Just the other night, my husband asked me for an update on our finances. He’s a second-year medical school student, so he has zero time to manage our bills and accounts. That’s my job, and I love that he trusts me to take care of all of our day-to-day finances. During this conversation, we started talking about how far we’ve come financially and shook our heads in shame at some of the biggest mistakes we’ve made with our money since we’ve been together. It’s truly incredible how much we know now compared to what we knew then. If I could rewind time, here are the two mistakes that I’d go back and reverse:
Finding ways to motivate ourselves and others will be a constant lifetime challenge. We can only rely on so much coffee. It’s a feeling that is hard to understand and sometimes even more difficult to replicate.
Many people looking to purchase a home have questions about how a mortgage works.
Sure we wish we would have known to buy Apple stock, invested in Facebook, or maybe even not married that person. But rather than lamenting on what you didn’t know, the time is now to act on what you know now.
For most of us, at the start of our adult lives, we have minimal property and possibly some debt from school. But our net worth statement includes a large asset: our future earnings potential. As we age, we turn our earnings potential into actual spending, and fulfillment of our financial goals.
There is definitely something special about gazing into the past of historic sites.
The average monthly payment for student loans in the U.S. is around $300, so you now have that much more cash.
There is probably nothing more disappointing for a buyer than to spend weeks, possibly months, looking at homes in a particular price range only to discovering that they can not qualify for a loan.
The importance of an emergency fund is pretty widely understood. A well-stocked emergency fund can help you get out of debt and build wealth. It can help you avoid using a credit card when emergencies arise. It is what separates those strangled by debt and those who are truly living life.