It’s often said that money can’t buy happiness, but new research suggests a twist: It’s how you spend it that matters. At least that’s the contention of Elizabeth Dunn, Daniel Gilbert and Timothy Wilson in their Journal of Consumer Psychology paper, “If money doesn’t make you happy, then you probably aren’t spending it right.” The [...]
Private mortgage insurance, or PMI, can be a large new expense for homebuyers to take on each month. Fortunately, there are ways to avoid paying for PMI. If homebuyers are able to invest enough equity in their property, private mortgage insurance will not be required by the lender. If homebuyers put at least 20 percent [...]
Giving your kitchen a facelift is always a popular remodeling project but these top five kitchen renovation trends are a good investment if you’re planning to sell your home. Buyers want a kitchen that fits their lifestyle so you should make sure your kitchen is up-to-date. In the 2013 Cost vs. Value Report, produced by [...]
The 2014 tax filing season is here, and you may be scrambling to gather the correct paperwork—especially if you were disorganized with your record keeping in 2013. To ensure that you’re prepared before you head to your tax pro’s office or open your tax preparation software, review the list below and start collecting your paperwork [...]
The IRS will collect taxes on forgiven or cancelled mortgage debt but distressed homeowners may pay less than the full amount if they file correctly. When the bank forgives your mortgage debt, sells your home in a short sale or repossesses it with a deed in lieu of foreclosure, you no longer owe the mortgage [...]
Bill Nemeth, Merry Brodie and Chet Burgess joined Ilyce to discuss this year's tax filing season on the Ilyce Glink Show on February 23, 2014 on WSB Radio. Ilyce's show always contains various forms of personal finance advice but she invited three engaged and intelligent professionals to give tips and advice on tax filing this year. These [...]
People who have a financial plan build roughly 20 percent more wealth over their lifetimes than people who don’t. That's according to a National Bureau of Economic Research study, “Wealth Accumulation and the Propensity to Plan.” If you have a budget, it gets even better. For households making between $50,000 and $750,000—quite a wide range—budgeting [...]
There’s a lot to be said for simplicity, especially when it comes to your household budget. Micromanaging your money can get messy, and if you’re not careful, you’ll wind up over-budgeting and driving yourself crazy. Our family keeps a pretty detailed monthly spending plan. We’ve used Quicken software to track it in the past, and [...]
If retirement is on your radar for 2014, it’s important to start preparing to leave the workforce. Retirement is sweet, but it can quickly turn sour if you find yourself bored or, worse yet, on the verge of outliving your retirement savings. To help you ease into retirement, here are three retirement tips you might [...]
Making a low-ball bid can be risky, but if your dream home is out of your price range, it might be your only chance of owning it. There are ways to make your low-ball bid attractive to the seller and real estate broker, not offensive. Present the offer well and sellers could be enticed to [...]
