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 […]
Taxes—The Good, the Bad and the Smart
Key Takeaways You can’t get away from taxes, but people who are well-informed pay less. The majority of Americans pay not one but three taxes on their salary—federal, state and payroll. There are a myriad of deductions, exemptions and strategies you can use to lessen your tax bite and accumulate wealth from Day One of […]
3 Key Money Math Skills
Key Takeaways Compound interest, computational skills and amortization are the three key money concepts we all need to master. As Einstein observed, compound interest is a saver/investor’s greatest friend and a debtor’s greatest enemy. Creating a budget and sticking to it are essential to building wealth and a secure financial future. Budgeting just takes discipline […]
The State of Student Debt
Key Takeaways More than 70 percent of college graduates have outstanding student loans—with an average balance of $37,000—when they graduate. Studies show millennials are far more concerned about paying off student debt and increasing their savings than they are about their retirement. The sooner you can pay off student debt, the sooner you can start […]
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.
Your “3 Part” Rainy Day Fund
Key Takeaways Make sure you always have three to six months’ worth of expenses saved in a rainy day fund that you can easily tap. There are three aspects of a rainy day fund: objective, subjective and emotional. A rainy day fund will enable you to weather the financial and emotional impact of a sudden […]
The American Dream —Your First Home
Key Takeaways Before you embark on the dream of owning your own home, make sure there are no errors in your credit score or financial history. If you can’t come up with a 20 percent down payment, you can often still buy a home—but you’ll typically need mortgage insurance. Many new homebuyers underestimate how much […]