A Fourth of July Roundup

Let’s start with Wealth Pilgrim’s Neal Frankle who answers the question “How Much Can I Afford For A House?” This is one of those recurring questions, and one that seemed to get ignored as the real estate bubble formed.

(well, I used a Fireworks image for my tips for Financial Independence, so a barbecue seemed appropriate for today)

Staying on the topic of first time homeowners, Doug Warshauer discussed “30 vs 15 Year Mortgage. Which is Best For First Time Homebuyers?” I think this can’t be answered without knowing a  lot more about the person doing the buying and choosing the mortgage. I’ll reserve my own further thoughts for a future post of my own.

Craig Ford at Money Help For Christians shares his thoughts on “When Do You Become Debt Free?” The question he raises – Are you still the slave of the lender if you have no debt other than a mortgage? Can you call yourself debt-free when you still don’t own your house outright, or does “I have a mortgage” mean “I am still in debt?”

I enjoyed New Versus Used: The Great Debate at the Millionaire Nurse Blog. An interesting list of things Dean would buy used, and then a shorter list he’d avoid. His ‘avoid’ list has “electronics” and I’ve had pretty good luck buying older electronics on eBay, but as always, your mileage may vary.

Another new-to-me blog I found this week was “eventual Millionaire” and Jaime’s post Compare Yourself to a Millionaire in which she offers some statistics from Dr Thomas Stanley’s The Millionaie Next Door. A good read from someone who seems to be taking the right steps as well.

And last this week, a nice post from Jeff at Deliver Away Debt, The Debt Destroyer System. Take a read there, sounds like Jeff’s financial independence isn’t too far away.

Enjoy a safe and happy holiday.

Joe