What to Know About Biden’s Student Loan Debt Relief Plan
On August 24, 2022, President Biden announced his long-awaited plan to cancel student debt for millions of borrowers. While critics will argue that this bill did not do anything to bring down the high costs associated with higher education, the debt forgiveness will provide relief to many that are scheduled to resume paying their student […]
Deconstructing your Debt-to-Income Ratio
Your debt-to-income ratio (or DTI) measures your monthly debt payment against your monthly income (before taxes or before other deductions have been made). To calculate your DTI, add your total monthly debt payments and divide them by your total pretax monthly income. For example, if you pay $200 a month toward your car loan and […]
Car Shopping in the Time of COVID
The COVID pandemic has had many unexpected consequences. A booming stock market. An overheated housing market. A glut of office space. But who would have ever thought it would have such a profound impact on buying or renting a car? Yet that’s exactly the case. Car prices have skyrocketed, delays are common, and shortages are […]
Manage Your Debt
New Year’s Resolution: Manage Your Debt As the new year dawns, most Americans are probably happy to bid good riddance to 2020, a year marked by the COVID-19 pandemic, lockdowns, political brawls, and challenging economic times. Many have had to take on debt to tide them over. If you’re among them, or one of the […]
College Costs in the Era of COVID-19
Paying for College in the Era of COVID-19 This semester, millions of students, teachers, and college administrators are having to deal with a radically changed landscape while still managing college costs. At many institutions, classes have been cancelled or moved online. Sports programs have been suspended and dormitories, libraries, and labs shuttered. In fact, traditional […]
Managing Finances during COVID19
Smart Financial Strategies for Unexpected Events A once-in-a-lifetime event such as the coronavirus pandemic forces us to reassess many things we may have taken for granted. Most of us take our personal good health for granted. Many of us assume we will always get by financially, that we will always be able to earn money […]
Should You Refinance?
[av_image src=’https://paultramontozzi.com/wp-content/uploads/2020/05/paul-tramontozzi-cfp®-financial-planner-westchester-ny-should-you-refinance.jpg’ attachment=’1100′ attachment_size=’full’ align=’center’ styling=” hover=” link=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’ admin_preview_bg=”][/av_image] [av_heading heading=’Mortgage Rates Are Down. Should You Refinance?’ tag=’h1′ style=” size=” subheading_active=” subheading_size=’15’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] For today’s homebuyer, mortgages are cheaper than […]
Building a Solid Financial Foundation
Building a Solid Financial Foundation When the markets and the economy are behaving badly, as they tend to do from time to time, it’s easy to feel helpless. But creating a solid financial foundation can help you gain control of your investments and possibly avoid mistakes that can sabotage your portfolio. Your Net Worth — […]
Bearing the Burden of Student Loan Debt
Bearing the Burden of Student Loan Debt If you are weighed down by student loan debt, you are not alone. Recent data shows that there are 44.5 million student loan borrowers in the U.S., and they owe a collective $1.5 trillion. What’s more, 45% of recent graduates have student loan debt and a whopping 62.5% […]
Getting Ready for 2019
Getting Your Financial Plan Ready for 2019 Last month I wrote about how the Tax Cuts and Jobs Act could affect your year-end planning. Now I’d like to look at year-end planning from a broader perspective. This list should help you get your financial plan ready for the new year: It All Starts With […]