Best of the week – February 14, 2015

Here are some articles that caught my eye this week…

What Could You Do With An Extra $470 Per Month?

I am convinced that one of the most common things that keeps people from ever  truly getting ahead is new car payments. The truth is you can find very reliable used cars for a fraction of the cost of a new one, and you can pay cash for a vehicle. It’s not even that hard. Just keep your current car for 2 or 3 years after you have it paid off, but keep paying yourself the car payment. You’ll be able to easily pay cash for a quality vehicle.

Here’s the monthly budget one couple uses after paying off $117,000 of loans in about 3 years

Wonderful debt free story. Paying off debt is hard and it requires sacrifice. But it can be done! Think about what it would be like to not have half your paycheck gone through payments before you even get started each month. A little sacrifice for a period of time in order to take back the rest of your life is absolutely worth it.

3 Financial Principles I Wish My Parents Had Taught Me

While enforcing these ideas when little Johnny or Suzie is looking up at us with those sad eyes might be difficult, if we can help our children learn these lessons while they are still under the relative safety of our care, we are setting them up to be much more successful when they are out on their own someday.

7 Tips to Become a 401(k) Millionaire

If you have the opportunity of participating in a workplace 401(k) plan, especially if you get an employee match, take advantage of it. Over a 40-45 year working career, it really doesn’t take very much to accumulate enough money to have a very comfortable retirement. The great thing with these types of accounts is that the contributions are taken out of your check before you ever see the money, so you can invest without ever really missing the money.

5 common tax deductions people often skip

We are entering that time of year that everyone loves: Tax time! Don’t miss out on these potential ways to save if you can qualify for these deductions.

You Are the 1 Percent, and You Can Do Better!

It is all a matter of perspective.

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