9 smart personal finance moves in 2009

Nice article on Bankrate on what could be a tough year financially.

1. Know yourself. 

2. Know where the money goes.

3. Know when to say no.

4. Know when to say yes.

5. Know when and who to ask for help.

6. Know your risk tolerance.

7. Know your portfolio.

8. Know your mortgage.

9. Know your credit.

Bankrate.com

Which mortgage is right for you?

Everyone has their own lifestyle and different priorities, based on what stage of life you are in. A lot of these factors go into making the decision on your choice of mortgage. Bankrate.com gives you 8 different situations and which mortgage goes with which.

1. Buying for the long haul: Loan to consider: 30-year fixed rate


2. Refinancing (15-20 years before retiring): Loan to consider: 15- or 20-year fixed or adjustable rate mortgage (ARM)


3. Recent graduate with strong potential for increased earnings: Loan to consider: One-year ARM


4. Self-employed: Loan to consider: No- or low-documentation loan


5. Planning to live in home 4 or 5 years: Loan to consider: A 5/25 hybrid loan


6. Job with good income, but not consistent month to month: Loan to consider: Option ARM


7. Job relocation for a short run (with good income and savings): Loan to consider: Interest-only mortgage


8. Active duty military or veteran: Loan to consider: VA loan

More on why these are the right choices after the jump.

Which mortgage is right for you? via Bankrate.com