Monday, 06 February 2012
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Welcome to Smart Family Finances
We all need help navigating the financial complexities of modern life. How do we afford a house? How much do we need to save for college? When can we retire? Why types of insurance do we need? This site attempts to collect expert information and resources to help you find the best solutions for you and your family.

 
Is Your 401(k) Contribution Safe?

What are the warning signs that your 401(k) contributions might be being misused?

Employees are asked to make voluntary or mandatory contributions to pension and other benefit plans more frequently than ever before. This is particularly true for 401(k) savings plans. These plans allow you to deduct from your paycheck a portion of pretax income every year, invest it and pay no taxes on those contributions until the money is withdrawn at retirement.

Read more...
 
Home Equity Loan Warnings
A well-timed home equity loan can allow you to use your biggest asset to successfully navigate a major life change event.  A home equity loan or line of credit can be used to upgrade your home, send a child to college, invest in a new business, or consolidate debt among other things.

But the world of home equity loans is rampant with fraud and abuse.  In a worst-case scenario, you could even lose your home.  This article from the Federal Trade Commission highlights the deceptive practices you should watch out for when considering a home equity loan.

Read more...
 
Young Adults and Insurance
Leaving home to go out on your own is a time full of firsts - your first home, your own furniture, your first utility bill.  Along with the freedoms come new responsibilities.  This is often the time that young people come face to face with their first decisions about health, home, and auto insurance.  What considerations should a young person contemplate when making those first and very important decisions?
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Renting vs. Buying a Home
To Buy or Not to Buy... This is the question many young adults face when it comes to a home or a car.  Once you start earning a good, steady income you'll most likely face this decision: Should I buy my own home instead of paying rent to someone else?
Read more...
 
How to Buy an Alarm System
Keeping your home and family safe requires an effective alarm system.  You don't have to spend a fortune for it, but you do have to shop around and most importantly you have to know what you want before you begin talking to a vendor.  A little homework can save you a lot of money.  And dont' forget, many home insurance companies will lower your insurance premium if you have a home alarm system.
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Things to Know About Your First Credit Card
How you use your first credit card can determine your credit for decades.  Many young people with their first card make simple mistakes that will quickly lead to higher interest rates and lower credit scores.  Here are a few tips for playing the credit card game right from the beginning.
Read more...
 
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