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How the NAR settlement will impact your house closing costs

When buying or selling a house, you will incur costs to close on the sale of the property. It is important that you understand these costs since they can add:

  • 3% to 4% to the cost of buying a house;
  • 1% to 3% to the cost of selling a house, excluding the commission a seller pays to realtors involved in the sale which typically ranges from 5% to 6% of the sale price.

The actual amount you will owe as a buyer or are owed as a seller will be detailed in your Closing Disclosure form.

For sellers that use the services of realtors, the current scheme of also paying the buyer’s realtor commission at closing will no longer be the norm thanks to a groundbreaking settlement with the National Association of Realtors (NAR).

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Which US higher education institutions offer the best ROI?

Getting the greatest value or highest return on your invested money should be a goal for every dollar you spend in life. As the dollar value of that investment goes up so does the importance of making a more-informed decision. Investing in college is one of those investments. Included in this post are frameworks and tools to help you better understand:

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Self-publishing a book has never been easier

I’m often asked by friends and family why I wrote a book, and was it difficult to self-publish. Here are my responses to those questions.

Why did I write a book?

There are a number of reasons why people write books. Some want to increase credibility in a particular field or profession, or create passive income. Others simply have a desire to entertain or enjoy writing. I wrote a book for two reasons:  Continue reading “Self-publishing a book has never been easier”

Do you know if your vehicle has been recalled?

If you’re unfamiliar with the term “recall” as it relates to your vehicle then you’re either fortunate or uninformed (or both). A recall means that the vehicle manufacturer recognizes there is a problem with one of its vehicles that could jeopardize your safety and must fix the problem at no cost to you. Although a manufacturer is required to notify you of any recalls, sometimes those notices don’t get to you. There’s a good chance you’ve been impacted by the massive recall of nearly 50 million Takata airbags; a recall that impacted vehicles made by 19 different automakers with the airbags installed in cars with model years 2002 through 2015.  Continue reading “Do you know if your vehicle has been recalled?”

You don’t need a budget to manage spending

60% of people don’t use budgets to manage spending, according to the 2017 Consumer Financial Literacy Survey from The National Foundation for Credit Counseling. While that number may be surprising, what is more shocking is that this number has not changed much since the 2007 survey. For all the advances in technology, including spreadsheets and online budgeting software, people’s habits related to managing money and tracking spending have not really changed that much over the last decade.  Continue reading “You don’t need a budget to manage spending”

Buying a vehicle? Check the TCO

If you are in the market for a new or used vehicle, then it is important to do some homework before you settle on make and model. Here are a few things to consider before you pull the trigger on buying that new or used vehicle:  Continue reading “Buying a vehicle? Check the TCO”

Don’t pay to manage your credit score

I was asked earlier this week what’s the best way to check a credit score? There are a few ways to get your credit score, but check to see what your credit card company offers first. Many credit card issuers now provide cardholders with their credit score as a free benefit.  The card issuer I use provides my FICO® score, score history, key factors affecting my score, and suggestions on how to improve my score.  Continue reading “Don’t pay to manage your credit score”

How to maximize the money you make from payments

Individuals can use similar methods employed by businesses to monetize payments made to vendors. For individuals that diligently optimize payments the results can generate hundreds, and even thousands, of dollars in extra cash with the same level of budgeted spending.    Continue reading “How to maximize the money you make from payments”

Have we declared our financial independence?

Financial literacy (a.k.a. FinLit) is the education and understanding of various financial areas, such as saving, spending, investing, insurance, budgeting, retirement and tax planning. The positive impacts of financial education on people are clear, as are the negative impacts to those that lack FinLit.

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