Year after year, study after study, good market, down market the story is always the same…owning a home is a good investment. Not only does it build wealth but it also provides many psychological benefits too.

A survey released earlier this year by the magazine Better Homes and Gardens found that eight in 10 respondents said homeownership is still a good investment and believe owning a home is a smart financial move and a source of pride.

Here are some results of the 2,500 people surveyed online:

  • 86% of home owners still feel owning a home is a good investment.
  • 85% feel “owning a home is one of their proudest accomplishments.”
  • 69% of Americans who don’t currently own a home agree with the statement, “No matter what happens in the U.S. housing market, owning a home is still an important goal in my life.”
  • 68% of Americans plan to spend money on their homes in the next six months, with roughly half (49%) expecting to pay up to $1,000.

 

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Saving money when you have a family can be difficult. There are so many everyday expenses that make it hard to start saving for college, retirement and other looming expenses.

Here are some ways to start planning for your family’s financial future:

Start a college fund: College may seem far away but it is a huge expense that can creep up on you. Start saving now, the sooner the better. Even as little as $100 a month will add up. Open a 529 college savings plan to use specifically for college expenses.

Buy life insurance: Life insurance gives your family a peace of mind. and the ability to afford the expense of final care and burial.  The death benefit will provide financial security for those family members who are left behind.

Have a will: When a person dies without a will, the state decides who gets what, without regard to the deceased wishes or their heirs’ needs. Creating a will that spells out one’s wishes protects their family’s financial future.

How to Save Money

On February 23, 2014 By
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