When it comes to navigating your personal finances, the right plan can really set you up for success. Knowing exactly what that strategy should entail, though — and how exactly to start creating said plan — can be a bit overwhelming. Today, let’s talk about what a personal financial plan does, how to go about…
Short of winning the lottery or receiving an inheritance from your wealthy great-aunt, there’s really only one way to build wealth: you gotta work for it. But while stashing your pennies is a great way to save up for the future, you probably aren’t going to wind up wealthy on those earnings alone. Instead, you…
Debt gets really a bad rap but the reality is that, for most consumers, carrying around some level of debt is unavoidable. Few of us can afford to buy a home or even a new car with cash, and paying for a college degree without a student loan or two (especially at a for-profit university)…
Some folks prefer to never carry any form of debt, while others strategically use certain financial products (like loans or credit cards) to their advantage. Whichever category you fall into, though, the simple fact is that a good credit score can open many doors throughout your life. Understanding how to build — and then maintain…
There are many important terms in the world of investing and financial planning. One of them — which can have a significant impact on your savings and future plans — is “diversification.” Diversifying is the practice of varying your investment efforts across a number of different asset classes, in order to limit the level of…
Between commercials, online ads, and credit card solicitations in the mail, you’ve probably already heard mention of credit card rewards. But what you may not know is how they work or why they are so incredibly beneficial. The idea behind credit card rewards is pretty simple, and is very similar to other rewards programs you…
As an investor, one of your biggest goals may be to eventually live off of passive income streams. Contrary to active income — which you earn every time you clock in at work or complete a side hustle project — passive income allows you to grow your wealth without trading any additional hours of your…
It doesn’t matter whether you live alone or have a family of 12, every household shares food as a common expense. In fact, according to the Bureau of Labor Statistics, the average American household spends $8,169 on food annually, or about 9.5% of adults’ disposable income. With numbers like that, i’s easy to see how…