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• Mortgage prepayment plan: Own your home in half the time

  Posted Feb 25 2008, 04:58 AM by Karen Datko
  Rating:
  Filed under: investing, housing, saving, Get Rich Slowly
  Money Blog: Smart Spending Blog - MSN Money

  This post comes from J.D. Roth at partner blog Get Rich Slowly.

  Because I recently eliminated all of my nonmortgage debt, I have a significant positive cash flow. The $1,000 per month I was putting toward debt can now be used for investing. I'm making maximum contributions to my Roth IRA, of course, but that still leaves several hundred dollars each month available for other purposes. This has forced me to re-evaluate my financial goals.

  For the past year, my wife and I have discussed making accelerated payments on our mortgage. I've written about this choice several times at Get Rich Slowly, and it seems clear that mathematically it makes more sense to invest the money. However, it's also clear that eliminating a mortgage offers a tremendous psychological boost. I've never heard anyone say they regret owning their home outright.

  I've researched a variety of mortgage-acceleration schemes:   Read More...

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• These people must know what they're talking about

  Posted Dec 20 2007, 03:39 PM by Karen Datko
  Filed under: investing, housing, saving
  Money Blog: Smart Spending Blog - MSN Money

  Do those personal-finance bloggers really know their stuff? Some of them have the net worth to back it up. FrugalTrader at Million Dollar Journey posted a handy chart listing the net worth and age of 13 of the PF bloggers who share details about their finances at their Web sites. At the top of the list is Millionaire Mommy Next Door, with a cool $1.6 million at age 43. Everyone else on the list is younger, and all have impressive numbers.   Read More...

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• Selling vs. renting: Try this calculator

  Posted Dec 07 2007, 07:12 AM by Karen Datko
  Rating:
  Filed under: investing, debt, housing, saving
  Money Blog: Smart Spending Blog - MSN Money

  Millionaire Mommy Next Door is the queen of the online calculators this week, presenting a substantial list to help you get a grip on your debt situation and your possible options. It includes several here at MSN Money, including the debt evaluation calculator and the Savvy Spending Quiz. Another interesting calculator can be found at another MMND post, and it's right up Mommy's alley. It indicates whether you'd be better off renting out your house or selling it if you had to move. (If you're a regular MMND reader, you know she's no fan of home ownership, is a millionaire and doesn't owe anyone a dime.)   Read More...

  Discuss ( 4 comments) 771 Views Digg this | Email this | Link to this