Let’s start this week’s roundup with Sound Mind Investing’s How to use cash instead of credit and debit cards, an interesting discussion of one couple’s transition to using cash instead of credit or debit cards. While the cash-only life isn’t for me, I understand people have their approach to budgeting and avoiding overspending. If you’d like to try this approach, here’s a great article to get you started.
At Stupid Cents, Crystal guest posted, The Difference between Roth IRA and Traditional IRA, a topic that I never tire reading. She offers a great overview of these two plans.
Kevin M posts at Out of Your Rut and wrote an excellent piece this week, Five Reasons the 30 Year Mortgage Beats the 15. Kevin starts his article “I’m one of the rare examples of personal finance bloggers who see the 30 year mortgage as the better option than the 15 year loan for most homeowners.” Well, I’m right there with Kevin, I agree the 30 offers more flexibility and protection than the 15. On a personal note, my wife and I started with a 30 year mortgage, and refinanced to shorter terms as the rates fell and we paid principal, so the payment also fell. From beginning to end, we will have had 5 mortgages, no closing fees of any kind on the last 4, and will be paid in full by year 20.
JLP asked, Could you come up with $2K in 30 days? Which is interesting if only for the fact that for 25% of the population, the answer is simple, “No.”
At Money Crush, an article about Roth IRA for Children. If they have income, Roth is the way to go, I really like this idea.
And last this week – An actuary asks: Take Social Security early and invest proceeds? The choice as to when one should start their Social Security payments isn’t so simple. Nice piece.
Have a great week,
Joe
Well, cash-only life works for me. Though I enjoy cashless shopping at times. Not with credit card though. Never had one, just debit cards. Managing your finances wisely is one of the keys to survival these days. Talk about destabilizing economy.