A lot of people have a hard time understanding the phrase “pay yourself first”, let alone applying the concept. I’ll admit, even I struggled with it when I first heard it. Let’s face it, after paying the rent/mortgage, utilities, car payment, insurance, credit cards, etc., more often than not, there is never anything left over […]
When you’re young you don’t always realize the value of time, specifically as it relates to money. The fact is that time is your most valuable commodity when it comes to creating wealth. That means you need to take advantage as soon as possible early on in life to really reap the benefits it offers. […]
In today’s society, the vast majority of people have been sold the idea that you need to go to school, attend college, and get a good job. And that’s great! Except it doesn’t end there, because once you have the job you end up ultimately working for decades until you can (hopefully) save enough money […]
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 […]
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 all, build wealth. Too many people today don’t even have a savings account let alone an emergency fund account. Saving should be one of the first things you do with […]
There are a couple of strategies to save money depending on your situation and personality. One way is through self discipline, by being able to manage your money without being tempted to spend before you save or spend what you save. This is more of a manual approach to saving and paying yourself first. If […]
It’s never too soon to start saving for retirement! Unfortunately, it’s all too common that retirement savings are not made a priority by most young adults. The hesitation to start saving at a comparatively early age for retirement is understandable, given that as young adults we see so many working years ahead of us with […]