Most people see owning a home as a milestone; a marker of success; an important step in settling down and gaining stability. Homeownership is usually touted as a great investment that builds for the future, offering you and your family not only a comfortable domicile but also a safe place to protect your savings, raise your kids, pass down to your heirs or even sell at a profit. But is the key to your own home’s front door really the key to fulfilling your dreams?

If you are debating buying versus renting your next home, following are a few basic principles that can help you make the best decision.

Can You Afford to Buy?

The first consideration is this: Can you afford to buy a new home? Remember, there’s more to the cost than the monthly mortgage with interest, which should not exceed more than roughly 30 percent of your income. You also must figure in other expenses, such as homeowner’s insurance, property taxes, maintenance and repairs, lawn upkeep, association fees and other costs.

Have you saved enough for a reasonable down payment? Most experts recommend or require putting down at least 20 percent of the selling price. The more you can afford to pay down, the more you will save on your mortgage payment. If you put down less than 20 percent, you will likely be required to pay for private mortgage insurance (PMI) until you have at accrued at least 20 percent equity in your home. This insurance is designed to protect the lender in case of default, since homeowners with the least amount of equity are the ones most likely to default on their payments. PMI payments will increase your monthly expenses.

Before buying, talk to an insurance agent and your county tax assessor’s office. Do the math on estimated maintenance, repairs and all other costs associated with owning a home. You might be surprised at how high the real cost is compared to how much you initially estimated. In addition, many first-time homebuyers fail to consider basic purchases that go with a new home: lawn and garden equipment, tools, paint, supplies and other essentials.

Compare the estimated costs to your monthly income. Is the total cost below 30 percent of your income? If not, buying a new home right now may not be a good idea, and you should take another look at renting. With renting, you avoid several substantial costs, including property taxes, homeowner’s insurance, association fees and most repairs and maintenance.

While simply comparing monthly costs and seeing which option is cheaper might be enough to make your decision, buying may not be the best choice for you.

Are You in Debt Already?

Even in today’s economy, with recently rising but fluctuating home prices and sales, buying a home can be a good investment; however, if you are in substantial debt you should delay any home purchase until that debt is paid down. As noted previously, homeownership has hidden costs, which many first-time buyers are not aware of, and finding out too late that you can’t pay your monthly credit card bills plus your mortgage payment is a surprise you don’t need. If you’re in debt, even if your monthly income is adequate, you should probably rent until you pay it off and then reconsider buying.

How Long Are You Staying?

Financial advisors recommend that homebuyers should plan to stay in their new homes for at least three to seven years; otherwise, the costs of ownership might outweigh the benefits when compared to renting. Selling your home is almost never easy, and buying one is a long-term commitment. If you want the freedom to move in a few years to take a new job, for example, don’t get stuck with a monthly mortgage, thinking you will sell your home, make a quick profit and move on.

Selling a home might not be as lucrative as you imagine. If you go through a real estate agent, you will pay a fee when your house sells, and you may incur closing costs, in addition to moving expenses. You should also consider that the housing market can go down as easily as it can go up. Given the recent housing market, if you plan to sell your home less than five or six years after buying, you might increase your risk of owing more than you can get on the market.

It might be hard to predict how long you will be in your new home, but make the best guess possible. If you like the freedom to move on short notice or if you have a history of frequent job changes, renting may be the better option.

Home: Anywhere You Live

There is no one answer to the question of buying versus renting a home. But considering the monthly costs, your income, savings, debt and how long you plan to stay in one place can help you make an informed decision that can save time, money and stress, and make your new home a more peaceful place – whether you rent or buy.

Planning a wedding can be complicated – even more so than you probably realize at first – but by tackling the most important steps as early as possible, you’ll save money, time and stress. Furthermore, you’ll be able to enjoy your wedding day rested and relaxed, knowing you made the best decisions. Though it’s beyond the scope of this article to cover everything, following are some of the most important first steps you can take to ensure a well-planned wedding.

Build a Good Foundation

If you don’t know what kind of wedding you want right now, don’t worry; start with a wedding plan that includes all the basic necessities, and then you can add to it as you generate new ideas. Another approach is to plan the most lavish wedding you can think of and then whittle it down to something realistic, stripping away extra embellishments until you reach a reasonable compromise between your wants, reality and your budget.

When you’re building your basic plan, you’ll need to set a date, of course, so you should consider work schedules, day of the week, seasonal honeymoon ideas and other factors.

Pick a Theme and Envision the Atmosphere

What kind of wedding do you and your fiancé want? Do you want a church wedding or a secular one? Something unconventional? Formal or casual? Indoors or outside? See the big picture and envision the look and feel you want. Use your imagination and consider all the possibilities you find appealing, including destination weddings if you’re adventurous.

The Guest List: Make Your Best Guess Early

Without at least a good idea of how many guests will attend, it’s hard to book the right venue, plan a budget, settle on catering, organize the reception and make many other critical decisions, so try to get a good estimate. If your budget is tight, you must build your list accordingly. If you will have a generous budget, you can make the guest list first and then calculate the cost. Obviously, the larger the guest list, the more costly the wedding. Most important, get input from both sides early on to avoid any complications later. Some couples choose to invite close friends and family to the ceremony and open the reception to a larger crowd.

Set a Budget

Unless you have unlimited resources, this needs to be done as early as possible. Your budget will determine the size of the wedding, where it will be held, how many guests you can invite and how many compromises you will need to make (and you will probably need to make some). Determining how much you can spend is only part of the process. You also must figure out who is paying for what, and this should be settled quickly to give all parties plenty of time to meet their obligations.

List your priorities and spend time evaluating each to make sure they are worth the cost. Above all, don’t go into substantial debt, which could have a negative post-wedding impact on your finances. Your guests will be there to share your day, no matter how fancy or simple; they don’t want you to overspend trying to impress them.

Book a Venue

Once you have an estimate of how many guests will attend, it’s time to book venues for the wedding and reception. Book early to avoid scheduling conflicts and to ensure the venue can accommodate your guests and meet your expectations for atmosphere, décor, catering and budget. If you’re booking separate venues for the wedding and reception, make sure you coordinate start and end times.

Hire a Photographer and Other Vendors

Look for a reputable photographer and videographer as early as possible, as these professionals are often booked months ahead of time. If you are planning live music, book a band well in advance, as well as any catering you will need. Depending on how formal your wedding will be, you might need to shop early for florists as well.

Invitations and Other Early Steps

To avoid last-minute stress, choose and order your invitations as early as possible. Invitations should be sent a couple of months before the date.

Other early steps should include:

• Shop for a wedding dress, especially if you are custom ordering.
• Choose your attendants and what they will wear.
• If you’re planning a lavish honeymoon, especially overseas, plan early and make all necessary reservations and travel arrangements.
• Consider hiring a consultant if your budget allows it and you are short on time.

Planning your wedding may take anywhere from weeks to more than a year, depending on your situation. The best way to avoid stress and busted budgets is to start planning as early as possible, but keep in mind that your guests will be there to see you start your new life and to wish you well. Everything else is just icing on the cake.

Did last year’s family vacation create more stress than it was worth? Vacations should be a time to rest and relax, but poor planning and a hectic pace can make you want to retreat from your retreat. Following are some simple steps that can help ensure your vacation is more enjoyable and less stressful.

Plan in Advance; Plan as a Family

A spontaneous road trip can be fun for a couple, but when you have kids, planning ahead of time is essential for a successful vacation. Your children will enjoy being part of the decision-making process, and they will also be less likely to complain of boredom if they share some of the responsibility for the itinerary. Planning as a family will help ensure a variety of activities that everyone will enjoy.

Plan Your Budget

Unless you’re on an unlimited budget, planning your budget is probably the most important step in minimizing vacation stress. Add up expenses for hotels, airline tickets, rental car and fixed entertainment costs, such as amusement park tickets, whitewater rafting tours and other activities. Then estimate fuel costs and other variables. Next, add in a daily allowance for food and other necessary travel expenses. Finally, budget for harder to estimate costs, such as snacks, souvenirs and unanticipated purchases (allowing for spontaneity adds to the fun and will keep the kids happier).

Simple is Best

It’s easy to get carried away in the planning phase. Travel destination websites are filled with many options, and before you know it, you’ve created a superhuman schedule that will keep you and the kids busy from dawn to midnight. Keeping things simple will create a more relaxed vacation – and save you money. If the choices are overwhelming, check out a package deal, which might include flights, hotel, rentals and entertainment costs. Packages offer substantial discounts compared with paying for everything separately and can save stress during the planning phase and while you’re on vacation.

Go During the Off-Season

Plan your vacation during off-peak times, if possible, to beat the summer vacation crowds. That’s hard to do if your kids are enrolled in school, but planning your trip as early in the summer as possible or waiting until very late, just before school starts, should help you miss the summer rush.

Build in Downtime

Instead of jumping right into the most energetic activities the first day you arrive, spend some time settling into your new environment. Stretch your legs after a long drive or flight and enjoy your hotel room. Acclimate to the elevation. Lose your jet lag. Do some sightseeing, enjoy a relaxed meal, take a walking tour – get to know your surroundings.

Get Your Car Serviced

If you’re driving your own car, make sure all the maintenance is up to date, including oil change, fluid levels, tire tread, air pressure and other items. Cleaning the inside thoroughly before you leave will also make the trip more enjoyable for everyone.

Save Receipts and Reservations

For any reservations or ticket purchase made online, make sure you have easy access to your receipts and itineraries. Print and put them in an actual paper folder; save them to a special email folder; or save them to a file on your mobile device.

Consider Travel Insurance

Depending on how much you are spending, where you are going and what you plan to do, travel insurance might be an important consideration. If your trip gets cancelled due to a storm, disaster or any other unexpected event, travel insurance will pay for your loss. Coverage might also include reimbursement for lost luggage or cancellations due to sickness or injury. If you’re going overseas, travel insurance can guarantee a flight back home in case of an emergency. It can also provide medical treatment in a country where your insurance isn’t valid.

Get Everything in Order

Apply for passports early if you’re traveling to another country. Arrange for pet, home and lawn care, if required, by a trusted friend, business or family member, and ask the post office to hold your mail. Make sure your bills are paid; no one wants to come home to a disconnected utility. Finally, make a list of everything you need to pack and everything that must be done before you leave, and then check off each item as it is completed.

No vacation is perfect, but following these simple steps will help ensure a more enjoyable escape with minimal stress and maximum fun.

Buying a new car is a big purchase – second only to a new home – and the process can be stressful, intimidating and confusing. Negotiating for a lower price can save thousands in interest over the course of a loan, so it’s important to be prepared before you visit a dealership. Adding to the difficulty, sales personnel are trained to sell cars. They know what they’re doing because they do it every day, so you must do your research to overcome this built-in advantage. Nothing can make negotiations easy, but there are some simple principles to keep in mind that can make the process more palatable and, hopefully, ensure that you negotiate effectively and drive away in your new car satisfied with the deal.

Knowledge is Power

Research should not be confined to deciding on the make and model of the car, safety features, mileage or optional add-ons. You can also check out websites and services that list dealer invoices, the latest incentives, rebates and other perks that can add value or save money. If you have a trade-in, look at the Kelley Blue Book value so you’ll know what your car is worth ahead of time.

It’s the Price, Not the Monthly Payment

Invariably, the salesperson will ask you a version of the following question: “What kind of monthly payment can you afford?” While this question sounds logical to the unprepared buyer, it is irrelevant when you’re trying to negotiate the lowest possible price. If you use dealer financing, they will be happy to structure a lower monthly payment and stretch out the repayment terms because they will make their money back on interest – but it will cost you more in the long run. Negotiate the lowest price and get the best interest rate available first. If you need to reduce the monthly payment, then ask to adjust the length of the loan after the final price is in writing.

Don’t Discuss Your Trade-In

Discussing your trade-in before locking down a final price is a bad idea. This will confuse the negotiation process and put you at a disadvantage. You might end up paying more for the car than you should have – and get less for your trade-in than you realize. What does that mean? It means that they might have come down to the same price for the new car even without your trade-in. Negotiate the lowest price first, and then discuss your trade-in to avoid any sleight of hand by the salesperson.

Time Your Visit

The day of the week, time of day, time of year – even the weather – can all be important factors when negotiating for a good deal on a new car. It’s all about the dealer’s motivation to sell cars. For example, visit the dealership on a weekday when they’re not as busy and you might improve your odds because the dealer needs to sell cars and the salesperson needs to make a quota. At month- or year-end, dealers and salespeople need to sell cars to qualify for manufacturers’ bonuses and to meet sales quotas. At closing time on any day, salespeople might be easier to negotiate with because they are ready to close the sale and quit for the day. In late summer, dealerships need to move vehicles from their lots to make room for new models, making this an ideal time to shop for a new car. Even the weather can affect your odds of a good deal. Visiting a dealership during bad weather, when business is slow, can improve your chances of getting a better deal. Finally, time your visit to coincide with rebates and other incentives. Combining two or more of these strategies can amplify your chances of getting a better deal.

Other Tips

• Know the dealer invoice cost and use it as a negotiating point
• Be aware of any manufacturing incentives
• Refuse to pay unnecessary fees
• Avoid buying unneeded or costly extras and accessories
• Be a tough negotiator, but be reasonable and friendly
• Don’t get emotionally attached to the car you want
• Be ready to go elsewhere if you feel negotiations are not going well

Negotiating with experienced salespeople can be an intimidating process. But by doing your research and using some common sense tactics, you can be confident that you’re getting the best deal possible on your next new car.