April 14, 2013

Examining Two Credit Card Repayment Strategies

Kim writes in: My dad told me that the best way to pay off a credit card is to pay it all off at once so I have been saving up the money to do that. My boyfriend argues with that saying that the best way to do it is to make the biggest possible payment each month. Who is right? Your boyfriend’s plan is better in a very straightforward sense. […]

Pay Off a Mortgage Early, Affording a Smartphone, and JCPenney’s Gimmick

A few times a month, Lance from Money Life and More will stop by to share some of the best articles from across a variety of publications, including other blogs and mainstream media. I am excited to be starting a new series here on Consumerism Commentary! The goal of my new series is to share articles I’ve read over the last week or two that I feel deserved a second look. […]

Where Does 7% Come From When It Comes to Long-Term Stock Returns?

Whenever I talk about investing in stocks, I usually suggest that you can earn a 7% annual return on average. That percentage is based on a few assumptions. First, I’m assuming that you’re investing for longer than ten years. That’s because in a given year, the stock market is very volatile. Some years see an enormous dip in the stock market, like 2008, when many investments saw a 40% loss. […]

Mortgage Payoff Progress End Of March 2013 With Chart

My wife an I are working hard to achieve our goal of paying off our mortgage early. As of April  2013, my wife and I will have lived in our home for 3 years and 1 month. We have a conventional, fixed-rate, 15-year mortgage. Our goal is to pay off our mortgage in less than ten total years. As of April 1, 2013, we will have made 37 regular, monthly mortgage payments. We have also made several additi […]

Are there any safe investments?

This guest post is from William Cowie, who has contributed to Get Rich Slowly and other personal finance blogs. He also blogs about investing and offers a free Investing Basics course on Bite the Bullet Investing. Earlier this month our readers were asked, regarding your personal financial journey: “What is the next step?” The answer J.D. offered in his 2009 article was… investing. Why invest? […]

Servant to the Lender

For those of you new to Free Money Finance, I post on The Bible and Money every Sunday. Here's why. Today I'm posting Proverbs 22:7, a verse that talks about the impact of being in debt. […]