Property Taxes Archives - Critical Financial

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Why We Don’t Use Escrow

Posted by Melissa Batai on Jan 24th, 2023 · 0 Comment

We bought our first house in 2014. However, we didn’t have enough for a 20 percent down payment, so we had to take out private mortgage insurance (PMI). Therefore, we also had to have an escrow account for our homeowner’s insurance and property taxes. We didn’t realize that our property tax would go up the following year, and we’d have to either pay a lump sum for the difference or increase...
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What Will the New Tax Law Do to the Housing Market?

Posted by Jackie Cohen on Dec 28th, 2017 · 0 Comment

New tax law might slow down housing market.

The new tax law will have a profound impact on the housing market, although in ways that go beyond the deductibility of mortgage interest and property taxes. Jackie CohenJackie Cohen is an award winning financial journalist turned turned financial advisor obsessed with climate change risk, data and business. Jackie holds a B.A. Degree from Macalester College and an M.A. in English from Claremont...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Why We Don’t Use Escrow

What Will the New Tax Law Do to the Housing Market?

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Critical Financials’ Basic Personal Finance Rules

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