Steadfast Finances - A Personal Finance & Investing 101 blog that delves into current events, consumer education, and techniques to improve your bottom line.
18 December 2012

What You Need To Know About Debt Relief

 Debt Reduction         No comments

Being in debt can be incredibly stressful. The logistics of just trying to remember who you owe money to and when you have to pay them are enough to drive you crazy, but on top of that you have to deal with all of the uncertainty, fear, sacrifices, and damaged relationships.

17 December 2012

‘Til Debt Do You Part: Should a Hidden Financial Past Stop the Wedding? Part One

Congratulations! You are endeavoring to step forward onto the path of lifelong love, commitment, and togetherness with someone you cannot live without. You’ve made the wedding plans, you’ve done the responsible thing and mapped out your five year plan in detail (savings, spending, investments, mortgage, and eventually kids), and now you’re as excited as punch to share your secure and detailed plan with your future spouse. You are so excited about what the future holds for you and your beloved one until you show them your brilliant financial plan and they turn as white as a sheet.

16 December 2012

Are You Fully Prepared for Retirement?

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While I always wanted to be an adult, never have I ever wished to myself to grow old. No one ever wants to grow old. At least, no one that I’ve talked to. The primary reason is that once you reach a certain age, your body starts to wear down and costs to maintain your health go up. This is the reason that I often dread talking to my grandparents. Conversation isn’t about anything other than body ailments. Whether it is someone’s hip that is hurting or movements that they can no longer perform, it never ends. Don’t get me wrong, I love my grandparents. I just don’t want to grow old. As I think about growing old and planning for retirement, I can’t help but wonder if I am totally prepared for retirement.

13 December 2012

Decoding Health Insurance Jargon

 Personal Finance         No comments

Unfortunately, getting hired isn’t the end of a complicated transition. In fact, in many ways, it’s just the start of some very challenging paperwork. Between the policy acknowledgements and tax documents, there are your health insurance elections. Just starting a career and landed your first job? Then this is probably the first time you’ve ever looked at health insurance benefits. Spend five minutes with an insurance administrator and you’ll find yourself bombarded with confusing terms like deductible, co-pay and co-insurance.

10 December 2012

5 Tips for Spending your First Paycheck

Payday has finally come and you are staring and your first ever paycheck. This is probably one of the most unforgettable moments of your life. Yes, it is very tempting to go wild and spend it all in one go. After all, it is what tradition dictates that you do. However, is it really the smartest way to go about enjoying your paycheck?

6 December 2012

Which Accounting Method Should You Use for Your Small Business

 Personal Finance         1 comment

The end of the year is coming up and my wife has a big accounting decision to make. This year, my wife started a music studio. Since it’s her first year of operation, she has to pick an accounting method to properly report the taxes owed from the business. Perhaps you’ve never given your choices much thought. Maybe you were not aware that there are different methods of accounting, but the choices available can greatly change your tax liability.

3 December 2012

5 Ways to Save Money for a House

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Buying a house for the first time is a big step and investment. After all, prices are always fluctuating, and such a purchase involves a pretty sizable down payment. However, with some careful budgeting, creativity and dedication, it is possible to save for such a property purchase. The following are some helpful tips for people who want to save money to buy a house.

3 December 2012

How Much Does College Really Cost?

 Personal Finance         No comments

It has been eighteen years since your child was born. A few days ago he has just received an acceptance letter to his top college choice in the mail. This is the moment you have been waiting for and working toward for almost two decades. While you feel that parental pride that your child will be working towards a higher education degree for the next four years, you also feel apprehension. You worry if you have saved enough to fund four years of college education. It’s natural. Unless you’re a millionaire, you’re going to feel some pressure when you stop to think about how much these four years are going to cost you.

29 November 2012

Why You Don’t Want to Make an Auto Insurance Claim

 Personal Finance         1 comment

There wasn’t much I could do. The deer ran out in front of me and froze in the middle of the road. I had only an instant to react and knew swerving into on-coming traffic was likely to get me killed. My only choice was to hit the buck and deal with the inevitable damage. I’ve hit deer before and they are sturdy creatures. A mere tap can cause more damage than is seemingly possible. My collision will mean repairing my bumper, hood, headlight, fender, door and side mirror. One deer is going to cost me thousands.

26 November 2012

A Snowball’s Chance in … America: Creating and Maintaining a Debt Snowball

 Personal Finance         No comments

America is the “Land of Opportunity.” Everyone has a chance to go to school, get a paying job, earn enough to buy the house with the while picket fence, and retire when they are 60. Unfortunately, America is also the “Land of Crippling Debt.” As of 2010, the amount of consumer debt in the United States was approaching $2.4 TRILLION, which, when broken down, amounts to $7,800 for every single person living in the US. Consider this; these numbers were high in 2010, how high do you think they are now? The US economy is taking a nose dive and every man, woman, and child in this country is feeling the debt effects–but there’s hope.

22 November 2012

Average Cost of a Thanksgiving Dinner

There’s a feeling of sticker shock the first time you roll over the frozen turkey at the grocery store and check out the total cost. It might seem steep, but the average cost of a Thanksgiving dinner is very affordable. According to the American Farm Bureau Federation, the average cost for a family of 10 is under $50 or slightly less than $5 per person. You probably spend more money driving to Grandmother’s house. Still, there are many things that can be done to spend less than the average American.

22 November 2012

Make sure your contents insurance covers Christmas presents

 Personal Finance         No comments

Lots of time, effort – and money – goes into finding the right Christmas presents for your loved ones. But before you go shopping, make sure you check to see if your new shiny gadgets and gizmos will be covered by your contents insurance. Now’s also a good time to check your buildings insurance – [...]

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