What You Need to Know About Reverse Mortgages

If you need quick access to extra money during retirement, it may be worthwhile to take out a reverse mortgage on your home.  As a grandparent raising our grandchildren, my husband and I had considered a reverse mortgage, simply because the unexpected expense at a time in life when we had become disabled, we didn’t have any extra income.   There are tons of unexpected expenses when we were put in this situation, like school clothes, school supplies, clothing for the girls, shoes, sports activities , etc.  I could go on and on with these expenses.   There are some grandparents that are put in a financial bind because they have to hire attorneys to fight for custody of the grandchildren.   Hiring an attorney for a custody battle, or adoption procedures, can run into the thousands of dollars.   Thankfully we didn’t have to deal with that.  Unlike a traditional mortgage, a reverse mortgage will not require monthly payments on your part. In fact, it is more likely that you will receive monthly payments, unless you select a line of credit or single large payment. But before you sign a reverse loan agreement, here’s what you need to know about the process. read more

As most know, I have 2 older grandchildren that I write about fairly frequently.  It seems as though the older they get , the more they are fixated on snacking all day long!   I know from raising my own children, that the teenage years can literally make you feel as though you need to take out a personal loan just to be able to feed them on a daily basis.  I am certain there must be some type of science behind why they start eating exorbitant amounts of food when they reach puberty, but to be honest with you, it is irrelevant to me. My focus is on how to feed them without breaking the bank and to get them to develop healthy eating habits. read more

Today I have a guest blogger with a great article that she wrote.  Please let me know in comments below if you have also had an experience similar and/or your thoughts and comments.  I always love hearing back from my readers on what I have here on the blog!

My Unhealthy Relationship With Money.

I’m not really sure how or when it started.

I grew up in a typically middle-class family.  Both of my parents worked and up until my younger sister went off to college, I’m pretty sure my Mom still made it home to greet us at the end of the school day.  We lived modestly. We had a nice house, went on vacation once a year, my sister and I shared our own car and we didn’t pay our own car insurance or gas. I had a variety of part-time jobs throughout high school.  I got a decent job after college, but lived at home because that’s what I could afford. read more

Hard-working parents always seem to be strapped for cash. It’s costly to raise a family these days. Thankfully, there are quite a few ways for busy parents to put a little extra change in their pockets. If your one of the millions of grandparents that are raising their grandchildren, this could be the perfect solution to assist you financially in raising your grands.   A good portion of  grandparents that take on this task are retired and the financial commitment to raising our grands, can be a little overwhelming.  Side gigs are a growing trend for busy parents, but you need to find the right gig to avoid taking precious time away from your family life. Here are a few ways you can earn some extra income for your family without filling up your time: read more