Archive for January, 2008

Debt

By Linda Leitz - Last updated: Monday, January 28, 2008

There’s good debt and bad debt.  Good debt can allow you to acquire an asset with financial advantages more quickly than you could have enough cash saved up to pay for it.  Lots of the common forms of good debt give you a tax break.  Mortgages and many student loans are good examples.  Even a […]

Buying a House

By Linda Leitz - Last updated: Thursday, January 24, 2008

Owning a home is part of the American Dream.  There are some great financial reasons for owning a home.  For many people, having their own house gives them a greater sense of security and control over their lives than renting a home.  Over long periods of time, homes have increased in value.  This adds to […]

Funding Pensions

By Linda Leitz - Last updated: Monday, January 21, 2008

As you’re saving, you’ll also want to put money into retirement accounts.  Even if you don’t have all your liquid reserves filled up, it’s good to start socking money into retirement accounts as soon as you get your first “real” job.  The earlier you start saving for retirement, the more the money can grow over […]

Liquidity

By Linda Leitz - Last updated: Thursday, January 17, 2008

Once you get into the habit of spending less than you make, you’ll need to decide what to do with some of the money you’re not spending.  It’s common for money that you can access pretty quickly to be referred to as liquid.  So when people refer to financial liquidity or liquid reserves, they’re talking […]

Saving 10%

By Linda Leitz - Last updated: Monday, January 14, 2008

First, get your cash flow under control.  Whatever your income is -  before taxes and other deductions -  save 10% of that amount from every paycheck.  There are lots of different places to put the money that you save.  In fact, the other Fundamentals of Fiscal Fitness fold right into this one.  Whatever it is […]

Fiscal Fitness

By Linda Leitz - Last updated: Thursday, January 10, 2008

There are some basics concepts that just about everyone should live with in terms of the finances.  These ideas as I’ll put them forth here are part of the philosophy of the Alliance of Cambridge Advisors.  (If you’re looking for an ethical capable financial advisor in your area, www.cambridgeadvisors.com is a great place to look.)  […]

It’s A Wonderful Life

By Linda Leitz - Last updated: Monday, January 7, 2008

Imagine that you were suddenly gone from this earth tomorrow and a stranger was tasked with reviewing and closing out your finances.  What would that person learn about you?  Would they know that you have a big house?  An expensive car?  Drink lots of fancy coffees?  Spent more than you made?  Or would they see […]

Looking at Next Year

By Linda Leitz - Last updated: Tuesday, January 1, 2008

Now that you’ve looked at where you’ve been financially in the past year and you’ve seen how you did on some financial basics, it’s time to look toward a financially responsible future.    On the areas where you spent more than you believe you should have, make a spending plan for those items for the […]