When my wife and I were home shopping for our very first home, one of the biggest fears we had was that nearly every home we saw needed some sort of repair or a huge makeover! Back track to 2 … Continue reading 8 Ways To Pay For Your Home Projects
One of the greatest things about owning a home is that you are building your net worth! Many American households take advantage of this worth and equity via a home equity line of credit (most referred as HELOC) or a … Continue reading Home Equity Line Of Credit vs Home Equity Loan
Hey everyone, Thanks for following our blog and for being an awesome supporter! I’m writing to let you know of an update and some changes. We are transitioning FinancialFluency.org to MoneyQlip.com and here’s why: Over the past 2 months, Vania and I have been working with a team of designers and engineers to develop a really cool product! We are projecting this product to be in market in 8-12 months. As you may know, financial literacy in this country is only at 57% and we are focused on creating a solution for the remaining 43% of the population. That is why MoneyQlip … Continue reading Update About Our Blog
I’ve heard many folks complain about their PMI and how it increases their monthly payments by $100 – $150. With some folks, it’s like the PMI has a bad rep. I think what they forget is that the PMI has … Continue reading PMI May Be The Reason You Are Getting Your Home!
My wife and I are about to enter the mortgage refinance market because we want to get rid of our private mortgage insurance (PMI). What gives us confidence in entering this market is the rate of growth in our equity, … Continue reading 5 Reasons To Refinance
You’ve found the home or your about to get started with your search but you are in the “crunching the numbers” phase and the question arises, should we pick a 15 or 30 year fixed mortgage? Well, there’s a lot … Continue reading 6 Things To Consider Between A 15 and 30 Year Mortgage
Whether you are a first time home buyer or you’re a pro at purchasing homes, your credit score will always influence your mortgage interest rate. As you know, your mortgage payments have 4 components to it and interest is one … Continue reading Keep A Close Eye On Your Credit Score…It Can Make Your Mortgage Very Costly
You may have heard or read from financial advisers and other blogs that your monthly rent/mortgage payments should be less than 30% of your monthly net income. This is great advice! Before you fall in love with the home or … Continue reading Don’t Fall In Love With The Home If It Costs Over 30% Of Your Monthly Net Income
The economy has bounced back since the ’08 economic crisis and one of the best indicators is the housing market. According to Zillow.com, the average home value has gone up by 7.4% in the United States. However, if you live … Continue reading Mortgage Programs and Grants For Public Servants, Including Teachers
If you’re in the market as a first time home buyer, this is one of the most intimidating and confusing experiences you could have if you haven’t done proper research. I can tell you that when we first purchased our … Continue reading Your First Time Home Buyer Checklist
Currently, I’m a home owner and I used to be a renter for many years. I’m not going to lie, there is plenty that I miss about renting an apartment. After you’ve removed and installed your own toilets, assembled 3 … Continue reading Buy Or Rent?
There is no secret sauce to managing your debt. If you have been following my posts this month, I have focused on debt management and I have written many tips, best practices and strategies I have personally used in my … Continue reading What It Takes To Become Debt Free
Let me be clear up front, bankruptcy should literally be the LAST resort. However, when it comes to debt management and the debt crisis that exists in America, this is a real conversation many families are having. Before you consider … Continue reading Is Personal Bankruptcy 100% Forgiveness? Not exactly…
Truth be told, the facts and statistics I found related to this are disheartening. It makes me think about the political climate in our country, the ridiculous medical costs, and wonder why we are falling behind other developed countries in … Continue reading Unfortunately, This Is The #1 Reason For Personal Bankruptcy In America
This past week I was chatting with one of FinancialFluency’s followers and asked him for suggestions about a future topic he’d like for me to cover. He shared that he has credit card debt he’d like to payoff as fast … Continue reading How An Extra $50 Monthly Can Save You Thousands!
I’m sure that many of you have thought “WTF” when you saw the pathetic interest you earned from keeping your savings at your brick and mortar bank…this has been my thought for quite some time. Well, a couple of weeks … Continue reading I Ditched My Traditional Savings Account and Made 2,818% More The Next Month
Getting calls from your lenders and debt collectors is probably one of the most annoying experiences. I can say this because I personally experienced it once with a medical bill in college about 5-6 years ago. In general, our first … Continue reading Tips On How You Can NEGOTIATE With Your Lenders And Debt Collectors
Don’t overlook a balance transfer. If you have credit card debt and are paying a ridiculous amount of interest this is actually a good strategy that could save you hundreds of dollars! A balance transfer is simple…you use the credit … Continue reading What Is A Balance Transfer? Should I Consider It?
Before I started to write this post, I gave myself some time to really think about this one…I couldn’t think of 1 good reason to keep my cable TV at an additional $100/month, including the rental of 2 cable boxes! … Continue reading We’re Saving $1,000/year By Cutting Our Cable TV
Just like many of you, I’ve got student loans to pay. Between my wife and I we owe about $140,000 (we both have bachelors and masters degrees). I owe $100,000 and she owes $40,000. Our repayment calculations are a joke. … Continue reading Damn…My Student Loans Deferment Just Ended And I Owe $140,000!!!
Debt sucks. I know. Sometimes it feels like quick sand! You’re making progress by paying on time, paying the minimum payments and then the interest rates keep increasing your balance and you can’t seem to get a grip on it. … Continue reading Not All Debts Are Created Equal
Managing debt is no easy or fun task. Becoming debt free and achieving financial freedom is the ultimate goal, right? Set realistic expectations for yourself because this will be a long and steep climb, but don’t become overwhelmed! Your … Continue reading Debt Doesn’t Define You
Over the past couple of weeks, I’ve talked to many friends and followers about their financial progress and their new goals. Having the conversation and recognizing the need to adjust your lifestyle and finances is a great start, but it … Continue reading How To Stay Accountable To Your Financial Goals
I’ve been in Florida for 12 years and coffee is a daily ritual. Even if I tried to cut coffee it isn’t an easy task because my wife is Cuban. Since I’ve been introduced to Cuban coffee, it has opened … Continue reading Here’s How You Can Still Drink 2 Cups Of Coffee A Day AND Save Money!
I’m embarrassed to share this, but there is a strong savings and budgeting lesson here from personal experience. So, here I go… Late last year, my lovely wife introduced me to UberEats. I didn’t find too much value in it … Continue reading UberEats Is Killing My Budget
You may want to serve yourself a glass of wine for this one…Lately, I’ve been speaking to many of my millennial friends who are engaged, married, or see themselves marrying their boyfriend/girlfriend and we have talked about their personal financial … Continue reading Opinion: You Should Have Joint Goals And Joint Bank Accounts
As I grew to understand the importance of saving and the type of safety net this creates for my family and I, I’ve become more strategic with my methods and how I am prioritizing the purpose of every dollar that … Continue reading 5 Ways To Prioritize Your Savings Goals
Setting the path and having the vision towards financial well-being always starts with a budget. So once you’ve got that done lets talk about the actual accountability, discipline, and follow through that is required. Oh…you mean to say there is … Continue reading 6 Tips To Track Your Spending
First thing is first, you don’t want to stash your cash in your mattress, bury it in your backyard, or keep it in a safe. There are many financial vehicles that provide secure methods to keep your emergency fund. Your … Continue reading Stop Stashing Your Savings In The Mattress!
You may have heard that having an emergency fund is extremely important for your financial well-being. I’d like to reaffirm the statement because it is crucial to have a sense of security. Your emergency fund should have between 3-6 months … Continue reading 7 Steps To Build Your Emergency Fund
Your savings goals are personal and they may change over time. But in order to save, you’ve got to begin budgeting and live below your means. They come hand in hand. Mano y mano. Start off by calculating your … Continue reading Budgeting & Saving
Your credit score is generated by the information provided in your credit report. Don’t accept your credit score for its face value. Roll up your sleeves and take a deep dive into your credit report. Be on the look out … Continue reading Take A Deep Dive Into Your Credit Report
Did you know that there are 4 very specific laws that provide guidelines and procedures for lenders and that expand your protections? Safeguarding your credit and financial life is extremely important and, unfortunately, there are many negligent institutions that cross … Continue reading You Have Credit Rights!
Right now is probably one of the best times to be a consumer in the credit card market! Why? Because all of the lenders are pouring millions of dollars to develop strong products and to offer premium rewards in order to … Continue reading Are You Stuck Trying To Find A Credit Card?
Your credit score is one of the most important financial numbers associated to your name. If your confidence is low because your score is poor or average, don’t let yourself become defeated and don’t give up. Only YOU can directly … Continue reading My Credit Score Increased By 100 points Within 1 Year
Our identities are at risk every single day. Fraud is a scary thought because you never know when it will occur. Think about this for a second…our cell phone providers, insurance companies, banks, employers, etc. store our personal information in their … Continue reading Reduce Your Risk of Fraud
Managing your credit score seems extremely complicated. It’s going up and down every single month and every time you get your free credit reports and scores, the numbers between the 3 bureaus don’t even match! If these are your thoughts … Continue reading What Exactly Is A Credit Score?
Once you have adjusted your strategy and have given your credit cards a new purpose to compliment your financial goals, it’s important to know that there … Continue reading Charge Cards vs. Credit Cards
This past week I read the 2015 Economic Well Being of U.S. Households report and it has revealed astonishing statistics about the state of personal finances in this country. While I’m aware and sensitive to the fact that economic conditions affects each … Continue reading There Is Urgency for Financial Literacy
What I’m about to share with you is something no bank will advise or admit. Don’t get trapped paying them interest and depending on them to survive with your financial life! They LOVE when you revolve your credit balances because … Continue reading How To Leverage Credit Cards
At a high level, businesses want to receive their cash as fast as possible and extend their payables as far out as possible. Why? Because it supports strong cash flow for their operational costs. Think of your household and personal … Continue reading Optimizing Your Cash Flow
If your answer to the question in the title is ‘YES’ or you’re not even sure what an emergency fund is, I’m glad you’re here! An emergency fund or rainy day fund is given its name for a reason…it’s cash that … Continue reading Is Your Emergency Fund In Shambles?
After learning about the 3 Financial Principles (Live Below Your Means, Prepare for the Hurdles, and Invest in Your Future) lets tackle the first and one … Continue reading Lets Create Your Budget
Are you prepared to set financials goals at this moment? You probably don’t even know where to begin. It’s okay…take a breath and don’t get overwhelmed. If managing money and understanding finances is not your strength, I will guide you … Continue reading 3 Financial Principles