Debt is something most everyone deals with at some point during their life. The size of that debt may range from the cost of a new sweater to a home mortgage. Whatever the case, knowing how to handle personal debt is important for maintaining healthy finances over the long term. Are You in Too Much… Continue reading
The goal for most parents is to raise children who grow up to be successful and independent. And young people who recently finished college are especially eager for independence. However, rent, student loan repayments and other financial obligations can make it a struggle to get started in life. Some parents may consider offering their children… Continue reading
The purchase of your first home may be the most important financial decision you’ll ever make. While finding the perfect property in the location you love feels like the beginning of your journey, there are numerous other aspects of buying a home you should consider first. You will have to come up with a down… Continue reading
Loans are not a bad thing. They allow us to make major purchases that would be nearly impossible to pay for upfront. Therefore, it is important to establish a good credit history if you intend on making substantial loan purchases in the future. Establishing Credit It is important to establish credit if you plan to… Continue reading
What Emergency savings accounts are an important part of any financial plan. The purpose of these accounts is to cover or offset unforeseen financial emergencies. Such emergencies can include car repair, medical expenses, or even employment termination. Your account should ideally be separate from your primary savings account. This helps reduce the temptation to spend… Continue reading
Unless you’re planning to move to a new and more expensive city, you probably don’t give much thought to the cost of maintaining your lifestyle – or your personal “cost of living.” But your cost of living can change without a cross-country move. You might buy a car that’s more expensive than your last one…. Continue reading
Should you make it a priority to retire your debts before you retire? As with other aspects of your financial planning, the answer depends on your personal goals and situation. A debt-free retirement is a goal for many Americans if for no other reason than the peace of mind it can bring. Among retirees surveyed… Continue reading
It’s no surprise that millennials are the most educated generation to date. Almost 27% of those born between 1981 and 1991 holds a Bachelor’s Degree or higher.¹ However, the benefits of holding a degree are sometimes outweighed by the debt that comes with earning it. The average millennial is graduating with approximately $30,000 in student… Continue reading
Ever felt trapped by your growing amounts of debt? It can accumulate fast and leave you in a deep financial hole. The more debt you have, the harder it may feel to achieve financial stability. By understanding the categories of debt, you can learn how to put a repayment strategy in place. There are four… Continue reading
Sure, it would be nice to pay for unexpected expenses without pulling out a credit card, but that’s easier said than done, right? The secret to paying out-of-pocket to replace a refrigerator, that has lost its cool, is to build an emergency savings fund. Having money set aside for emergencies can help prevent you from… Continue reading