“Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.” – Suze Orman Having some extra money set aside for those unexpected expenses is the only way to get out of debt, stay out of debt and above […]
Many of us have either created or attempted to create an effective budget at some point. For those of us who have, budgeting or “good money management” is probably one of the most difficult things we face in dealing with our finances. What we need to realize is that successful budgeting is key to good […]
It may be harder than ever before to get approved for a loan today, but increasing your credit rating will give you the best chance. There are various ways that you could improve your credit score and of course among the best is to always pay your debts on time. By paying off credit cards […]
Goal setting is tough enough without adding the word finance into the mix. Many of us are often hesitant to tackle the job of setting financial goals, especially when it comes to the long-term goals that set us up for our financial future. It’s not fun, it’s not sexy…heck! It’s actually pretty boring, right?! Even […]
The difference between assets and liabilities is simply put in this way, an asset is something which generates an income or said differently, puts money in our pocket and a liability is something that is an expense or takes money from our pocket. In order for us to build wealth, we need to focus and […]
For most of us, caring for our finances is not an easy task! Easy availability of credit, high interest rates and a lack of understanding basic financial principals causing us to fall into bad money habits, which end up leaving the majority of us living deep in debt and way beyond our means. To better […]
Let’s face it! Every time we get some extra money in our paycheck, we get the urge to spend that extra money. We get a pay raise…let’s finance a new car! We get a bonus…let’s go on vacation! If we get an extra $5 in our pockets…we find something we “want” to spend it on! […]
Reducing and eliminating debt is no easy task, but it’s essential to your financial and even emotional and physical and health. There is nothing better than seeing debt get removed from your balance sheet. No more worrying about that debt, no more bills or calls from lenders and creditors…it’ll just be gone! Just remember, once […]
A very common and effective strategy to pay off debt is the known as the debt snowball. Picture a snowball that starts off little as it rolls down a hill, but gets bigger as it continues rolling and turns into to a snow boulder as it builds momentum! That’s how the debt snowball method works. […]
Consumer debt is a killer when it comes to savings goals and overall financial well being! Whether we’re saving for emergency funds or investing funds or whatever fund we’re trying to set goals for, consumer debt will hold us down and must be greatly reduced if not completely eliminated in order to achieve financial freedom. […]