Seeing and understanding the value of time and compounding when it comes to your financial future is challenging as a young adult. When you’re young, you have your whole life ahead of you to not have to worry about it now. Or you feel like you don’t have the extra money to save, so you […]
Being responsible with your money at a young age has its advantages. One of the main reasons why young adults should start saving and investing as early as possible would be to reap the rewards of what would be sometimes known as the magic of compounding. Compounding is when you earn returns on past investment […]
It’s never too soon to start saving for retirement! As a matter of fact the earlier you start, the better off you’ll be when you reach those Golden Years. Or better yet, maybe even retire early! Unfortunately, it’s all too common that retirement savings are not made a priority by most young adults. It’s understandable […]
Once you realize you’re in a debt spiral, you need to figure out how and where you’re spending your money and what adjustments can be made to stop the madness. This is where you need to be creative and/or make some tough choices (or sacrifices), whether you like it or not. For example, bring coffee […]
Not only do you have those small, unsuspecting ways you get yourself into trouble with debt that slowly and incrementally build up until you eventually find yourself in over your head. But then there’s those big dollar purchases that you need to become aware of also. Those are the ones that should be more avoidable, […]
When the amount of your bills is greater than your income, it’s safe to say…you’re in trouble! The very simple concept of having more money going out than you have money coming in doesn’t take much to figure out. It’s when you find yourself in situations like this that you’ll only keep adding to your […]
When you hear talk about the need to increase your income, it doesn’t necessarily have to be a significant increase. You don’t need to get too caught up in how much you’re able to increase your income at first, but more about using that extra income toward paying off debt or putting it toward savings […]
Chances are that the level of debt that you have is in direct proportion to your earnings which is exactly where your comfort levels lie – not so much debt to keep you awake every night, but just enough to appreciate life and your hobbies at your maximum level of income. Living your life on […]
Taking care of your finances is not an easy task or at least not an enjoyable one in most cases! But what is easy, is the availability of credit, with high interest rates. When you couple that with a lack of understanding basic financial principals, you’ll find yourself falling into bad money habits and ultimately […]
Staying focused on the health of your financial future with discipline and patience will eventually allow you to have the financial means to not be in need of anything, including the means to get the things you want! By taking care of what you need, which includes paying off debt and not accumulating more, along […]