Planning for Success
Key Takeaways There are six key steps to building lifelong wealth. Establish short-, medium- and long-term goals, and never stop making adjustments to them. Take care of urgent matters first, important matters second and nice-to-have issues last.
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.
To Buy or Lease a New Car
Key Takeaways Leasing limits your mileage, but you don’t tie up cash, you drive a late-model car, repairs are limited, and you don’t have to sell. Buy if you’re looking at used vehicles that you plan to drive for three-plus years and you don’t expect major lifestyle changes.
Know Your Loan Basics
Key Takeaways Four basic components of any type of loan are time, interest rate, loan amount and payment. Young adults tend to have four types of loans: student, auto, credit card and mortgage. A good credit score will give you much better terms on any type of loan—and save you thousands of dollars over your […]
Establishing Strong Credit Hands
Key Takeaways Establishing a good credit history early in life goes a long way to helping you get favorable loan terms. To build your credit, pay your bills on time, stay under the 30 percent utilization rate and establish two credit cards with staggered due dates. Get a free credit report at AnnualCreditReport.com. Make sure […]
Transforming Value into Money
Key Takeaways Great companies like Starbucks, Disney and Four Seasons understand that customers will pay a premium for a transformational product or service experience. Numerous surveys confirm that meaningful work is the No. 1 thing that people want in a career. When building your team, look for self-starters who are alert, curious, resourceful, responsive and […]
When Funding Your Child’s Education, Let’s Not Repeat History
Key Takeaways Student debt has doubled over the past seven years. Newly minted 2016 graduates have an average of $37,000 in debt—some have debt loads in the six figures. 529 plans are excellent, tax-advantaged ways for most parents and grandparents to save for a child’s education. Start saving as early as possible in the child’s […]
Capitalism Gets a Bad Rap
Key Takeaways Considering what’s happened during young adults’ lives, it’s not surprising that they are wary of capitalism and financial markets. But, young folks haven’t been around long enough to gain a true long-term perspective. Millennials are already good savers—they just have to become savvier investors and let risk assets and compounding work to their […]
5 Money Psyche Tips
Key Takeaways Feeling like you’ve lost control of your finances can derail many aspects of life. Planning ahead for large expenditures, staggering your payment schedules and diligently maintaining a minimum balance in your bank account can give you a tremendous leg up. When it comes to your money, always try to stay calm, collected and […]
The 8 Things We Control
Key Takeaways So much of life is beyond our control, but these eight habits for success will put you in the driver’s seat as you go through life. Being prompt, courteous and reliable are simple but powerful lifelong habits to develop. Having a good attitude and putting in 100 percent effort 100 percent of the […]