Renting vs. Buying – Which is the Better Option?

Renting or buying a home is a debate that can go on forever. Some feel it is not wise to purchase a home and get tied down financially while others support the notion that renting places endlessly is not a smart decision in the long run, especially if you have a family to support.

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Is Refinancing a Good Idea?

Under normal circumstances, we would like to purchase everything with cash and not get into the complexities of credit. However, the world of finance doesn’t work like that and you have to deal with credit at some point or the other. You have to know about the market trends so that you can take advantage when interest rates are low by making lucrative investments that give good returns.

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Tips to Reduce Credit Card Debts

Paying off your credit card debt can be a huge problem especially after the balance on the card increases greatly. This is a common problem that is faced by many nowadays. A fast-paced lifestyle and extravagant habit often makes us spend more than we can afford to, and it ends up accumulating till our head is under the water!

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Saving a million dollars is possible if you start young and spend and save wisely.

• Most people fail to realize that a slight cut-back in their spending habits can be beneficial in the long run. From this point onwards, think hard about every purchase made by you. Impulse buying is one of the worst things you can do, so if you are in the habit of purchasing items on a whim, you have to work on that. Jot down what you need and refrain from buying anything that isn’t included in the list. Even if the item is being offered at a substantial discount, don’t buy it! It might be tough to resist at first, but the small savings will add up later.
• All of us get the desire to spend some cash, especially at the beginning of the month when we receive our salary. However, you should cut down on spontaneous spending since it is extravagant and wasteful. The main problem lies in the fact that while spending, you will not understand that you are indulging in expensive habits and when you finally realize, it is too late and you are out of several thousand dollars! Cut back on eating out, reduce going out for drinks with friends, save money on petrol by not using your car unless absolutely necessary – it will make a difference eventually.
• Open a savings account that is not connected to other savings and checking accounts. Make use of grocery coupons wherever you can and when you go out to restaurants, utilize coupons over there as well. Coupons are now available with all kinds of deals, so getting them isn’t that difficult. Every month, take the face value of these and put the amount in that separate savings account and don’t touch it. Continue pooling in money as long as you can make effective use of coupons.

Still having problems when it comes to savings? Keep in mind that a million dollars can’t be saved in a few months – you need to give it time and have some patience. Meanwhile, this calculator can guide you about efficiently saving some cash from your monthly expenditures.

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How to Invest in Dividends

 Looking for a solid investment tool? Before you venture into the market, you will be given a lot of advice – some of it will be helpful, while others will misguide you. Don’t follow guidelines blindly, because it is important you understand them first. [Read more…] about What is my investment yield?

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