Personal finance is almost always a balancing act. You’ll need to strike a balance between spending and saving. You’ll want to balance your expenses against your income. You would be wise to make sure the risk and potential reward stay in balance. Most importantly, though, your portfolio will benefit if you keep your investments in balance. There are many ways …
Congratulations! You’ve made the important decision to invest some of your finances this year, and it’s your first time ever. But where do you start? Jumping into the market without first taking careful stock of your finances is like asking for seconds at the dinner table before finishing your first portion. Though you can technically invest before your debts are …
Sometimes life throws expensive surprises. To cover them, you’ll need to borrow. If you’re borrowing to finance one of these costly events, consider a personal loan. 1.) Weddings. When it’s time to get married, the wedding is on – there’s no waiting for funds! The average wedding costs over $30,000, too much for one credit card, and the interest would …
The best things to do with a savings account is to forget about it and let it earn dividends. However, don’t forget about it so long that it becomes dormant. A dormant savings account is one with a low balance that has had no deposits in a while. Exact criteria varies by state. Generally, accounts with less than $50 that …
Exchanging time for money is a primary economic activity. It underscores every transaction. You go to work and trade your time and labor for a salary. You’re tired on the way home, so instead of cooking, you exchange money for the time and energy of a fast-food worker. You want to go out to dinner with your partner, so you …
Share Savings Certificates are an excellent savings option. First of all, they’re NCUA-insured. Second, they have a better dividend rate than a savings account. And, generally speaking, they’re safer than the stock market. But, before you lock up your money, answer these questions: 1.) What am I saving for? If you’re saving for a rainy day, you’ll need the flexibility …
Debt is the wealth killer. Debt is the single greatest threat to your retirement planning, college savings, and financial independence. Except, as it turns out, there is one kind of debt that defies all of these rules: mortgages. The money you owe on real property can be a boom to your financial independence in a lot of ways. Let’s talk …
Whether you’re a long-time homeowner or you’ve just started shopping for your dream house, you’ve seen stacks of papers full of acronyms. Buried amid the dense undergrowth of legalese are three letters that could be costing you more than you think. Be on the lookout for PMI: Private Mortgage Insurance. PMI in a nutshell Close your eyes and imagine yourself as …
When shopping for a new car, it’s always too easy to let your emotions do the shopping. After all, you’ve been fantasizing about that red convertible for how long? For most people, a car is the most expensive purchase they’ll make aside from their house. So, keeping this sobering thought in mind is a substantial step toward reining in those emotions. …
