’ Challenge Turned Me into a SaverI have more empathy for people who are living on minimum wage after taking the "Spent" challenge, an online game that gives players just $1,000 for the month. I went broke after 26 days by making a lot of sacrifices.
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First Person: Student Loan Debt May Stunt the Housing MarketHousing values may be increasing, but it turns out most young adults are not participating in the new housing boom because of student loan debt. I'm still hoping my children can buy their first homes in their 20s.
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First Person: I'm Using My Retirement Savings Before I RetireI have no problem with dipping into retirement savings before I actually retire. With my Roth IRA, I can help my children pay for college for for their first homes without penalty.
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First Person: Trimming Our 15-year Mortgage by 7 YearsFor the same amount of money as a car payment, we can trim our 15-year mortgage by 7 years. Why we are paying an extra $500 toward our mortgage principle every month.
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First Person: I Keep Money Secrets from My SpouseKeeping money secrets from your spouse doesn't have to be a bad thing. I save money behind my husband's back instead of spending it.
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First Person: Gen X Doesn’t Need as Much WealthExperts say Generation X and Y do not have as much wealth as their parents. I don't think Generation X needs as much money because they have learned to live on less during the recession.
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First Person: Recession Over, but Frugal Habits Are Here to StayI'm no longer living in the shadow of the recession, but I haven't given up my frugal ways. I have found small and painless ways to tweak my budget and save money without triggering spending rebellion.
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First Person: Malls Need to Win Back My BusinessI haven't been to a mall for years because I can shop on the Internet. Mall owners in Europe are trying to win back customers by housing government and medical offices at the mall.
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First person: 5 things I love about living in a smaller homeI wouldn't trade my smaller home for a mansion because I love feeling closer to my family in our cozy Florida house. We won't have to downsize when it's time to retire because we picked the right size from the start. -
First Person: Repairing My Credit so I Could Buy a HomeI dreamed of buying a home in my 20s, but was denied because of my poor credit score. I repaired my credit score in four years so I could purchase my first home. Now I have achieved a nearly perfect score.
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First Person: U.S. Net Worth Bounces Back, but I’m WorriedExperts say we are back to pre-recession levels in terms of our household wealth. Even though my net worth is up, I'm not confident enough to go back to reckless spending. And I don't trust the stock market.
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First Person: Admitting My Money Mistakes to My ChildrenA new finance study shows half of adult children think their parents made no mistakes when it came to their finances. Why I'm open with my young adult children about my personal finances, even the rocky periods.
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First Person: ‘Made in the USA’ Still Matters to MeAs soon as I saw how hard my sons struggled to get jobs, I realized I needed to start buying local products. A growing number of people are creating a demand for the "Made in the USA" labels.
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First Person: Why I Stopped Paying Extra on My MortgageI've finally given into the advice of financial experts and stopped trying to pay down my mortgage. With an interest rate below 3 percent, it no longer made financial sense.
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First Person: Why 6 Figures Isn’t Making Us RichJust because we are making 6 figures doesn't mean we can afford lava rock showers in Fiji. We aren't getting rich on a $100,000 household income because of the diminished purchasing power of our money.
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First Person: Surrounded by Savers, It’s Hard to SpendSince I'm more of a spender, it took a long time for me to adjust to the frugal lifestyle. However, living in a penny-pinching family has motivated me to think about what I really need instead of want.
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First Person: Forced Retirement Savings Would Cause RevoltI hate the paternalistic attitude of economists who think we need to force Americans into saving for their retirement. I want the freedom to live in the moment if I choose, although I am motivated by positive peer pressure to save.
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First Person: Looming ‘Retirement Crisis’ Doesn’t Worry MeEven though the U.S. didn't make the top 10 places to retire in the world, I plan to retire in America in another 30 years. I will avoid my own retirement crisis by saving for retirement and not depending on a Social Security safety net.
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First Person: Comparing My Different Retirement ScenariosBy using the Social Security website, I'm able to figure out my best age for retirement based on different scenarios. Why I decided to wait to take my retirement until I reach age 67.
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First Person: Think Like a Rich PersonEven though I'm not a materialist, I am trying to learn to think like a rich person. I am overcoming my middle-class prosperity guilt so I can build a better future for my family.
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First Person: My Plan for Exiting the WorkplaceAlthough there are many unorthodox strategies for being able to afford early retirement, I am opting for a less complicated plan. How I plan to eliminate debt and save enough to quit my job at age 50.
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First Person: Why I’m Not Retiring to a College TownWhile baby boomers might enjoy retiring to a college town, I am not lured by the idea of being the buzz kill. Why I plan to retire in place in my Florida home, but will avoid the 55-and older communities.
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First Person: My Gen-X Financial Advice to My KidsAfter seeing how the baby boomers messed up their retirement, I have specific advice for my children about how they can make it in today's economy. My children can't depend on the dried up Social Security system.
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First Person: Why I Spend More on Organic FoodsWith many food companies trying to trick consumers into eating more and spending more, I have decided to invest in organic foods. By growing my own produce and cooking at home, I'm saving money without gaining weight.
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First Person: I’m Planning for Higher Property TaxesI'm planning for higher property taxes now that the value of homes are recovering in my area. How I estimate what I will owe in the future, based on the values tracked by Zillow.
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First Person: I’m Contributing More to Our Total Household IncomeA growing number of women are earning higher incomes than their husbands. I found that I started contributing more to our total household income after the Great Recession.
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First Person: The Middle Class is Thriving in My HometownI don't agree with economists who say that the middle class is shrinking in America. In my Florida community, more people are getting a shot at a middle-class lifestyle and home ownership.
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First Person: Liquid Savings Doesn’t Make Me Feel SecureI rather save my money in a remote retirement account and build equity in my home than build up a liquid savings account. Having easily accessible money at my fingertips makes me want to spend.
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First Person: Younger Americans Need Help Escaping the Debt TrapYoung Americans are escaping the stereotype of being part of "Generation Debt," by paying off their credit card balances. A new study shows people under 35 reduced their debt by almost 30 percent in recent years.
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First Person: Furloughs Mean I’m Budgeting With Unpredictable IncomeWhen the company I work for announced furlough days, I knew I'd be adjusting my budget to deal with unpredictable income this year. How I've learned to be flexible with my budget so I can deal with pay cuts.
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First Person: Planning for a Simple RetirementI know I won't need an extravagant retirement because I don't need a lot to be happy now. Why I am going to be part of the voluntary simplicity movement when I retire in another 30 years.
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First Person: Getting Rid of Newlywed DebtWe got rid of our newlywed debt in one year as we waited for our new construction Florida home to be built. How we got rid of debt while saving for a down payment on our first home as a married couple.
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First Person: Accumulating Wealth on Less Than $30,000 a YearIt didn't take a six-figure income for me to break through my first savings goal of $100,000. How I accumulated money for retirement and emergencies on a salary of only $28,000 a year.
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First Person: What Quirky Indicators Tell Me About My EconomyWhile experts have their theories about whether we are in a down economy, I look at my own quirky indicators. Why I feel we may be headed for a new recession even though my son is buying new shoes.
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First Person: We're No Longer Underwater on Our MortgageI actually miss being underwater on my mortgage because it motivated me to pay down my mortgage debt as quickly as possible. Now that I have equity in my home, I am trying to stick to my original plan to be free of a mortgage in my 40s.
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First Person: Rolling Over My Old Pension to a Roth IRAI had to decide whether to take a lump sum distribution or wait it out another 25 years to receive a pension after the company I worked for decided to sell. Why I decided to roll over my old pension into a Roth IRA.
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First Person: Peer Pressure Isn’t Making Me PoorPeer pressure was making me poor until I learned how to say, "I can't afford it." I found the positive side of peer pressure by finding an ally who would motivate me to save more money for the future.
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First Person: Predicting the Future Value of My Retirement Nest EggI decided to increase my savings rate after gauging the future value of my retirement nest egg. By using retirement calculators, I was able to make an educated guess as far as how much money I'll have for retirement.
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First Person: My Refinance Savings Are Going Back Into My HomeInstead of using our refinance savings for a trip or to pay down credit card debt, we are putting the money back into our home. We are building equity faster by paying the same amount of money we always paid toward our mortgage.
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First Person: Creating More Cash Flow in RetirementInstead of counting on the stock market to grow my retirement accounts, I'm reducing my expenses so I will have better cash flow in retirement. How I'm reducing and eliminating debt so that I can retire on time with no worries.
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First Person: Minimum Wage Should Be Raised to $10 an HourI think President Barack Obama is on the right track by asking Congress to raise minimum wage to $9 an hour, but it should be raised to $10 an hour within a year. Raising minimum wage will help businesses as well as workers.
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First Person: The Marriage Penalty Won’t Kill My AmbitionI had fun using a marriage bonus and penalty calculator to figure out how much more money I could make without having to pay a "marriage penalty." Why I don't plan to let the IRS tax code affect my career and marriage decisions.
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First Person: Preparing Financially for No Saturday MailI am not upset about the prospect of no Saturday mail since I often forget to check the mailbox on Saturdays. However, no Saturday mail will affect the finances of some of the older members of our extended family.
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First Person: My 401(k) Balance Is at a Record High, but I’m Not CelebratingA new report shows that 401(k) balances have hit a new high, but I know it's just a temporary situation before the market "corrects." How I plan to retire comfortably without increasing my 401(k) contributions.
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First Person: Proposed Cuts Motivate Me to Help the PoorAfter hearing about the proposed spending cuts detailed by the White House, I realized I need to do more to volunteer. I think spending cuts are necessary to get out of national debt, but people need to fill in the gaps.
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First Person: Replenishing Our Emergency AccountFinancial experts say most people need at least 6 months in liquid savings. We have to replenish our emergency savings account after unexpected expenses burned through it all.
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First Person: My Home Is a Forced Savings AccountSince I'm not good at saving money, being a homeowner has given me a forced savings account. I don't touch the equity in my home until I am ready to sell and find a new home.
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First Person: How I Broke the Habit of Living Beyond My MeansI found myself backsliding into debt because I wasn't living below my means. How I immediately broke the bad habit of overspending and got back on track by taking inventory of my financial life.
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First Person: Save or Spend Our Tax Refund?I debated with myself and my family about how to channel a small tax refund. We had to figure out whether to use our tax refund to pay down debt, save for emergencies or spend on an Australian adventure.
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First Person: My House Isn’t Making Me Feel PoorSome financial experts say home prices are the barometer of personal wealth, but I have not felt that way since the housing bubble. Even though the value of my home is starting to recover, I don't feel the wealth effect.
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First Person: Predicting the Future Value of My HomeIn order to make financial plans for my beachfront property in retirement, I had to figure out the future value of my home. How I found a reliable estimate for how my house might appreciate in the next 30 years.
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First Person: Retiring Too Early is an Act of Sheer Idiocy for Gen-XEven though I'd love to retire early, I've learned the sheer idiocy of making that move by observing the oldest of the baby boomers. Generation X may have even greater financial challenges in retirement.
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First Person: Surviving Blizzard Nemo Cost Me $500 in CashI learned a major financial lesson after Blizzard Nemo blew away my $500 in cash for travel to New York. I plan to build up a better emergency account to cover catastrophic weather events and surprise trips. -
First Person: Calculating My Future Net WorthI don't have a crystal ball to figure out how much money I'll have in the future, but I can use financial calculators and charts to estimate my future net worth. How I plan to reach a net worth of $1 million in 20 years.
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First Person: Turning Bad Financial Decisions Into Good OnesEveryone makes bad financial decisions at some point in their lives. I was able to recover from bad financial decisions and learn from my mistakes.
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First Person: I Don't Need to Know How Much My Coworkers MakeOne of the latest trends in the workplace is a share-all approach that allows an employee to know another employee's salary and performance review. Has transparency and "collaboration" in the workplace gone too far?
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First Person: I Don’t Plan to Die a DeadbeatAre we a nation of deadbeats who have walked away from billions of dollars in debt? Why I think the younger generation is struggling with role models from the me-generation or original generation debt.
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First Person: I Retired $60,0000 in Debt in Less Than 2 YearsI came up with several secrets for getting out of debt quickly in my 20s, after being turned down for a mortgage. I still follow certain financial rules to stay out of debt now that I'm 40.
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First Person: My Kids Won’t Die in Debt to Credit Card CompaniesA new study shows the younger generation may actually die in debt to credit card companies. How I'm teaching my children to avoid credit card debt so they can have financial freedom.
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First Person: Purchasing a Home as a Single WomanSome women are afraid they will never get their man if they already own their own homes. Why I decided to become a homeowner as a single woman. Buying a home on my own was my best financial decision.
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First Person: 5 Advantages of Owning Our Home OutrightEven with a low interest rate, I can think of several advantages to owning our home outright. Why we are aggressively paying down our mortgage so we can be mortgage free as quickly as possible.
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First Person: I’ve Hit My Midlife Income PlateauFinancial experts say women are likely to hit an income plateau at age 37. How I'm saving for retirement and getting ahead even though my salary has hit a brick wall.
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First Person: Financial Lessons My Son in College Taught MeI thought I would teach my Millennial son a few things about money, but instead he showed me how to save money by living like a college student. My son is getting through college with no debt.
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First Person: Losing Weight Isn’t Costing Me Anything ExtraI have discovered my resolutions to lose weight and save more money are not in conflict with one another. How I am losing weight without spending any extra money.
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First person: Because I refinanced, I can quit my job in my 40sI never thought I would be completely out of debt before the age of 50, but refinancing is helping us pay off our house in our 40s. Because I refinanced, I can quit my job in my 40s because we will have no mortgage payment. -
First Person: I’m Neglecting My Retirement Accounts, and That's OKI've made the decision to neglect my retirement accounts in my 40s in favor of alternative ways to prepare for retirement. I'll be paying off my mortgage and investing in regular brokerage accounts.
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First Person: Housing Prices Can’t Rise Fast Enough for MeAs a homeowner who bought my house during the housing bubble, it annoys me when experts say housing values are rising too rapidly. Most of us still have not seen our homes appreciate since the housing bust.
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First Person: I’m Ready for Interest Rates to RiseAfter refinancing my home to an insanely low interest rate, I don't mind as much if interest rates start to rise. In fact, higher interest rates may give many people a better return on their money.
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First Person: Getting Out of Debt Cured My DepressionNew research shows the connection between credit card debt and depression. I have changed my thinking about good debt versus bad debt now that I know long-term debt won't have the same psychological effect.
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First Person: Money Buys Happiness When I Spend it RightNew research overturns past studies that show a person reaches optimal happiness at $75,000 a year. I find money does bring me happiness, but only if I spend it on experiences and people rather than things.
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First Person: Recovering From a Spending SpreeWe gave into our frugal fatigue by going on a shopping spree that included a new car purchase. How we adjusted our budget, refinanced our home and paid off our debt to deal with our spending spree.
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First Person: Financial Changes I’m Making for My ‘Future Self’A new tool by Merrill Edge allowed me to see what I will look like in the future so I could identify more with my future self. How getting in touch with my future self motivated me to save more and spend less.
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First Person: Financial Traps of Being a HomeownerI was too casual about buying my current house because of the housing boom. Now I know all about the different financial traps of being a homeowner, especially after buying at during a seller's market.
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First Person: I’d Only Buy a New HomeI only buy new construction homes because I think I can save more money over the long run. Experts say home building is up as more people try to buy while interest rates are so low.
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First Person: Our Retirement Planning Is ChangingI have had to be flexible about my retirement planning since I was hit by many financial surprises such as losing a company match to my 401(k) and equity in my home. How I found the silver lining.
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First Person: Is 50 the New 70?My plan for creating a ladder of different retirement and other savings vehicles that I can access starting at age 50. Why I may be able to retire as early as wealthy CEOS in the news who may be experiencing midlife professional burnout.
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First Person: My Neighborhood Is Still Feeling the Sting of ForeclosuresAlthough the housing market is recovering, it's won't be a meaningful recovery for us for at least another decade. Our Florida neighborhood is recovering extremely slowly from the foreclosure crisis.
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First Person: When Retired People Hit Their Own Debt CeilingYounger generations including Gen-X and Gen-Y will have to pick up the pieces as older Americans run up credit cards and do nothing about the rising national debt. A new study shows Baby Boomers are hitting their own debt ceilings.
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First Person: Overcoming My Credit Card DependenceHow I went from living on credit cards only to living on cash only. After getting out of credit debt at age 30, I've spent the last 10 years following several key rules so that I wouldn't need to depend on credit ever again.
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First Person: When Financial Gurus Step Over the LineI like to be entertained by personal finance experts and television personalities, but I don't take their advice. At times, I think they overstep their bounds by giving people inappropriate and sometimes foolish advice.
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First Person: Resisting the Temptation to Raid My 401(k)A new study show one in four workers raid their retirement accounts for non-retirement needs such as paying their credit cards and mortgages. How I resist the temptation to take money out of my 401(k).
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First Person: I Should Have Saved Cash in My 20sIf I could turn back the hands of time, I'd save cash instead of investing in stocks when I was in my 20s. After living through the dot.com bubble and the housing bubble, I wish I had a boat load of cash.
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First Person: I’m Paying Down My Mortgage Despite a Rock Bottom RateEven though I have a new mortgage loan at 2.75 percent, I'm still paying it off early. Why I am aggressively paying down my mortgage so I can be debt free by age 50.
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First Person: Best Financial Moves I Made as a TeenagerWhen I look back, I realize I made several key financial moves as a teenager that helped lay the foundation for my future. Now, I'm helping my own teenagers learn financial responsibility in the aftermath of the Great Recession.
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First Person: I Personalize My Accounts With Specific GoalsSome researchers say just labeling savings accounts with specific goals can result in saving 30 percent more. How I personalize my savings accounts so I'm motivated to stock away more money.
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First Person: I Don’t Chase After DealsI've been burned as a consumer by chasing after so-called deals and sales. Now I let the deals come to me by sticking to my shopping lists and buying only what I need even if it's full-price.
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First Person: My Smartest Financial Move in My 30sEven though we purchased a home during the housing bubble, I still think becoming a homeowner was my smartest financial move in my 30s. How we turned our negative equity into a solid investment. -
First Person: Preparing Our Home for the Rental MarketAfter having our home appraised, we decided it would be best to rent out rather than sell our house in the near future. How we are preparing our home for the competitive rental market in Florida.
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First Person: For Students, There’s an Upside to Cuts in Worker HoursI've noticed teenagers in my community are finally getting jobs. The fact that fast-food chains are cutting worker hours due to health care costs has a huge upside for students who want to work part-time while going to school.
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First Person: 'Keep Up With the Joneses' in Terms of RetirementA new survey of investors on peer comparison shows not everyone is motivated to save more just to keep up with the Joneses. Why I am using the so-called "compare me" financial tool to figure out how much I should save and spend.
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First Person: Ban on Risky Home Mortgages Limits OptionsEven though new bans on risky home mortgages are intended to protect some people, the bans could also hurt others. Why I think federal regulators should only educate rather than limit the different financing options such as interest-only loans.
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First Person: I’m Reining in My Spending After the Payroll Tax BiteEven though we are going to be more frugal after the payroll tax hike, I don't like to use the word "austerity." We will have less money for discretionary spending, but we are still fortunate to be living the American Dream.
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First Person: Increasing Our Home AppraisalOur home appraised at the high end, even though the high end is $53,000 less than we originally paid during the housing bubble. How I was able to boost the value of my home so I wouldn't have to pay PMI for a refinance.
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First Person: Retirement Planning After Losing a PensionI lost my pension after working for a company for less than 1 year. Since then, I had to max out a Roth IRA and contribute to a 401(k) so I could make it in retirement. Meanwhile, one of my close friends is counting on a pension check every month.
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First Person: How Our Net Worth Bounced BackHow we went from having negative net worth to a positive net worth of more than $150,000. Although the recession hit us hard with several pay cuts, we managed to stay out of debt and build up equity in our home.
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First Person: We're Saving Money on Valentine’s DayHow I save hundreds of dollars on Valentine's Day and birthdays by shopping at the right time and going old-school with homemade cupcakes and cards.
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First Person: How We Refinanced in Less Than 30 DaysEven though I had hear horror stories of people having to go through the refinance process multiple times, we were able to close on our refinance in less than 30 days. We landed a 2.75 percent interest rate on a 15-year loan.
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First Person: Ending Tax Deductions for Donations Hurts EveryonePoliticians are so desperate to solve the national debt problem that they are considering the unthinkable. Why I'd be upset if Washington decided to end the tax deductions for charitable donations.
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First Person: I'm Not Maxing Out My Retirement Account in 2013I would be more excited about the IRS increasing the contribution limits to the various retirement accounts if I had more money to save. With the end of the "tax holiday," I won't have the extra money I need to save for retirement.
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First Person: As a Gen-X Investor, I’m Stuck With StocksFinancial experts claimed the new normal would be pathetic returns on stock market investments. However, as a Generation X investor who has another 25 years to go before retirement, I reluctantly choose stocks.
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First Person: Why I’m Not Converting to a Roth 401(k)Although a new provision in the tax law would allow me to convert money in my regular 401(k) into a Roth 401(k), I can't take the tax hit. Why I rather have money in a Roth IRA.
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First Person: Will Housing Crash a Second Time?Hopefully new home buyers today aren't buying more house than they can afford. A recent uptick in new home construction shouldn't result in new wave for foreclosures if borrowers are responsible.
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First Person: A Mortgage at 2.75% Is a Game ChangerMost of us who wanted to refinance have taken advantage of the recent low interest rates. With rates as low as they are, it doesn't make as much sense to pay off my mortgage in my 40s.
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First Person: I’m Slashing My Household DebtI'm not sure if we are entering a new recession, but I don't plan to ring up any new debt in the New Year. How I'm slashing my household debt like many Americans. Household debt has fallen to the lowest level in 29 years.
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First Person: We Are Saving Up for a New Hybrid VehicleAlthough I thought I'd have more time to save up for a new car, my timeline has changed. Why we are saving up cash to purchase a new hybrid car that is fuel-efficient and safe for the environment.
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First Person: What We Are Paying to Refinance at 2.75%Spoiled by a free refinance two years ago, I was surprised by what a headache it is to refinance. We are spending more than $3,000 to refinance our home to a 2.75 percent interest rate, but it will be worth it.
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First Person: I Still Save With ‘The Latte Factor’I still believe in The Latte Factor, even though some financial experts say we have all been duped by such self-help personal finance advice. Why I choose to live below my means now so I can avoid the personal finance mistakes of baby boomers.
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First Person: Predicting What Will Cost More in 2013Experts predict the cost of cars, certain foods and electronics will rise in 2013. I'm making changes to my budget now so that I can manage higher prices when it comes to shipping, health care, beer and various other things.
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First Person: Money Moves I Put on Hold Until Landing a Full-Time JobEven though I made more money as an independent contractor, I discovered many financial advantages of having a full-time job that will help me become wealthy. I put off several key money moves until after I started a full-time job.
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First Person: My Mortgage Rate Went From 7% to 2.75% In 10 YearsI looked back at what I was paying for my mortgage 10 years ago when my interest rate was at 7 percent. How refinancing at 2.75 percent is reducing my finance charges by $100,000 compared to my first loan.
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First Person: My Credit Score Is Higher Than My Husband’sEven though my credit score is high, I decided to try to see if I could achieve a score of 850. How I was able to beat my husband's credit score and join the "800 club."
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First Person: Simplifying My Finances with a Financial FlowchartI'm starting the New Year off on the right foot by simplifying my finances. I used a financial planning flowchart to help me visualize what I needed to do to get my finances in order.
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First Person: When I Don’t Follow a Millionaire’s Financial AdviceJust because my friend is a millionaire doesn't mean I listen to all of his financial advice. In many cases, it doesn't make sense to fertilize an apple tree with orange tree fertilizer.
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First Person: Housing Predictions for 2013 Spooked MeHousing predictions for 2013 spooked me into refinancing. For me, it still doesn't seem to be a good time to sell or a good time to buy. My best option is to hunker down and take advantage of the lowest mortgage rates in history.
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First Person: Do I Have Healthy Debt?Some financial experts say student loan and mortgage debt is good debt, while credit card debt is evil. I give myself a financial checkup each year to figure out if I have only healthy debt.
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First Person: Why I’m Willing to Pay PMIAlthough I was reluctant to refinance, I decided it's better to pay private mortgage insurance than to lose out on a low interest rate. It turned out that paying PMI is not a deal breaker for me.
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First Person: 3 Bad Financial Habits I’m Overcoming Prior to RetiringInstead of depending on a cost-of-living adjustment to my Social Security, I hope to be financially independent in retirement. I'm overcoming 3 bad financial habits now so I can retire more comfortably.
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First Person: Outsmarting Retailers That Want Me to Spend MoreI keep out of credit card debt by being a defensive shopper who notices the tricks retailers employ to tempt me to overspend. By spending as little time as possible in a store, I find it easier to buy only what's on my list.
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First Person: I’m Not Suffering from Middle-Class Retirement DelusionDespite the warnings of some financial experts, I'm not going out of my way to save for retirement. I don't feel as though I'm suffering from middle-class retirement delusion by saving less than 20 percent of my income.
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First Person: How We Will Manage a $3,000 Tax Hike for the YearEven though I can't control what lawmakers do about tax policies and the "payroll tax holiday," I can adjust our budget to offset higher income taxes. How we plan to deal with an anticipated $3,000 annual tax hike.
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First Person: Why I Locked in a 15-Year Loan at 2.75 PercentBlame it on the fiscal cliff, but I started to feel as though it was urgent to refinance my mortgage. Why I decided to lock in a loan at a 2.75 percent rate by choosing to wait or pick a different term.
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First Person: I Paid a Price for Failing to BudgetIf I could turn back time, I'd spend less money on things I didn't need so I could avoid paying the price in terms of interest charges and other fees. I paid a price for failing to follow a spending and savings plan.
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First Person: I Pay Myself LastInstead of following the traditional financial advice to "pay yourself first," I found it works better if I pay myself last. Why I pay all of my bills first and make my purchases before setting money aside for retirement.
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First Person: 4 Financial Upsides of Suburban LivingWhen it comes to living in the suburbs, I can think of four major financial benefits. Even though I have lived in several different cities and towns through the years, I choose to retire in place in my Florida subdivision.
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First Person: Scrambling to Refinance Before the New YearWith rates on a 30-year fixed starting to edge up, I'm scrambling to refinance before the new year. Why I might consider an adjustable rate mortgage even though I swore I never would.
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First Person: Why I Should Buy Real Estate like My GrandparentsExperts say more consumers are buying homes like their Greatest Generation grandparents after emerging from one of the worst housing markets since the Great Depression. Why I should buy a home like my grandparent's home.
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First Person: Cutting Our Grocery Bill by 30% Without GardeningAlthough I still have far to go, I've managed to cut my high grocery bill down from $1,000 a month to $700 a month without gardening. My goal is to reduce my grocery bill by another 20 percent.
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First Person: 4 Surprise Costs That Skewed Our Budget PlanningBecause it's nearly impossible for us to anticipate all of the unexpected expenses in the new year, my husband and I plan to put aside 10 percent for surprise costs. How unexpected expenses can skew our financial planning.
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First Person: We Live Like We Have Only One IncomeEven though I live in a dual-income family, I pretend to be broke so we can save for the future. How we adjusted to living on one salary so we could live on less if we ever need to.
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First Person: Why We Don’t Claim the Mortgage DeductionI am skeptical about the fact that the mortgage deduction is really helping the middle class. According to data from the IRS, only a quarter of taxpayers take the deduction. In most cases, it's the rich who benefit.
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First Person: I'm Getting Over My Financial Cynicism Before RetirementWorried about global warming wiping me off the map, I'm not motivated to save for retirement. Some financial experts say baby boomers are the worst with money, but my Generation X is the most cynical.
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First Person: My Stay-Out-of-Debt Resolutions for New YearI'm planning to avoid the vicious debt cycle by having a financial buddy keep me accountable to my no-overspending plan for the new year. Paying off my debt won't be enough unless I avoid new debt in the new year.
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First Person: Breaking My Own Money RulesI used to believe in money rules such as investing for the long term and paying off a home before retirement. However, I've found it pays to bend the rules in certain circumstances.
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First Person: I’m Not Choosing a Middle-Class LifestyleIf living the middle-class lifestyle means I go on expensive family vacations, neglect my retirement savings and rent a house, I may choose a different path. Why I rather continue to live below my means even as my income rises.
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First Person: I Paid My $20,000 Student Loan Balance in Two YearsAfter carrying a student loan balance for 6 years, I got fed up with it. I decided to pay off my entire $20,000 balance in two years so I could be debt free by age 30.
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First Person: How I Overcame My Fear of ChildbirthA new study shows that women who receive group counseling to treat their intense fear of childbirth are less likely to opt for a c-section. How I overcame my fear of giving birth with the help of a midwife and therapy.