Buying a Home With the Help of Mortgage Insurance

Prairie Eco-Thrifter

Mortgage insurance (MI) is not the same as mortgage life insurance (which pays off a mortgage if the homeowner dies or becomes disabled) or homeowners’ insurance (which protects homeowners from loss due to theft, fire or other catastrophe). Private mortgage insurance , orPMI, protects the lender and investor from loss, not the borrower. Genworth Financial for example, offers job loss protection so that you can continue to make mortgage payments if you lose your job.

Eight Things I Learned After Becoming a Millionaire

Prairie Eco-Thrifter

My spouse and I were that young, poor couple, sloughing away at our day jobs and scrimping and saving for years to build wealth. Knowing I had the financial backing to live through negative life events (divorce, job loss, catastrophe, etc) removed a level of stress from my life. They worry about what their money is doing to their children’s ability to attain self sufficiency and to find self-fulfillment without the requirement to go get a job to support themselves.

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Why You Should Be Skeptical of Financial “Rules of Thumb”

Prairie Eco-Thrifter

If you lose your job, or encounter another financial setback, 30% of your income might be too much to handle for a mortgage payment — especially if you have other debt. What if you estimate your retirement based on how much you are able to save, but a job loss means you can’t set aside money anymore, plus you lose your employer match? Rules of thumb are often used to make various financial decisions.

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Small Money Mistakes That Have Big Consequences

Prairie Eco-Thrifter

Not Having an Emergency Fund It is dangerous to spend every cent you earn and not to have buffer against illness, injury, job loss or hard economic times. Don’t forget to enter to win an iPad 3 here at PET. You’ve heard “it’s the little things that count”, right? I’m sure everyone can name many little things that have more meaning than a big event in their lives.

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Are You Prepared For An Emergency?

Prairie Eco-Thrifter

This emergency might be one related to a natural disaster, or it might be a financial emergency, such as a job loss. You never know when an emergency will arise. In some cases, you might experience a financial emergency at the same time that you experience a natural disaster. While you can never be completely prepared for the toll an emergency takes on you, it is possible to limit the harm done by an unexpected turn of events.

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Should You Accept Family Money?

Prairie Eco-Thrifter

Sometimes parents will offer temporary funding to tide the family over in times of unusual circumstances (such as job losses or extreme medical expenses, etc). When I was a young adult, out of college and into my first years of marriage, I cringed at the thought of getting money from my parents. I felt it would give them control over me in some fashion and fiercely wanted my independence. I wanted to prove myself.

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Find out how Jessica paid off $56,000 of student loans, credit cards, and a car loan.

Family Balance Sheet

It took me five years to pay off my debt but two of those years I had a job loss, I was taking care of my grandparents and I had lost my motivation and drive to pay off the debt. Today’s Debt Free Story is from Jessica. She owns Every Single Dollar , an online financial resource dedicated to helping single women make informed financial decisions and set themselves up for financial success. Tell us about yourself. Where are you from? What do you for a living?

How to Handle the Stock Market Roller Coaster Ride?

Prairie Eco-Thrifter

Even if you aren’t invested in the market, you wonder if this will ripple down to you in the form of more job losses, higher prices, inflation, benefit reductions and belt cinching. This post was written by Marie. . If you are invested in the market, you know it has been a roller coaster ride the past week. Today (8/10/11), the DOW Industrial Average cascaded down another 500 or so points – the third significant drop in the past week.

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10 Things To Do When You Lose Your Job

Prairie Eco-Thrifter

2.) Apply for jobs. I realize the job market it tight, but if you are not applying, you are not likely to get a job. Ensure you spend time on each application by moulding your resume to suit the job you are applying for. Sending out bulk applications for a variety of jobs with the exact same resume is one of the worst ways to apply for jobs. Take the time to apply properly and your chance of landing a job significantly increases.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

After paying off the debt, she was able to quit her job to pursue her passion. I quit my job to focus on my own stuff (blogging, painting, rental property, my iPhone app, writing Kindle books, etc.). Quitting my job is one of the things being debt free has enabled us to do. We paid off over $147,000 in debt (actually way over that amount, if you want to count a $210,000 rental property that I sold at a slight loss.) Welcome to Debt Free Stories.

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