Best Online Forums About Saving Money

The first rule of personal finance is to spend less than you make in order to save. However, making financial decisions and lifestyle changes that impact your future can be overwhelming. This is especially true if you do not feel well informed or have never been taught. If you are feeling out of your depth, here are some of the best online forums about saving money. Not only will they point you in the right direction, but they will also provide community support to help you achieve your financial goals.

Best Online Forums About Saving Money

Finance Goal 1: Budgeting to Save Money

Frugal Village

The Frugal Village is one of the best online forums about saving money and budgeting. You can delve into topics about how to transform your lifestyle and spending habits. The forum allows you to browse through dedicated topics and blogs or read up on the latest savings challenges. You can even join other members in taking on one of them with the support of the entire forum behind you. It offers motivation and advice to keep on the right track.

Finance Goal 2: Building Your Savings

Tip Yourself Savings App

One frequent piece of advice about budgeting is cutting out unnecessary daily expenses. While this is solid advice, it can be difficult to maintain discipline to build your saving. However, the Tip Yourself app creates a fun way to save money by making it into a game of sorts. Instead of buying morning coffee or splurging on things you don’t need, the apps allows you to pay yourself instead. You can watch your money accumulate in your personal tip jar and encourage others who are doing the same. It is a fun and alternative way to spur your savings plan into high gear.

Finance Goal 3: Paying Off Debt

Money Savings Expert

This is a very diverse and active forum that covers many financial topics. In particular, their Debt Free Wannabe has a wealth of knowledge aimed to help you pay down your debts. When you join this community, you become part of a network of like-minded people all working towards the same goal. When you have the support of an entire community, it makes the overall task of reducing debt less daunting.

Finance Goal 4: Saving Money for Retirement and Investing

Morningstar

Morningstar has a longstanding reputation as an excellent tool for investment research. Furthermore, the site’s rating system for stocks and mutual funds is universally known and utilized among the investing community. Not only is it a free research tool, but it is an excellent starting point for anyone who wants to learn more about investing strategies and the stock market. While you should seek out several sources, Morningstar is a prime resource to assist you with making major investment Safetradebinaryoptions decisions.

Bogleheads

This oddly named forum takes its name from the founder of Vanguard, Jack Bogle. Bogleheads forums provide information and advice about long-term passive income. You can peruse through their quick links to read about trending topics or create your own threads. It is a convenient resource when making decisions about balancing your portfolio and allocating your assets.

General Advice Forums About Saving Money

Reddit – Personal Finance

When it comes to common sense advice on a broad range of topics, there is no better place than Reddit. You quickly receive down-to-earth advice in their friendly forums. This holds true even with the Reddit – Personal Finance forums. After you post your question, others who have expertise or experience with your specific situation will contribute helpful tips. While it may not be the first site you think of for financial advice, community members are very helpful in getting you the information you need.

Jenny Smedra

Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.

If You Haven’t Refinanced Your Home Mortgage, Here’s Why You Should

Mortgage rates are at a big-time low. Therefore, if you haven’t refinanced your home, it’s the perfect time to do so. You could save yourself a whole lot of money in the long run by making that change right now.

Mortgage Rates Are At a Low

Current mortgage rates certainly aren’t the lowest that they have ever been. However, they’re definitely low. CNBC reports that the average 30-year fixed mortgage rate is now 3.73%. That’s lower than anytime in the past three years. With mortgage rates fluctuating dramatically even in the years before that, there’s a good chance that your own home mortgage is priced at a higher rate.

Haven’t Refinanced Your Home? You Might Be Losing $3200 Per Year.

The report indicates that on average, if you refinance your home to these low mortgage rates, you could save $266 per month. That adds up to nearly $3200 per year. Sure, you could do nothing and keep paying that interest to your mortgage loan. But why?

You could take that money and enjoy it. Better yet, you could take that money and make it work for you. Keep paying the same amount to your mortgage each month, but allow that extra money to go towards the principal. After all, you’re used to spending that money each month. If you refinance your home, then you owe less in interest. Paying the same amount you’ve been paying means that you’ll pay off your mortgage that much more quickly.

You’re Not Alone if You Haven’t Refinanced Your Home

According to that report, there are more than 8 million homeowners who haven’t refinanced to take advantage of these great rates. So, if you haven’t refinanced your home mortgage, then you’re certainly not alone. But just because millions of other people are wasting their money doesn’t mean that you should, too. Savvy home owners check regularly to see if refinancing your home makes financial sense. It’s something you should do periodically to make the most of your money.

In particularly, if you have an adjustable rate mortgage and you have not refinanced your home then you’re probably making a mistake. The security of a low fixed rate mortgage simply can’t be underestimated.

But I Just Got My Mortgage Last Year!

Many new homeowners mistakenly think that they have to wait for years before refinancing their home mortgage. That’s not the case at all. Sure, when rates are steady, there’s no reason to refinance. However, when rates change as much as they have lately, it’s worth it refinance whenever the rates are lowest.

If you just got your mortgage in the past year or two then you may not have even thought about refinancing yet. However, if you haven’t refinanced your home while the rates are lowest, then you might miss your best chance.

The report indicates that more than one third of borrowers who just got their home mortgage last year could benefit from refinancing now. That adds up to approximately 1.5 million people who could save money if they refinance their home. Are you one of those borrowers?

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Kathyrn Vercillo

Kathryn Vercillo is a professional writer with more than a decade of experience writing about healthy living and personal finance. She lives in San Francisco, where she has learned to maximize frugal living tips in order to thrive as a freelancer in one of the nation’s most expensive cities. When she’s not writing, she’s exploring the city on foot with her rescue dog. Learn more about her at www.kathrynvercillo.com.
Kathryn also writes about saving money with coupons over at GroceryCouponGuide.com

How to Make Ends Meet in the Most Expensive U.S. Cities

I live in one of the most expensive cities in the U.S. In fact, San Francisco is arguably the most expensive city in the United States. Manhattan is the only other city where rent and mortgages compare to those in San Francisco. It isn’t uncommon to see $15 cocktails on a menu here.

Kathyrn Vercillo

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