3 Steps to Protect Your Identity
Key Takeaways The data breaches you hear about in the news are not about hackers getting in to somewhere and taking information, but about corporations mishandling your information which in turn ends up getting leaked. Once your information is stolen in a data breach, it can take anywhere between one and five years before you […]
The 50% Rule
Key Takeaways If you get a raise or your income increases for some reason, use the 50% Rule to take half of that increased income and save it or pay down debt. Many times when we have an increase in income, we spend it on things we don’t really need. That new increase in money […]
Tax Planning – Not Just for the Wealthy
Key Takeaways While taxes may be certain in life, there are tax advantage strategies that can help lessen the toll taxes can take on your money. There are three tax advantage benefits to look for when we talk about tax planning: tax deductible, tax deferred, and tax free. Yearly tax planning can save you a […]
All Together Now – The Wealth Portal
Key Takeaways There are many apps out there that can help you track your finances separately, but it’s cumbersome and time consuming. A wealth portal puts all your finances in one place, providing you with a quick summary that you can easily glance over once a week to ensure nothing is amiss. Using a wealth […]
Save First, Spend Second
Key Takeaways If you want to build wealth successfully, you need to save first and spend second. The rule of thumb when it comes to saving is to save about 15%. If you spend first, you can get used to the niceties in life, and then it can be very hard to have to go […]
Half the Clothes, Twice the Money
Key Takeaways When we get ready for a vacation, we typically pack too many clothes and don’t budget enough money. When we make big purchases, we tend to forget all the associated costs that come with buying the item. If you plan in some extra money beyond the main cost of what you are purchasing, […]
Refinancing Your Mortgage – Hidden Benefits
Key Takeaways The benefits to refinancing your mortgage are savings on interest over time, getting rid of Private Mortgage Insurance (PMI), receiving cash for the difference, and using the savings from the reduced monthly mortgage to pay off other debts or save money. Consider refinancing if it takes 1-2 years to break even on the […]
The 3 Kings of Credit
Key Takeaways Check your credit score annually to make sure there are no errors in your financial history. Free credit reports can be obtained at AnnualCreditReport.com. The Fair Credit Billing Act requires the three main credit rating agencies—Experian, TransUnion and Equifax—to correct errors and disputes pertaining to your financial history. To bolster your credit rating, […]
The 3 Ways to Save More
Key Takeaways Save first, spend second. You can’t start a good saving plan (or habit) until you’ve established a budget. Increase your income, reduce your expenses and control your emotions—wait 48 hours before pulling the trigger on a major purchase and don’t fall into the FOMO trap.
Valued Credit Cards
Key Takeaways Pay your entire balance off (on time) every month. Always stay under your 30 percent utilization rate to maintain good credit. Research your awards programs carefully.