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Housing boom may be cooling as weekly mortgage demand drops again

[CNBC, Getty Images] The average interest rate for 30-year fixed-rate mortgages decreased to 3.17% from 3.18% last week, but the Mortgage Bankers Association said applications for a mortgage to purchase a home fell 3% and were 2% lower than the same week a year ago.“Tight housing inventory, obstacles to a faster rate of new construction, […]

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76 all-cash offers on one home. The housing madness shows no signs of slowing

(CNN) Ellen Coleman had never received so many offers on a house in her 15 years of selling real estate. She listed a fixer-upper in suburban Washington, DC for $275,000 on a Thursday. By Sunday evening, she had 88 offers. “The offers just kept coming,” she said. “I felt like Lucy with the chocolates. I’m thinking, […]

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I’ve made thousands of dollars a month in passive income for the past 5 years: Here’s how

[CNBC] When I got laid off from my job in 2015, I promised myself that I’d do whatever it took to become my own boss and never go back to a full-time job. It was a goal that came with many brainstorm sessions and lots of Excel spreadsheets. In the end, I not only wanted to make […]

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3 signs you’re good with money, according to a financial planner

[Business Insider] Being “good” with money isn’t a right or wrong question. It’s more about how you think about your money.One sign that a person is good with money is an understanding of asset protection — if you have the right insurances in place, I know you’re thinking about the future.Understanding inflation and investing your […]

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My parents have relied on the same budgeting strategy for over 50 years, and it’s helped them retire with tons of cash in the bank

[Business Insider] When my parents first got engaged, my father went to the library to read about “married peoples’ finances.” The book he checked out recommended tracking every penny of your spending, then budgeting based on your spending.Following that advice for over 50 years has allowed them to buy homes, put us through college, and retire […]

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My husband and I are worth $3.7 million, but I’m afraid I’ll spend my way into the poor house if he dies.

[MarketWatch] When I was single, I bounced checks. What can I do? ‘He earns all the money and handles all our finances. I love to spend money and have a head-in-the-sand approach to money problems’ Dear Moneyist, I am a 65-year-old woman married to a great guy for decades. We have no children. He earns […]

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Here are three reasons to read the small print on credit cards, loans and car deals

[USA Today, Getty Images] Little expenses can bleed your bank account dry. Here are three types to be aware of. We pay small(ish), avoidable expenses all the time. Banks make billions on overdraft fees alone. Utility companies tack on late fees if our payment reaches them two days late. We pay both a “delivery fee” […]

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Refinancing my mortgage didn’t lower my monthly payment by much, but it saves me $50,000 and gets me 2 years closer to debt freedom

[Business Insider, Getty Images] When the Federal Reserve dropped the federal funds rate target to zero in March 2020, the average interest rate fell to a record low.As interest rates fell, I jumped at the opportunity to save on my mortgage.Instead of opting for the lowest-possible payment on a 30-year loan, I took a slightly higher […]

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6 reasons I keep most of my cash in a savings account instead of in checking

[Business Insider, Getty Images] A checking account should be a stop for your money on its way to somewhere else, not a final destination.Putting money aside for a major purchase, like a house or car, in a high-yield savings account means you earn interest on your large balance, helping it grow even faster.Separating your money into […]

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Opinion: More cuts to 401(k) matches are coming

[MarketWatch, Getty Images] To conserve cash, some employers are suspending contributions to their workers’ 401(k) accounts. And if this downturn plays out like previous recessions, more will follow. The handful of employers announcing suspensions in recent weeks include travel companies and retailers hit first and hardest by shrinking consumer demand, including Amtrak, Marriott Vacations Worldwide MAR, +1.38%, the […]

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