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Should I buy or rent a house?
Read more: Should I buy or rent a house?Dear daughter, A question that almost everyone makes to themselves at a certain stage in their lives is should I buy or rent a house? I want to tell you my point of view related to this question. When you rent a house, you pay the monthly rent, and you are done. If there is…
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When is the best time to buy a house?
Read more: When is the best time to buy a house?Dear daughter, I’ve seen this question over and over. I want to tell you my point of view considering that I made my share of impulse decision-making around this topic. There are two ways of buying a house. The first one and probably the most common is to get a loan from a bank, this…
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How to calculate principal and interest in a mortgage?
Read more: How to calculate principal and interest in a mortgage?Dear daughter, I recently found out about a problem with my mortgage interest payments. Because of that, I want to show how to calculate interest and principal in a mortgage so that when the time comes, you are prepared to make an informed decision. I already explained to you what a mortgage is in one…
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Do I need a credit card?
Read more: Do I need a credit card?Dear daughter, Having a credit card can be another way of having debt. And if you are not disciplined, it can be very bad for you. Do you need a credit card? Short answer: you don’t need a credit card! Can you have a credit card? Yes, you can have a credit card. Let me…
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Myths about debt
Read more: Myths about debtDear daughter, The more I talk to people and listen to them about debt, the more I see how many myths are there about debt. Please allow me to explain what I mean by myths about debt. Some people believe that without debt you cannot get rich. Others might tell you that you are missing…
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Is debt good or bad?
Read more: Is debt good or bad?Dear daughter, Is debt good or bad? This is a recurrent question in many people’s lives. There are many opinions regarding this question. Here, I want to give you an idea of how to think about this question. As it happens with many things in life, the answer is that it depends. Some people consider…
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Is debt worth it?
Read more: Is debt worth it?Dear daughter, This is a common question nowadays, is debt worth it? There is a short answer for it, I’ll recommend you not to borrow money. But as with almost anything in life, it depends. Let me give you a few examples so you can understand my point of view, or at least get more…
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Pay off the debt or invest the extra cash?
Read more: Pay off the debt or invest the extra cash?Dear daughter, When we have debt, a common question that arises is this one: should I pay off the debt or invest the extra cash I have? The answer to this question can be tricky for most people. In this letter, I’ll explain to you my approach to answering this question, so you can make…
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What is a mortgage?
Read more: What is a mortgage?Dear daughter, Today I want to tell you about mortgages. Yesterday, I had a conversation with a couple of friends, and I found out that they don’t know what an amortization schedule is, or how much they have to pay in interest even though they both have a mortgage. And because of this, I want…
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A temptation I had to reject
Read more: A temptation I had to rejectDear daughter, A couple of days ago, something interesting happened to me. I think it might be helpful for you if I tell you what happened. In the end, why wait until one day it happens to you? It is better if you can get something good out of the things that happen to me.…
These letters are for you