Should You Buy or Rent? Should we buy this house or keep renting?
And what's up with my wife's fuzzy little hat? Homeownership has been a cornerstone of the American Dream for decades and is something many men look forward to as a sort of rite-of-passage into adulthood. But is buying a home the right choice for you? Are there instances where you’re actually better off renting? Kate and I asked ourselves these questions last year as we made the decision to transition from renting to homeownership. Pros and Cons of Renting Why would I give up my space age apartment bachelor pad for a place in the suburbs? Pros Flexibility and mobility. More savings than buying (in the short-term). To see the savings advantage of renting in the short-term (and buying in the long-term), take a look at The New York Times’ awesome Buy or Rent Calculator. Reduced monthly costs. No money or time costs on maintenance.
Perks. Cons No control over property. No equity. Annual rent increase outpacing inflation. Few tax benefits. 8 Personal Finance Lessons from Benjamin Franklin. 1.
Understand the True Value of ThingsTest Benjamin Franklin rose from 17-year-old runaway to successful printer, newspaperman, author, inventor, diplomat, and statesman. His great success came from living the virtues of frugality and industry, and his life offers us many personal finance lessons that apply to modern men just as much as they did to those living in colonial America. So without further ado, let’s dive right into uncovering some of Ben’s timeless wisdom. Benjamin Franklin learned one of his first, and most important, personal finance lessons as a boy. When he was seven, he saw another boy blowing a whistle and was so charmed by its sound that he offered the boy all the money in his pockets for it.
But Franklin took an invaluable lesson away from his youthful mistake: 2. Franklin’s father at first wanted him to go into the ministry, but then decided that the boy would follow in his own footsteps and become a candlemaker. Where You Should Sell Your Stuff Based on How Much It's Worth. I've sold via all 4 methods listed and in the end, eBay and yard sales have worked the best for me: eBay - I try to never list anything under $20 or anything that is too heavy or large to ship.
Ebay recently started charging an additional fee on the shipping costs - it's getting less and less profitable using eBay as a seller. I also make sure I have the boxes ready for each item before I list them, so it is easy to tape them up and ship them off. Craigslist - I no longer use this - too many scammers, weirdos and people who never want to pay what you want, even after they have agreed via email and phone. Amazon - its OK for media (books, CD's, dvd's, etc.) - but I prefer secondspin.com for music/movies as they will take your entire collection for one price shipment and also reimburse you for the shipping.
Yard Sale - not a bad option if you promote it, and can haggle to get good prices for your stuff. Negative Budgeting Allows Financial Planning Without Tracking Every Cent. I do something similar, but it is more of a hybrid system. * I first add up all the fixed expenses like Rent, Car payment, Insurance, Netflix, Internet, Phone, etc. * Then I make a general estimate for other essential bills that tend to vary: Water, Electricity, Gas, all that jazz. * Add an allocation for Food and Drinks. * And 10% of total monthly income automatically goes into Savings.
Add them all up. I take that total and remove it from the total income. The left over portion gets allocated to other stuff like clothes, electronics, hobbies, general debauchery, etc. As long as I meet the 10% savings goal and the expense within specific categories do not exceed their allocated amount, I am cool. All this _sounds_ neat, but it rarely ever is.