Credit card debt can be sneaky. Often, we may not even realize how much that borrowed money is costing us. High interest debt (like credit cards) can slowly suck the life out of your budget. But paying down high-interest debt can free up cash flow in a big way. It might take time to produce a meaningful return. Your “earnings” will seem low at first. They’ll seem low because they are low. Hang in there.
Nearly every type of debt can interfere with your financial goals, making you feel like a hamster on a wheel – constantly running but never actually getting anywhere. If you’ve been trying to dig yourself out of a debt hole, it’s time to take a break and look at the bigger picture. Did you know there are often advantages to paying off certain types of debt before other types? What the simple list below doesn’t
Depending on where you are in life’s journey, retirement may seem like a distant mirage, or it may be closing in faster than expected. You might think that deciding when to start preparing for retirement requires complicated algorithms. Yes, there may be some math involved – but the simple answer is – if you haven’t started preparing yet, the time to start is right now! The 80% rule Many financial professionals recommend saving enough to
Some could say “never!” but there might be situations in which using a credit card may be the option you want to go with. Many families use credit with good intentions – and then life happens – surprise expenses or a change in income leave them struggling to get ahead of growing debt. To be fair, there may be times to use credit and times to avoid using credit. Purchasing big-ticket items A big-screen TV
Bills, bills, mortgage payment, another bill, maybe some coupons for things you never buy, and of course, more bills. There seems to be an endless stream of envelopes from companies all demanding payment for their products and services. It feels like you have a choice of what you want to do with your money ONLY after all the bills have been paid – if there’s anything left over, that is. More times than not it
Life insurance can be confusing. It sometimes feels like an endless jumble of big words and cryptic abbreviations. Add on top of that how stressful talking about the loss of a loved one can be and you’ve got a topic that can seem unapproachable. It just so happens to be incredibly important. Life insurance is an essential line of defense for your family in the case of tragedy. It can give them the time and
