Finance

• Smallest Bill? Or Highest Rate?

  Which debt should you pay off first? Paying the debt with the highest interest rate will reduce the total debt quicker. The reason is clear. The higher the interest rate, the more interest is added to the balance you owe each month.

• Can My Employer Steal My 401k?

  During this shaky financial time many companies have gone out of business. Please address what will happen to the 401k. Some folks have lost everything because the company considers a 401k their property.

• Before You Buy a Home

  Buying a home is a complicated process and takes some work to do it right.

• How Much?

  I understand that 25% of my monthly income should be for mortgage, taxes and insurance. How much should I plan for the remainder of my budget? There are two of us in our household. Is there a set formula? Also, if I plan to retire in the next 5 years, should I be carrying a mortgage for the sake of a tax write off?

• Unemployed Bill Crisis

  My husband has been out of work for 5 months and the income he did bring in when he was working was double what I currently bring in. Needless to say, my checks and the unemployment are not paying the bills. I am starting to panic because bill collectors are calling daily. I cannot tell them when I can make payments so they continuously call at home and work. I feel like I am going to lose my mind because of this!

• Piggyback Mortgages and PMI

  Many people are anxious to enter the housing market. Low interest rates make mortgages more affordable. But they also drive up housing prices. Which means more people are having trouble saving an adequate down payment.

• Temporary Downsizing?

  Is it smart to use your big asset to pay off debt and “slim down” for a few years, or is it stupid to give up a chance to continue earning equity?

• Using ROI at Home

  The idea of ROI (Return On Investment) is fairly simple. A business investment should save or make money. The ROI calculation is an attempt to determine how much each dollar invested will return. If a business has limited resources only the highest ROI projects would be financed.