Household Math™: Coupon Shopping
by Scott Bilker
You have two coupons for orange juice. One is for Minute Maid the other is for Tropicana. You like, and drink, both brands. The coupon for Minute Maid is for 2 half-gallon containers for $3. The coupon for Tropicana is $4.99 for a 96-ounce container. Which orange juice is the best deal? That is, which has the best price per unit volume? Hint: there are 128 fluid ounces in one gallon.
Household Math™: Used Car Loan
by Scott Bilker
You're ready to go out and buy another used car. You know that the monthly payment for a $8,000 3-year loan at 8% APR is $250.70 which, is all you know you can afford. After finding the right car, which cost a more than you originally planned, plus all fees, the total amount financed is $16,000. What is the monthly payment if the rate, and term of the loan, remain the same?
Reducing Your Mortgage
by Gary Foreman
I once heard that you can cut a mortgage in half by simply making one extra payment per year. Is this true? And does this work with any loans like... car, personal and student loans? Thanks.
Household Math™: Choosing a Selling Price
by Scott Bilker
How much can Jack and Jill sell their house for now and keep the monthly payment as affordable as it was when they originally put the house for sale?
Household Math™: Shopping Sale
by Scott Bilker
This is a situation we run into everyday. Stores are always sales, specials, etc. and thirfty people will try to take advantage of these sales. But how can you tell which discount is the better discount?
Household Math™: Coupons and Sandwiches
by Scott Bilker
Here's something us guys at DebtSmart were discussing last week. We're always ordering from this Sub Shop down the street and, being the thrifty folks we are, we decided to figure out the most money-saving way to get lunch. An excellent example of math that can be applied to everyday situations.
Comparing a Refinance
by Gary Foreman
Dear Gary, My husband and I want to refinance our mortgage and add a credit card debt. We owe $44,000 on our mortgage at a rate of 7 1/8% and we have 11 years left. We want to add a credit card debt of $17,000 at a rate of 9.99%. The best mortgage rate that I have been able to find is a 15 year fixed at 6.25% with a fee of $1161 and no points. Would we be wise to refinance? Thanks. I hope you can help me with the answer or point me in the right direction.
Survey Results: Financial Software
by Scott Bilker
Using financial software is one of the best ways to get organized! Do you use financial software?
CONTEST RESULTS from 8/31/01 (Fuzzy Math)
by Scott Bilker
Which loan is better and why? Loan 1: $100,000.00, 30-year loan, with monthly payments of $665.31, or Loan 2: $100,000.00, 15-year loan, with monthly payments of $1,014.27.
Contest Results from 8/17/01 Email Newsletter
by Scott Bilker
You have an outstanding credit card balance of $5,500 at 15.99% APR (fixed) and you're making payments of $99.87 per month. You decide to save money by transferring this balance to an 9.99% APR (fixed) and keep making the same monthly payment of $99.87. How much money do you save?
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