November 2008 - Net Worth Update and Personal Finance Status

In an effort to encourage readers to learn to calculate net worth and track their personal financial progression, ... and Liabilities Balance $ Change % Change Credit Cards $3,872 $2,372 158.13 % Car Loans $0 $0 - Home ... economic climate amidst the ongoing credit crisis backdrop [more...]

Date: 2008-11-21 21:07:42

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Cash for clunkers worked like this — (Sticker MSRP + markup + options + fees + taxes - $4,500 = Price you paid).

Financing 100% of the price of a car at anything other than 0% means you are under water after the first year. Most people put nothing down when buying a car — just ’sign and drive’ for whatever you can qualify for and believe the dealer has your interest at heart like with real estate agents. The average new car depreciates 10%- 20% in first year. A 60 month car loan won’t exactly ‘build equity’. Being in the Auto Industry, I can tell you we are having the worst September in our history. [more...]

Date: 2009-09-29 15:46:41

Case Study: Paul and Melanie Want to Buy a House

Paul emailed me for some guidance on his financial situation ... Monthly Yearly Rogers 200 2400 RBC Loan 515 6180 CAR Insurance 145 1740 Future Shop 50 ... 0 BMO Mosaik 11200 11.9 RBC Loan 22631 8.8 School Loan 3629 6.5 Total 41971 Paul [more...]

Date: 2009-01-07 11:30:08

Fed Slashes U.S. Interest Rate To Basically Zero

Wasn’t the Fed supposed to cut rates in half today, from 1 percent to 0 ... income” no-doc teaser-rate reverse-equity 105% loans that enabled Juan Drywallhanger and his old lady ... $40,000 per year and already buried in credit-card and SUV debt. So, now that grand era can return again [more...]

Date: 2008-12-16 20:54:35

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