Do you own a home, or do you want to buy a home someday? If so, it's essential to understand how your debt-to-income ratio can affect how much home you can afford. Understanding your debt-to-income ratio can prepare you to make changes to your current debt and future savings methods. It can also help you achieve the "American Dream" of homeownership. Why Debt-To-Income Ratio Matters Your home can be your largest asset and your most significant investment. Understanding your debt-to-income ratio can ensure that you can afford to pay for a future mortgage and enable you to retain your investment. Evaluating your budget and looking at your current and future financial situation can help you determine how much debt you can afford and be comfortable with. Financial institutions will also use this same method when determining the loan amount you are eligible for. Estimate your mortgage payment here . Understanding & Calculating Your Debt-To-Income Ratio Debt-To-Income Rat

Employers offer their employees many benefits. The benefits that are offered can be confusing and complicated to sort through. However, if you know what to look for, you will be ready to negotiate some of these benefits before accepting an offer of employment. Below are a few benefits to advocate for during your job search and with your current employer. Dependent Care Accounts Dependent Care Accounts allow working parents to use their pre-tax income to pay for daycare expenses. By contributing pre-tax income, parents can reduce their tax rate for an expense that may be required for their children's care while at work. If you owe money when you file your taxes, using the Dependent Care Account is an optimal benefit. Even if you don't owe the IRS when you file your taxes, reducing your tax rate can still be beneficial at times. There are IRS limits, and the amount your employer will allow you to contribute can vary. With this type of plan, employers do not contribute any funds.

Children are never too young to start learning about money. Most children can understand the concept of money at the age of two. These conversations don't have to be dreaded talks but can be made fun by incorporating real-life discussions and games into the mix. Here are four money games that you can start playing today. 1. Monopoly   Ad Yes! The number one game is Monopoly. Monopoly can show children ways to strategize purchases when it comes to real estate. Monopoly allows you to purchase property, add houses to that property, and ultimately upgrade it into a hotel. Owning real estate and upgrading property can be advantageous in Monopoly because you get to collect rent from those who land on what you own. However, purchasing property can be expensive, and if you don't manage purchases correctly, you may go bankrupt before you can reap the rewards. Try this competitive game and collect $200 when you pass Go. 2. The Game of Life   Ad The Game of Life gives you two choices, sta

Reducing credit card debt could be as easy as changing some of your regular spending habits. For example, you could eliminate your coffee purchases on the way to work. Instead, you can use the company-provided coffee and save over $1,000 a year. What about bringing your lunch instead of buying it from the cafeteria or a fast-food restaurant? I'll be generous and estimate that you could save at least $2,000 a year by packing a lunch instead of eating out daily. I don't want to forget to mention that it's a lot healthier and can decrease your waistline as well. Check out this video for 3 easy steps to reduce your credit card debt and build wealth simultaneously.                           Steps to Pay Off Your Credit Cards Evaluate your previous month's credit card bills and find purchases that you could have paid cash for. Make a rule to pay cash for any purchases under $20.  Write down your rule and keep it in your car or on your desk at work as a reminder.  Follow the

Getting rid of credit card debt can be done by following three steps. There are many options out on the market that offer credit repair. However, these options do not get to the root of the problem. As a result, you may find yourself in a constant cycle that causes you to work with credit repair agencies. Review these three ways to eliminate credit card debt and/or keep it at manageable levels. Photo by  Clay Banks  on  Unsplash 1. Apply For A Balance Transfer Balance transfers allow you to move your outstanding credit card balance from one credit card to another. Sometimes you may have to pay a fee for this. However, the fee can be minimal when you consider that most balance transfer terms are not subject to interest for a certain amount of time. The important thing is eliminating or reducing your credit card balance to manageable levels before the interest rate increases. 2. Consider Debt Relief Options Credit card companies do not want you defaulting on your payments. Any amount tha