If you own a home or you're thinking about buying one, I have some bad news.
I know a lot of people who have gone broke because they told themselves, “I can afford the monthly payment.”
The other night, my wife and I went out for dinner. When it came time to order dessert, I couldn’t help but think, “Is it really worth shelling out $13 for a piece of cake when we have other expenses, like building a big house?”
I don’t like the snowball method at all. If you tackle the smallest debt first, it might not be the debt with the highest interest rate, and you’ll end up paying more in the long run.
The truth is that you miss out on a lot of life by being cheap.
Unless you have a perfect credit score, you probably want to improve it.