Why I Gave Up Budgeting

I have a confession of sorts – I hate budgeting.  Well, I shouldn’t say that.  I do enjoy planning and developing a budget; I’m just terrible at following them. So I quit budgets. It really is freeing to give up tracking every expenditure.  I spend a lot less time now updating spreadsheets and Mint and other tracking sites. We do …

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Is Leasing a Car a Good Idea?

Have you ever heard a financial guru suggest leasing a car is a good idea?  Me neither. And they may be right, but like most financial axioms there should be attached a disclaimer:  it depends. Fans of car leases will tell you they get to drive a new car every two years.  That aspect of leasing appeals to me, too, …

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Forget Everything You Learned About Emergency Funds

It’s an age-old question in personal finances:  How big should my emergency fund be? The answer should be there is no answer.   The size of your emergency fund is a function of your personal situation, family status, employment stability, etc. However, there is no shortage of “financial gurus” who are quick to share a hard/fast rule such as: Save …

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Why a 30 Year Mortgage is Better

Some financial gurus out there make a valid point about mortgages – 15-year mortgages always pay off in…15 years.  So you may be considering why a 30-year mortgage is better in most cases. It all has to do with risk and protecting your monthly cash flow. 15-Year Mortgage Versus 30-Year Mortgage It is true that in almost all cases a …

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Taking a Part-Time Job To Pay Off Debt

Over the last few months our family has been operating a little like Congress – that is, we have been spending more than we earn.  It’s time to clean this up with some income from a part-time job. We had a few unfortunate medical mishaps which added insult to literal injury, depleting a good bit of our emergency fund and …

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