Below are my favourite personal finance content for the outgoing week
- Alternatives to Buying a Single-Family Home
In this article, Kate Wood, writing for Nerd Wallet, examines other types of homes apart from the famous single-family home. She helps readers understand different kinds of homes like condominiums, townhouses, Co-ops, multifamily homes, manufactured and mobile homes, and modular homes. She examines the factors that will help a person decide the type of home to buy and own.
Read the article here: https://www.nerdwallet.com/article/mortgages/single-family-home
- 3 Ways Your Social Security Checks Could Be Reduced by COVID-19
In this article, Katie Brockman, writing for The Motley Fool, examines three ways COVID-19 can affect future payments of social security. She helps us to understand the current situation with social benefits and why the SSA expects the trust funds to dry up 2034. In the article, she examines how COVID-19 could make those funds dry up earlier than 2034.
COVID-19 will lead to benefits cut, could lead to earlier retirement, and could reduce the average indexed monthly earnings of many workers.
- Should I Save Money to Invest or Pay Off Debt First
In this article, Joshua Rodriguez, writing for Money Crashers, helps us to answer the nagging question – should I save money to invest or pay off debt first. Taking too long to invest can have serious consequences (compounding effects) as well as leaving off your debts to accumulate interest. Joshua encourages a system where you pay off the high-interest debts and make minimum payments on the remaining debts. As you pay off the high-interest debts, you can reallocate the funds into investments.
Joshua goes into much detail about understanding your debts, reducing the cost of your debt, and estimating what you could be getting from investments. He suggests that comparing the cost of the debt and the benefits of the returns from an investment is the right way to make a good decision.
Read the article here: https://www.moneycrashers.com/pay-off-debt-save-money-invest/
- Are Airline Stocks Finally a Buy
This is one of the videos from Simranpal Singh’s Youtube channel. The airline companies have been one of the highest hit in the wake of COVID-19. In this video, he analyzes some airline companies and examines if this is a good time to buy airline stocks.
Watch the video here: https://www.youtube.com/watch?v=VPRQzGLk7EQ