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 Student Debt – Gain Positive Arbitrage
Key Takeaways Positive arbitrage is the goal when refinancing federal and private student loan debt. There are several federal loan repayment programs that can lower your payments, and if you have a good credit score, you may be able to refinance your private loans, thus reducing those payments as well. Refinancing your loans and reducing […]
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 […]
Student Debt – Consolidate or Not?
Key Takeaways When managing student loan repayments, payment flexibility is key. Pay off student loans one at a time versus consolidating them so that you can achieve flexibility and keep options open. Pay off highest interest rate loans first to avoid paying more in interest overall.
Leveraging Expenses
Key Takeaways There are actually ways you can use your expenses as leverage to help you pay off your debt and save more money. Developing a budget, paying your bills on time, and prioritizing expenses helps to gain clarity of your financial picture, keeps your expenses low and credit ratings high, and helps you build […]
Complexity of Student Debt
Key Takeaways It’s important to know your options in choosing a loan to fund your education as there are big differences between federal and private loans. Federal loans have several flexible repayment options whereas private loans do not. Paying your first loan payment on time and in full helps build your credit and keep it […]
Auto Loan Basics
Key Takeaways When getting an auto loan, you want to be sure you know what’s involved so you are not caught off guard with hidden fees or payments. The elements to consider when getting an auto loan are your budget, savings, credit score, amortization, depreciation, and buying new or used. You can get a loan […]