Tag: NerdWallet

50/30/20 rule
Personal Finance

What is the 50/30/20 rule?

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The 50/30/20 rule is a simple and effective budgeting technique that can help you manage your money better and achieve your financial goals. By following this rule, you can balance your spending and saving priorities and live a comfortable and fulfilling life. Remember, the 50/30/20 rule is not a one-size-fits-all solution. It is a framework that you can adapt and modify to suit your personal situation and preferences. The most important thing is to find a budget that works for you and stick to it.

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budget
Personal Finance

Creating a Budget That Works: A Step-by-Step Guide to Financial Success

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Budgeting is one of the most important skills you can learn to improve your financial situation and achieve your goals. By following these five steps, you can create a budget that works for you and helps you live the life you want. Remember, budgeting is not about depriving yourself of the things you love. It’s about making smart choices with your money so that you can enjoy the things that matter most to you.

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House
Real Estate

How Much House Can I Afford

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Buying a house is a big decision that requires careful planning and research. To calculate how much house you can afford, you can use the 28/36 rule or an online affordability calculator to get a rough estimate based on your income, debt, down payment and other costs. However, you should also consider other factors that may affect your affordability such as your savings goals, spending habits, future plans and risk tolerance. By doing so, you can find a house that is not only affordable but also suitable for your lifestyle and dreams.

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retirement planning
Retirement

The Importance of Early Retirement Planning: Starting Your Journey Today

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Have you ever dreamed of retiring early and enjoying more freedom, flexibility, and fulfillment in your life? If so, you are not alone. Many people aspire to retire before the traditional age of 65, but few actually achieve it. According to a 2020 survey by the Employee Benefit Research Institute, only 11% of workers expect to retire before age 60, and only 6% of retirees actually did so.

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Real Estate

How much do I need to save for downpayment of a house?

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One of the most common questions that home buyers have is how much they need to save for a down payment on a house. A down payment is the amount of money that you pay upfront when you buy a home, and it usually ranges from 3% to 20% of the purchase price. The amount of down payment you need depends on several factors, such as the type of loan you choose, the price of the home, your credit score, your income, and your savings.

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student loan taxes
Personal Finance

Taxes on Student Loan Forgiveness: What You Need to Know

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Student loan forgiveness can be a great relief for borrowers who are struggling to repay their debt. However, it can also come with a hidden cost: taxes. Depending on the type and timing of your student loan forgiveness, you may have to pay federal or state income taxes on the amount of debt that is canceled. Here are some things you need to know about taxes on student loan forgiveness.

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