Expert advice, practical tips, and actionable strategies to help you achieve financial freedom.
Page 42 of 74
Showing 739-756 of 1325 articles
← Back to all articles
Look for dividend yields of 2-4% with consistent dividend growth of 3-5% annually. Companies with 25+ years of consecutive dividend increases (Dividend Aristocrats) are ideal for DRIP. Avoid very h...
Read moreDIY is usually cheaper out of pocket, but once you price your time, complex projects can be more expensive. Use the tool’s break‑even hourly rate—if your time is worth more than that number, hire a...
Read moreBeginner‑friendly, low‑risk tasks with high savings: interior painting, landscaping, simple light fixtures (breaker off), faucet/toilet swaps, laminate flooring, and backsplashes.
Read moreElectrical panel/circuits, gas lines, structural changes, major plumbing, HVAC installs, and roof work. These carry safety, code, or high damage risks that outweigh potential savings.
Read moreEstimate materials + tools + your hours × hourly value. Compare to the quote and compute the effective hourly rate saved by DIY. If it’s lower than your target hourly value, hiring is rational.
Read moreNon‑financial benefits matter. If you enjoy the work and the risk is low, a modest financial disadvantage may still be worth it—as long as safety and quality aren’t compromised.
Read moreConventional loans often require 3%–20% down. A 20% down payment avoids PMI; for a $400,000 home, that’s $80,000. Many first‑time buyers use 5%–10% ($20,000–$40,000 on $400,000).
Read moreDivide your target by monthly contributions plus estimated interest. For example, saving $1,000/month at 3.5% APY toward a $40,000 goal takes roughly 3.1–3.3 years depending on compounding.
Read morePMI typically costs 0.5%–1.5% of the loan per year. Putting 20% down avoids PMI, but if that delays buying years, compare total costs—our tool helps you weigh PMI vs. waiting.
Read moreHigh‑yield savings accounts in 2024–2025 have often paid ~4%–5% APY, but rates can change. Use a conservative 3%–4% APY for planning and update periodically.
Read moreIf high‑interest debt (e.g., 18% APR) exists, paying it down often beats saving at ~4% APY. Consider a hybrid approach: accelerate expensive debt while contributing to your down payment fund.
Read moreLenders prefer DTI below 36%, with no more than 28% toward housing. DTI of 43% is typically the maximum for qualified mortgages. Below 20% is excellent and gives you the most financial flexibility.
Read moreDTI includes recurring monthly debts: mortgage/rent, car loans, student loans, credit card minimum payments, and personal loans. It doesn't include utilities, groceries, insurance, or medical bills...
Read moreThree approaches: 1) Increase income (side hustle, raise, second job), 2) Pay down debt aggressively (focus on smallest balances or highest rates), 3) Refinance to lower monthly payments. Increasin...
Read moreNot directly. DTI isn't part of your credit score calculation. However, high debt payments often correlate with high credit utilization (which does affect your score) and can limit your ability to ...
Read moreThe 'Rule of 55' lets you withdraw from your current employer's 401(k) or 403(b) without penalty if you separated from service in the year you turn 55 or later. This does NOT apply to IRAs or old 4...
Read moreYou can always withdraw your contributions from a Roth IRA without penalty or taxes (since you already paid taxes on them). But withdrawing earnings before age 59½ triggers both penalties and taxes...
Read more'Hardship' withdrawals from 401(k) plans still trigger the 10% penalty and taxes - the hardship designation just means your employer allows it. Some specific hardships (medical expenses, disability...
Read more