If you are looking for a new place to live, coming up with the amount you want to spend on rent can be complicated. However, rent will make up a major part of your expenses so you want to be careful not enter into a lease on a place you can not afford. So how exactly do you budget for rent? This article will give you some valuable tips that will help you know how much you can afford to set aside. How much of My Income Should I Devote to Rent? The first step to deciding how much you … [Read more...] about Monthly Rent: How To Properly Budget For It
About Scott Bates
How to Build a Personal Emergency Fund
In this topsy-turvy world, we never know what’s going to happen next. Changes come at the drop of a hat and they can greatly affect our finances. An emergency fund can help us keep our heads above water at difficult times. Building an emergency fund takes more than just stashing money away. It involves making the right investments to make your money work for you. Keeping that in mind, here are some tips for how you can build some savings that will help out on a rainy day. Why … [Read more...] about How to Build a Personal Emergency Fund
What Exactly Is Deflation? Everything You Need To Know
What is deflation? Is it the opposite of inflation? And if so, is it a good thing? Before we dive in more, let's define what inflation is according to Wikipedia: "Inflation is defined as an increase in prices and the fall of the purchasing value of money." The truth is, deflation isn’t exactly the opposite of inflation and it’s never a good thing. Read on to find out more about what deflation is really about. Deflation Definition Deflation is the reduction of the general level of … [Read more...] about What Exactly Is Deflation? Everything You Need To Know
Learn About Inflation: Everything You Need To Know
If we look back in time at the amount of money our parents, grandparents and great grandparents were paying for items like candy, clothing, cars and even houses, we will notice that those prices seem unbelievably low as compared to today’s rate. The rising of prices over time is due to a little something we like to call inflation. Many of us know what inflation is in a broad sense, but getting a better understanding can prepare us in terms of handling our finances. This article will take an … [Read more...] about Learn About Inflation: Everything You Need To Know
Should You Invest in Gold or Silver?
Silver and gold are precious metals that have been known to yield income for savvy investors, but there are a few things you should know before taking a risk. I flipped gold back during the last great recession and it worked out pretty well. But, I sold all my holdings when it started going down from it's all time high of being just under $2,000 dollar per ounce back in 2012. Back in 2012, the stock and real estate markets were very undervalued at that time and I could not resist rolling that … [Read more...] about Should You Invest in Gold or Silver?
Bridge Loan Basics: For Real Estate And Business
In the world of real estate and business it’s very common to hear about Bridge Financing. The concept is pretty straightforward but can be a bit confusing to understand at first. I remember the first time I heard about bridge loans and my imagination went crazy, I had a picture in my head of an actual bridge getting built. Luckily that only lasted a few seconds and I heard the words “Bridge loans are used for short term financing” by the person who was explaining it to me. Below, I’m … [Read more...] about Bridge Loan Basics: For Real Estate And Business
Getting Married? Learn How to Budget for Your Wedding
That fairy tale dress, that buffet of bountiful food, that charming venue; these are all just some of the things that couples hope will be perfect on their wedding days. However, once they start doing some research, they will begin to realize that the expenses involved will cause their wallets to take a major hit. Those that budget a few thousand dollars for their weddings may see that number begin to double and even triple much faster than they would expect. If you are planning a … [Read more...] about Getting Married? Learn How to Budget for Your Wedding
How Parents Can Budget for Their Kid’s College Education
Kids can be quite expensive. It seems you were just looking forward to a time when you no longer had to pay for their diapers and now they need money for going out, the latest clothing and of course, college! Parents who will be paying for their kids’ college are looking at a major expense but planning early can help a lot. Here are some things you can do to budget for your child’s college expenses. Create a College Savings Plan Parents who start stashing away money for college … [Read more...] about How Parents Can Budget for Their Kid’s College Education
Learn About Timeshares: The Good and The Bad
It’s probably happened to us all. We’re on vacation at a popular destination and suddenly we are approached by someone asking if we’d like to attend a meeting to learn more about timeshares. During these meetings you can really be put on the spot to invest, so before attending, it’s a good idea to weigh your options. This article will explain what a timeshare is and give you some insight so you can decide if it is the right investment for you. What is a Timeshare? If you are … [Read more...] about Learn About Timeshares: The Good and The Bad
Hard Money Loans: Everything You Need To Know
It happens to everyone in the real estate investment world. You’re trying to get a deal on an investment property and the bank won’t approve you on a conventional loan for the purchase. This happened to me several years ago and my mortgage broker suggested getting a hard money loan instead. From the first day I got approved for my first hard money loan, up until today, I've financed over one million dollars with hard money, its insane to think about sometimes. Below, I’m going to walk you … [Read more...] about Hard Money Loans: Everything You Need To Know