Money Management

Top 10 Personal Finance Articles of the Month — May 2017

It’s time again for one of my favorite features here on Dyer News: a look at my top 10 personal finance articles of the month. As the weather warms, two life-changing activities become en vogue once again: homebuying and weddings. Naturally both are represented in this month’s list along with some other nods to the summer season and some evergreen advice. As always, this month’s list includes a couple Dyer News Top 10 mainstays as well as a few first timers. Without further ado, below is my list of the top 10 personal finance articles published in May of 2017, along with their title, author, and the site they originally appeared on.

Homebuying Advice

How Much House Can I Afford? – Home Affordability Calculator — Amy Livingston, Money Crashers

There’s something about the summer that warms the housing market and gets buyers interested in hunting for a new home. If you’ve also been bitten by the homebuying bug that makes its way around this time of year, there are more than a few things you should consider. At the top of that list is the amount you can truly afford to spend on a new place, which Amy helps you calculate in her piece.

3 Reasons You May Be Overpaying for Your Mortgage — Maurie Backman, The Motley Fool 

Once you’ve determined how much you’ll need to buy your house, it’s time to get approved for a mortgage. However, depending on a number of factors, you could end up paying more for your mortgage than you should. From private mortgage insurance to the effect your credit can have on your interest rate, Maurie points out three reasons why you might end up paying too much for your mortgage. 

Are You Really Ready to Buy Your First House? — Kyle Burbank, Money@30

So you’ve calculated your mortgage and found a reasonable deal — deal closed, right? Unfortunately it’s not quite that simple. Beyond the price of your house, there’s a lot more that goes into homeownership including a multitude of expenses that buyers need to be prepared for. Kyle lays out many of these challenges and asks “are you really ready to buy a home?”

Side Hustles and Freelancing

10 Dark Sides of Self-Employment — Kevin Mercadante, Out of Your Rut

In an age where technology offers entrepreneurs more opportunities to build businesses from their bedrooms, it seems more and more Americans are now self-employed. While there are a great number of perks for freelancing or being self-employed, there are also a few downsides to consider as well. As Kevin highlights, personal finance can get a bit more complicated when you work for yourself.

Here’s What You Need to Know Before Signing Up to Drive With Uber or Lyft — Dana Sitar, The Penny Hoarder 

Another major shift currently taking place is the move toward what’s been called the gig economy or sharing economy. At the forefront of these movements are two ride-sharing companies, Uber and Lyft, which both allow regular citizens to become a taxi service and make extra money by driving others in their car. If you’re considering starting a side hustle by driving for either of these companies, check out Dana’s look at both Uber and Lyft and how the two services differ.

Have a Frugal Summer

How to Keep Wedding Season from Breaking the Bank — Miranda Marquit, MoneyNing

You’ve seen it all over Facebook and maybe you’ve received the “save the dates” invitation in the mail that informs you that wedding season is now in full bloom. Not only are weddings expensive for the bride and groom (or possibly their parents) but the costs for guests can add up as well — especially if you’ve been invited to multiple events throughout the summer. That’s why Miranda offers a few tips for specifically surviving wedding season and keeping your expenses down.

The Best Way to Exchange Foreign Currency & Money — Jim Wang, WalletHacks

When you’re not too busy heading to different nuptials each weekend this summer, perhaps a trip overseas is on your seasonal itinerary. If so, you’re likely to need some foreign currency to ensure you get can around and pay for goods while away. Before you assume you can just get cash at the airport before boarding your flight, you’ll want to review Jim’s advice on the best places to exchange currency and save yourself a few bucks for your trip.

How to Save Money in the Summer and Still Have Fun —Michelle Schroeder-Gardner, Making Sense of Cents

Leaving weddings and trips abroad out of your summer plans due to a tight budget? You may think you’re doomed to a pretty boring season ahead of you. However Michelle is here to help as she suggests a few fun frugal activities and other tips for saving money while still having a good time this summer.

Personal Finance Tips

The Simple Rule Tells You Where to Put Your Retirement Money — Matt Brownell, The Balance

We all know that saving for retirement is important. Futhermore many workers are aware of a few of the benefits 401(k)s and IRAs have to offer, but how exactly do you decide which accounts should be prioritized when it comes to your contributions and which ones can get what’s left out? In this piece Matt looks at this very question and provides some solid answers.

What to Do When You Need $100, Fast — Kristin Wong, TwoCents

Study after study has shown that the majority of Americans would have a hard time covering an unexpected expense — even one a small as $100. This is why payday lenders and other expensive options continue to be utilized despite warnings from regulators and lawmakers. For her article, Kristin takes a closer look at various lending options while also giving her assessment of why these problems are so prevalent.

Thanks for checking out my top 10 personal finance articles published last month and congratulations to all of the bloggers who made the list. To find more of these great articles on a daily basis, be sure to follow me on Twitter @jondyer9 and of course visit DyerNews.com.

Other Articles by Jonathan Dyer