All in Cash Flow Planning

When is the Right Time to Refinance My Mortgage

When is the Right Time to Refinance My Mortgage

Eric Maldonado, CFP®, MBA
Cash Flow Planning, Financial Planning

Hi, Eric Maldonado here with Aquila Wealth Advisors.

Here is a timely question I’ve heard often, “Should I refinance my mortgage?” In this article, I’m going to walk you through the key questions you need to answer to make an informed decision.

Quick Summary

If you purchased your house when interest rates were higher than current record lows, you might be wondering: should I refinance?

You’d think the answer would be simple: a lower interest rate is better, right?

However, the right choice depends on your situation. And with the way fees and mortgage interest work, a refinance can be a bad deal.

Here are 4 key considerations

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We were featured in Time: How Much Should You Have in Savings?

We were featured in Time: How Much Should You Have in Savings?

Eric Maldonado, CFP®, MBA
Cash Flow Planning, Saving, Risk Planning

Full Time.com article: https://time.com/nextadvisor/banking/savings/how-much-should-you-have-in-emergency-savings/

Six to 12 months of expenses

Eric Maldonado, CFP, a financial advisor at Aquila Wealth Advisors in San Luis Obispo, California, also recommends an emergency fund buffer of six to 12 month of expenses.

“This becomes your stress valve,” he says. “You want to be able to make big life decisions based on what you value most. If you don’t have enough cash on hand, you end up having to make hasty decisions due to time constraints.”

And ultimately, that’s what your emergency is built for: peace of mind.

The Cost of Raising Kids

The Cost of Raising Kids

Eric Maldonado, CFP®, MBA
Cash Flow Planning, Financial Planning, Life Planning

It's no secret that kids cost money.

But how much do they really set you back?

For the average American parent, raising a child comes with a price tag of at least $12,980 every year. By the age of 17, that’s well over $230,000—and that’s before college costs come into play. High-earning families spent even more—over $370,000 according to the research. 1

Of course, child-rearing costs vary from family to family, and it’s far more expensive to raise kids in some high-cost-of-living states, like Oregon and New York.2

Plus, kids don’t magically stop costing you money once they turn 18. College, rent, insurance, and helping out adult children can all add up.

Check out our newsletter here for more on the cost of raising kids.

We Were Featured In Local KSBY News Interview: Tips for paying bills in the middle of the COVID-19 pandemic

We Were Featured In Local KSBY News Interview: Tips for paying bills in the middle of the COVID-19 pandemic

Eric Maldonado, CFP®, MBA
COVID19, Cash Flow Planning

Link to video interview: https://www.ksby.com/news/local-news/tips-for-paying-bills-in-the-middle-of-the-covid-19-pandemic

Wednesday is April 1st. Meaning, for many: bills and rent are due.

Following the COVID-19 pandemic however, some may now be questioning how to make ends meet

In this time of uncertainty, more financial obligations are in your control than you may think.

"Everyone in the world knows what's happening right now so most of those companies are prepared to do something to help," said Certified Financial Planner, Eric Maldonado.

Maldonado says a number of credit card companies are working with customers that call and ask for assistance.

"Call them and tell them you're having trouble because of the coronavirus paying the fee or the bill and if there's a way to postpone it thirty, sixty, ninety days without any interest or any fees charged. If not, is there any reduction in interest rates I can get?" Maldonado explained.

How to say "goodbye" to holiday stress and "hello" to a more joyful season

How to say "goodbye" to holiday stress and "hello" to a more joyful season

Eric Maldonado, CFP®, MBA
Life Planning, Cash Flow Planning

How much joy do you feel during the holidays?

If you’re like many people, the spirit of the season comes with a side of stress.

In fact, research shows that about 2 in 3 people experience holiday stress1— and that the pressure to feel happy is a major source of holiday stress and depression.2

Before holiday stress becomes overwhelming, stop it from snowballing. There’s plenty you can do to manage holiday stress and get more joy out of the season!

In this month’s Aquila Wealth Newsletter, we explore the causes of holiday stress and effective ways to deal with it. Click here to view it.

The Capital One Data Breach

The Capital One Data Breach

Eric Maldonado, CFP®, MBA
Cash Flow Planning, Risk Planning

Steps to protect your cards and keep “what’s in your wallet” to yourself

It seems that credit card fraud and major retailer breaches are just a part of our everyday life now.

Just recently, for example, the Capital One data breach put about 100 million customers in the U.S. and another 6 million customers in Canada at risk.

As these attacks continue and hit more often, the best thing you can do is to be informed on how to prevent and minimize the damage.

Did you know that 43% of companies had a data breach last year? Or that almost 50% of Americans have been victim to credit card fraud in the past 5 years? Or that almost 670 million card records were stolen in the past 10 years? For every American, that is 2.1 stolen credit cards.

Protect Your Cards

Take these steps to protect your cards: