Solar panels are quite easy to come by – from major hardware stores to online suppliers and specialized businesses, upgrading to a solar life is generally within quick reach. Some companies specialize only in supplying solar panels, while others can assist with both the supply and installation. Thanks to the upfront installation cost of solar panels being unpleasantly high, many companies are now also assisting customers with financing options for their solar panels, to assist in affording the initial outlay. Generally, this form of finance will require a monthly repayment until the amount of the cost has been recovered. The good news, depending on where you live, is that solar installations are often eligible for tax rebates and other incentives that make the installation worthwhile. Grid-tied or off-grid – the considerations When you are planning your home solar panel installation, you will need to decide whether you will be going […]
3 Actionable Tips to Make you Financially Fit
Becoming financially fit, just like achieving a higher physical fitness level isn’t easy. It takes hard work, dedication, and granite-like discipline to make significant positive changes. The fact is – you need to put in the work. Period. But when you’ve got a ton of motivation and energy, but don’t know what to do with it, not only are you wasting your time… But you’re missing out on the potential for growing your personal wealth and boosting your net worth, too. And friends, that’s no good. That’s why, I’ve got Robbie here today to help get us on the right path. Take it away, Robbie! 3 Actionable Tips to Make you Financially Fit Hi everyone! I’m Robbie and I’m a personal finance blogger over at EAT Money and am really excited Mike has given me the opportunity to share some thoughts with you […]
“You’re Crazy to Have a Single Fund Portfolio…”
I saw a headline during my morning blog reading the other day that jumped out to me as ‘crazy talk’. I guess as far as the blogger is concerned, the headline worked – it grabbed my attention. But once I gave up the sacred click and dove into his post, I started thinking to myself that a single fund portfolio is reckless, at best. And at worst – catastrophic. “Investing in a single fund portfolio is just downright crazy,” was my stance Then all I had to was find the information to back up my claim… #ScienctificMethod As I researched and contemplated over the course of a few days, my data backed up my hypothesis. Not diversifying is dangerous. But on Research Day 3 – I noticed a scarlet letter forming on my chest “H” is for “Hypocrite”, Mike. Or “F” […]
The Complete Ally Bank Review – Is It Right For You??
About 4 months ago I posed the question, “Is it Crazy to Switch to Ally Bank… Exclusively?” Well, as it turns out, making the switch to Ally wasn’t crazy – it just brought with it some new adventures. Some good, one bad, and a few unexpected. So today I’m here to download my complete Ally Bank review so that you can determine if it’s right for your personal finances. The Complete Ally Bank Review – Is It Right For You?? To make sure my Ally Bank review is fair and impartial, I listed the following pros and cons exactly as they appeared in my head. Also, no brick and mortar banks were harmed in the writing of this review. [SPOILER] – I’m really glad we made the switch, but there’s one issue I’d like to change. Let’s dive in! Pro – I love the […]
Crazy Yield Curve, Scary Recession, and How They Matter to You
Today we’ll cover the current economic conditions, what they mean in the grand scheme regarding the next recession, and how they have the ability to impact your personal bottom line. Oh, how the economic indicators are signaling the next recession Alarm bells, sirens… you know the drill. All signs are pointing toward a recession, and unlike a year ago, now we have some estimate on when the next recession will hit. But first, the indicators: The Yield Curve – here’s what normal looks like The yield curve shows you that when you loan money to the U.S. Government (via buying Treasury bonds), what interest rate you should expect to receive based on how long the term of your bond is. In the example above, if you buy a 5-year bond, you should expect a 2.9-ish% interest rate. The curve almost always slopes […]
My Best job; My Worst Job – and What I Learned From Each
…Server, landscaper, men’s fragrance salesman, dock worker, restaurant expediter, ballpark vendor, childhood entrepreneur, big kid (adult) entrepreneur, quality supervisor, grad student researcher (I know it’s not really a job but it was – at times – incredibly fun work), teaching assistant, forensic scientist, restaurant host, laboratory technician, auditing manager, telemarketer, training director, and now CEO. These are all positions I’ve held at one time, and if we’re playing former job BINGO, as a 32-year-old, I like my chances… (Photo courtesy of MKulp Photography) What’s more, reflecting back on all of these opportunities a couple of things come to mind first: I’m lucky to have had so many vast experiences across so many industries, and I really didn’t have any idea what I wanted to do with my life, did I? The good news for me and the fam’ is that I have a pretty solid handle on […]
What is a Reverse Mortgage, and is it Right for You?
Still asking, “What is a reverse mortgage?” Well, so was I… I’ve seen the commercials, and while Tom Selleck’s mustache is ‘on point’, does he actually have any clue what he’s talking about? It always gets me seeing these wealthy actors trying to relate to “the common American” as they discuss the financial decisions “all of us have to make”… I mean, c’mon, Tom – we all know you’ve been on either Magnum PI or Blue Bloods for the past 45-ish years. Don’t come at me trying to make us think you’ve actually considered a reverse mortgage, let alone actually know what one is and how it works. But that mustache… Any man with that capability surely has at least some of his ducks in a row. So while I honestly had no clue what a reverse mortgage is, I had to enlist some guest posting help. Melissa […]
Science Explains Why the Debt Snowball Will Make you Debt Free
I was an early adopter (in my peer group) of Dave Ramsey and his snowball method some 10 years ago. My wife and I were just two kids – young and in love – and like most young couples in 2008, we had what we thought was a ton of debt… Little did we know the actual mountain of debt that would await us just a few short years later (but that’s not completely relevant here) ;). So when I rented the Total Money Makeover and took it with us on a vacation to Mexico (are you seeing the irony here???), Dave’s book changed our lives for the better when, financially speaking, we were at a major fork in the road. Until now, I never really sat down to analyze why the Total Money Makeover worked for us, I just knew that it did (and for many […]
Can You Buy a House And Have Student Loan Debt…?
Baby I’m a rebel… Soul Rebel. What I mean to say is that I don’t mind bucking a few trends or commonly held beliefs from time to time. One of those bucked trends was us buying our home while already under a mountain of student loan debt. We had our reasons and we wouldn’t change that decision if we had the opportunity to, but many others would strongly advise against such a choice. For example, trying to decide between paying off the mortgage early or investing – I can see both sides. Same goes for buying a new car vs. leasing… I hear both arguments. Although late car payments are becoming a frightening trend these days. In any case, there’s an argument to be made. And today’s battle is no different. My friend, the Debt Free Dr. is here to give us all the […]
When Income Driven Repayment is the Option for You and Why
I remember the months leading up to Monica starting dental school like it was just a few weeks ago. We had textbooks to buy, an apartment to lease, car payments to make, and a class schedule to adjust to. One thing we didn’t have – the money to pay for it all. So when we started looking at the various options and terms surrounding student loans (i.e. federal loans, university loans, private loans, fixed rates, loan forgiveness, income driven repayment, etc.) my head started spinning and I wept for our negative net worth and the mountain of debt we began incurring. At that point, we had no idea what a ‘reasonable’ interest rate was, the perils or benefits of refinancing our original loans, or how long and to what amplitude these loans would impact our lives. To say we were overwhelmed was the understatement of the century. […]