The Simple Dollar

Simple, applicable personal finance advice for the modern world.

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Latest Posts from The Simple Dollar (page 5)

Clearlane Auto Refinance Review

Clearlane, an online auto lending platform that’s powered by Ally Bank, offers auto loan refinancing and lease buyout options for borrowers with nearly any type of credit score. They do so by utilizing a nationwide finance network and offering fast and easy online quotes. […]

The Seven Factors: Behaviors That Lead to Wealth

In the book The Millionaire Next Door, the authors Thomas Stanley and William Danko surveyed more than a thousand households that had accumulated more than a million dollars in net worth, looking for traits among them that were decidedly different than the mainstream population. […]

Don’t Make These Seven Car Insurance Mistakes

When it comes to shopping wisely for a car insurance policy, perhaps the number one rule to keep in mind is the age-old adage about not being a penny wise and a pound foolish. Cliched as that expression may be, buying too little coverage is one of the consumer mistakes most frequently cited by insurance professionals. Unfortunately, it’s just one of the many things consumers do wrong when shopping […]

Questions About Child Rearing Costs, Laundry Services, Unused Media, Aldi, and More!

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to summaries of five or fewer words. Click on the number to jump straight down to the question. 1. $250K to raise a kid? 2. Long term care? 3. $20 bill budgeting 4. Expense of laundry service 5. Backlog of unused media 6. 403(b) risky? 7. Cheap or expensive bag? 8. Thoughts on Aldi 9. […]

Some Further Thoughts on the One-Bag Challenge

Jeremy writes in: My group of friends has been kicking around an idea and I wanted to get your take on it. Let’s say you had to live out of a suitcase or a big duffel bag permanently. That’s all the possessions you could own. What would be in that bag and why? I actually wrote about this a few years ago when I discussed a month-long period where I did this as a 30-day challenge. […]

Is a Gap Year Better Financially Than Going Straight to College?

Nathan writes in: I am entering my senior year in high school next fall. My parents want me to go to college in the fall right after graduation. They have some savings for me but I will have to add some student loans. I want to take a gap year or two and work full time. I would put that money aside for college and figure out what I want to do because I don’t know what I want to study. […]

The Million Dollar Question

What would you do if you had a million dollars? This question seems to come up regularly as a conversation starter. I’ve found that the answers tend to fall into two groups. In one group, you tend to have answers that involve radical life changes. […]

Some Thoughts on the Cost of Eating Out

A few weeks ago, I found myself in a situation where I was really hungry but there weren’t many food options around. I decided to keep my costs as low as possible, so I went into the only restaurant I could find, a nice little diner. I want to be clear during this article that I am not picking on this diner. […]

Adjustable-Rate Mortgages Are Making a Comeback – Is That a Good or Bad Thing?

Years after their fall from grace amid the subprime mortgage crisis, adjustable-rate mortgages (ARMs) are making a steady march back toward the mainstream. According to a December 2018 report from Ellie Mae, a software company that process mortgages, the percentage of home purchases that used adjustable-rate mortgages ticked up to 9.2%. […]

Think. Wait. Fast.

“Everyone can perform magic, everyone can reach his goals, if he is able to think, if he is able to wait, if he is able to fast.” — Siddhartha, Hermann Hesse My high school English teacher passed away several years ago. Before he passed, I had the chance to tell him that he had a profound impact on my life. […]