Suzanne Oldham – Ambassador

Suzanne Oldham – Ambassador replied to the topic That's It…I'm Doing It…I'm Paying Off My Furniture in the forum Manage your debt 7 years, 5 months ago

I have had the opposite problem. That is, I have NOT built savings and instead opted to use extra cash to pay down debt. While I have succeeded in reducing my debt, I do not have enough savings for unexpected expenses. So I plan to be build a better balance between saving and paying down debt so I can handle unexpected expenses.
Suzanne Oldham – Ambassador started the topic More Savings Games in the forum My journey 7 years, 5 months ago

After this post, I heard from others on how they use gaming to save. Here are some more ways to make savings fun:
$5 at a time: Remove all $5 bills from your wallet and set aside. After 6 months use the cash to pay down a credit card balance or splurge a little.
Vision Boards: Create a colorful board to chart your savings goals or your dream…[Read more]
Suzanne Oldham – Ambassador started the topic No Spend Mondays in the forum My journey 7 years, 5 months ago

I love a challenge and I love games. So as I thought of creative ways to save on daily expenses, I decided to challenge myself to the game of No Spend Mondays. Here’s how it works: I take one day a week, usually Mondays, and do not spend any money. I make coffee at home instead of buying my morning coffee on the way to work. I prep my breakfast a…[Read more]
Suzanne Oldham – Ambassador replied to the topic Financial Wisdom From My Dad in the forum My journey 7 years, 5 months ago

Cash is King was my Finance Professor’s daily reminder to us during every lecture in Business School. It still rings in my ears and crosses my lips frequently.
Suzanne Oldham – Ambassador commented on the post, 5 Simple Tricks for Financial Self-Care 7 years, 5 months ago

Great advice. I am particularly interested in the Insurance check up. I recently spent several hours on the phone with our auto insurer to understand how to reduce our car insurance. It turned out that we were way […]
Suzanne Oldham – Ambassador started the topic Help! How do you go about finding the right Financial Advisor? in the forum Plan your retirement 7 years, 5 months ago

A recent post on Sum180 encouraged the use of a Financial Advisor. I plan to take this advice and replace my current advisor who has not reached out to me in over five years. Quite honestly, I need more attention than that. So how do you go about finding a Financial Advisor? Are there questions to ask an advisor to gauge their effectiveness? What…[Read more]
Suzanne Oldham – Ambassador started the topic Jumbo Mortgages? When are they the right type of Mortgage? in the forum Buy a house 7 years, 5 months ago

Recently we were approached by our bank to refinance our mortgage. We currently have two loans: a first mortgage and an equity line that makes up the additional outstanding debt. Both loans are at reasonable rates. When we bought our home several years ago we were unable to secure one “large” mortgage. However, I understand that “jumbo” mortgag…[Read more]
Suzanne Oldham – Ambassador replied to the topic Saving For A New Baby! HELP! in the forum Grow your savings 7 years, 5 months ago

Kudos to you and your husband for starting to save now. Here are a few expenses that took us by surprise:

MEDICAL EXPENSES: Your baby will have multiple visits to the Pediatrician during his/her first year. Depending on your insurance the co-pay can take a toll.

DIAPERS: If you choose to go the disposable diaper route they are expensive. I…[Read more]
Suzanne Oldham – Ambassador replied to the topic Travel Planning – Research Pays Off in the forum My journey 7 years, 5 months ago

Thanks, Stacy. I just booked my first Air B N B because all the hotels were booked or too expensive. We will save money and be in a better location. Thanks for the suggestion.
Suzanne Oldham – Ambassador replied to the topic Do you have a financial adviser? in the forum Save for retirement 7 years, 5 months ago

I have a financial advisor who is an employee of an investment firm. I was told to steer away from an advisor who isn’t 100% independent. Does anyone have a position on this point of view?
Suzanne Oldham – Ambassador replied to the topic Knowing Your Social Security Benefits in the forum Plan your retirement 7 years, 5 months ago

Does the Social Security Administration still give an option to begin taking social security “early?” If so, is there a rule of thumb about whether you should take it early?
Suzanne Oldham – Ambassador started the topic Pension: Wait or Cash out Early? in the forum Plan your retirement 7 years, 5 months ago

When I tell people I have a pension from a private sector job early in my career, I am greeted by oohs and ahhs. Yes, I am one of the lucky few who will receive a pension when I reach retirement age in about 12 years. Recently, I was given an opportunity to cash out my pension. Here is my offer:
Receive $60,000 now (subject to taxes) or wait until…[Read more]
Suzanne Oldham – Ambassador commented on the post, The best way to pay off student debt 7 years, 6 months ago

Are you recommending that everyone refinance their student debt? My son has one loan through Nelnet. The balance is about $26,000. The interest rate is 4%. It seems like a good rate. Any thoughts about this specific loan?
Suzanne Oldham – Ambassador replied to the topic Deciding On What To Invest In in the forum Build your investments 7 years, 6 months ago

Thanks for your post. I have been debating on redoing and upgrading my business website but keep questioning the investment. And an added bonus is we can write off the expense.
Suzanne Oldham – Ambassador replied to the topic Where to find money – really FOUND MONEY in the forum Grow your savings 7 years, 6 months ago

Thanks for the information. I just went to MissingMoney and saw that I have about $40 in an old Pay Pal account.
Suzanne Oldham – Ambassador started the topic Financial Advice for Recent College Grads in the forum My journey 7 years, 6 months ago

As my oldest child prepares to take his first full time job, I am compiling financial advice to help him start out on the right financial footing. Here are nine tips I wish I knew as I began my post college life:

1) CREATE A BUDGET: It is an invaluable tool to know what you have to spend and where your money goes. A budget also decreases your…[Read more]
Suzanne Oldham – Ambassador started the topic Financial Advice for Recent College Grads in the forum My journey 7 years, 6 months ago

As my oldest child prepares to take his first full time job, I am compiling financial advice to help him start out on the right financial footing. Here are nine tips I wish I knew as I began my post college life:

1) CREATE A BUDGET: It is an invaluable tool to know what you have to spend and where your money goes. A budget also decreases your…[Read more]
Suzanne Oldham – Ambassador replied to the topic 26 Years Old With $60k In Retirement in the forum Save for retirement 7 years, 6 months ago

WOW. I plan to share this story with my 22 year old who just asked how much he should save to his 401k. And you are right… you do not miss what you do not have.
Suzanne Oldham – Ambassador replied to the topic It is graduation time in our family! in the forum Grow your savings 7 years, 6 months ago

Congratulations — not just on your graduate but on your planning. We just graduated our first from college and we were able to pay 3/4 of his tuition with 529s. Take Stacey’s advice and save from day one.
Suzanne Oldham – Ambassador replied to the topic I Started the Snowball Method in the forum My journey 7 years, 6 months ago

I am intrigued as I am in the middle of paying down debt. So I looked the Snowball method up online. Here are simple instructions on how it works:
Step 1: List your debts from smallest to largest.
Step 2: Make minimum payments on all your debts except the smallest.
Step 3: Pay as much as possible on your smallest debt.
Step 4: Repeat until each…[Read more]
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