Casey Dowd – I was 24 years old when I married my wife in 1974. The average price of a new home was $34,900 and the average median family income was $12,836, according to government data. At the time I was a restaurant manager in Florida and brought home $269 every other week and we had a strict budget to make en
Fast forward 39 years and it’s incredible how much prices have risen and the economy has changed. The national median price for existing homes was $180,000 in December 2012, according to the National Association of Realtors and the average median household income was $50,054 in 2011, according to the Census Bureau.
No matter how much has changed over the decades, basic personal finance principles hold steady: a well-formed and adhered to budget will lead to greater savings and a financially-sound retirement.