From mortgages to credit cards, investing your money, and minimizing your taxes, we cover it all.
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272
(3 votes, average 5.00 out of 5)
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Personal Finance -
Education
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Written by Omie Ismail
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Wednesday, 10 March 2010 08:13 |
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If you want to move ahead financially and stay ahead for life, there are a few major financial decisions that you need to nail down and the sooner you get them right, the more likely they will make a huge difference in your life style. Here are 5 major finanicial moves that you can make that will give you a leg up for the rest of your life:
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Read more: 5 Big Financial Tips to Set You Straight in Life
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271
(3 votes, average 5.00 out of 5)
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Personal Finance -
Credit Cards
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Written by Omie Ismail
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Tuesday, 09 March 2010 11:12 |
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A question from LiveCheap reader J E: "I have a $20,000+ loan currently at 17.99% interest rate for 55 months and I am considering refinancing it with a peer-to-peer lender at 11% plus a $500 origination fee for 36 months. The payment on the new loan will be $681 vs $570 on the old loan. I am leery of peer-to-peer lending. I am a nurse with plenty of opportunity for overtime and I plan on at least paying double the payment, if not $800 or more. Can you tell me anything about peer-to-peer lending and whether I can trust them?"
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Read more: Does Refinancing Into a Peer-to-Peer Loan Make Sense?
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269
(3 votes, average 4.67 out of 5)
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Personal Finance -
Investing
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Written by Omie Ismail
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Friday, 05 March 2010 02:29 |
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There are many theories about why markets go up and down and become dramatically overvalued or undervalued. There are cycles of greed followed by fear that often explain the huge variations in valuation. Take for instance the recent boom and collosal bust in housing. While academics tried to explain housing price increases based on demographic factors, we all know that the "jump on the bandwagon" factor and greed had far more to do with it. And only irrational fear can explain why massive government incentives, low interest rates and decade-low prices have failed to stem the decline in housing prices.
Why are so many people who where frozen out of the housing market during the bubble still sitting on the sidelines rather than doing a few logical calculations on the cost of owning versus renting. One theory I like is what's refered to as the "Strong Hands - Weak Hands" view of the market that became popular during the 1930s stock market crash. If you understand the theory, you'll understand why most of the gibberish that you hear on CNBC and other mass media outlets is dead wrong.
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Read more: Strong Hands, Weak Hands: Live Cheap to Be Strong
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267
(4 votes, average 5.00 out of 5)
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Personal Finance -
Taxes
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Written by Omie Ismail
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Tuesday, 02 March 2010 02:54 |
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One of the key problems with coming to terms with our huge national debt - which is now over $12 trillion dollars - is that most people can't fathom it. A trillion is such a big number that nobody can really get their arms around it. And we have 12 of those trillions in debt. Here are 7 ways of visualizing the national debt to give you insight into how obscenely large it is.
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Read more: The National Debt: 7 Different Ways to Visualize How Big it Is
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266
(4 votes, average 4.75 out of 5)
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Personal Finance -
Education
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Written by livecheap staff
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Monday, 01 March 2010 02:54 |
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When you are poor, managing your expenses is fairly easy. If you don't have money, it's hard to justify buying anything non-essential. Lack of money breeds a mentality of cheap living out of necessity. But as your household income grows, your ability to spend on non-essentials grows with it. How many people have seen their income double over five to ten years but have nothing to show for it?
The problem is that as income increases, our mindset changes. We begin to think we are wealthier and our tastes and expenses undermine our income progress. Over years, we develop a sense of entitlement from thousands of hours of hard work. After all, we earned it, didn't we?
But it's that sense of entitlement that keeps us from becoming wealthy. If you want to get rich, you have to mentally act as if you are poor, even if you are a long way from that. Here's five assumptions you can make that will help you build wealth by curtailing your expenditures.
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Read more: 5 Ways to Act Poor and Build Wealth
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