Bankruptcy Archives - Page 31 of 102

Fifteen or Thirty-Year Mortgage?

Posted on March 22, 2015April 13, 2016 by Jordan Rumanek

Fifteen or Thirty-Year Mortgage?

Isn’t it a great idea to take out a thirty-year mortgage because it will give me more money every month to use for my monthly budget? NO, a thirty-year mortgage is much more expensive over time and it should never have been an option in the first place. It will be difficult to find a financial advisor to tell you that a thirty-year mortgage is a great idea.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form, to learn more please visit our YouTube. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.

University & College Funding

Posted on March 22, 2015April 13, 2016 by Jordan Rumanek

University & College Funding

“Saving is a fine thing. Especially when your parents have done it for you” – Winston Churchill

Yes, plan for the future and look into your options such as RESPs for our children but make sure you remind yourself that your children’s education will not support you in retirement. Financial advisors are beginning to stress this last point and it is important to remember that if our children want to get a higher education, there are many paths and options and a few of those include youth getting summer jobs, applying to the hundreds of thousands of scholarships available to students, budgeting for food and books and living a simpler life while in College or University. We don’t need to necessarily stress the “starving student” lifestyle but we also do not want to stress the “starving retiree” either. In sum, if you need to choose between education funds and retirement funds, you need to put yourself first, then you will be in a secure enough position to give your children the best financial advice possible.

Focus: One Financial Goal at a Time

Posted on March 22, 2015April 13, 2016 by Jordan Rumanek

Focus: One Financial Goal at a Time

Financial advisors everywhere give advice to people in financial stress and often recommend that each individual needs an emergency savings fund. This is the first step in building a solid foundation because you never want to feel panicked again. Remember that an example of a real emergency is losing your job…not new clothes.

The power of prioritizing your finances gives you visible progress and will help you make things happen in life. It is crucial to make a monthly budget and if you are married make sure you make this monthly budget together because you are a team and need to plan together. This is sometimes difficult but figure out how you can work together and this will ultimately strengthen your relationship as opposed to arguing over finances.

Keeping up with…? DON’T DO IT!

Posted on March 22, 2015April 13, 2016 by Jordan Rumanek

Keeping up with…? DON’T DO IT!

You do not need to spend more money than you make to gain respect and approval from others and there are truly no expectations that are important enough to put yourself in debt or financial ruin. Please do not attempt to “keep up” financially with anyone or any family or friend. Keep up with your own financial goals and reap the benefits and rewards of others asking you for financial advice in the long run.

The problem for many is that aching need for approval and admiration, so we pretend that our personal finances don’t exist or we don’t have financial problems because it becomes too stressful to discuss. It is true that most of us have a weakness when it comes to spending and a secret desire to impress others and gain more respect. Start now with the mind-set that you do not need stuff to make you happy and start a path of humility. You know that path you have been on has brought you to where you are today with your finances.

Category: Bankruptcy

Fifteen or Thirty-Year Mortgage?

Fifteen or Thirty-Year Mortgage?