Homes are some of the most secure assets to purchase, though as anyone who lived through 2008 will tell you, they are not bulletproof. When purchasing a home, your target is to get your monthly mortgage payment which includes taxes and insurance within 25% of your take home pay. Most people are not there today. However, if you are considering a new purchase, being as close to this number as possible is your goal. If you purchase a home that is over 25%, it will be your job to increase your...

Last week, I discussed debt and described the difference between asset-backed debt and unsecured debt. I used the analogy of debt being like digging a hole in your backyard. In short, asset-backed debt means that the dirt you used to dig the hole is right beside the hole. If something bad happens, you can fill the hole back in with the asset. Think mortgages. You buy the house with debt, but it's an asset you could sell to pay off the loan if need be. Unsecured debt is when you go into debt,...

As I broach this emotional topic, I want to begin by being clear. I am neither for nor against debt. Debt is amoral, meaning it is not, in and of itself, categorically moral. Debt can be a destructive evil. It has torn people down and has caused heartache, divorce, and all sorts of strife. Debt has also built churches, businesses, and hospitals that have been used for incredible good. Debt is neither right nor wrong categorically. To understand different sorts of debt, we must first...