Understanding your financial IQ is crucial for making informed financial decisions and achieving long-term financial success. Your financial IQ, or financial intelligence, is a measure of your knowledge and understanding of various financial concepts and principles. Check out the books and tips below to increase your Financial IQ.
Dealing with debt can be scary. Paying off your mortgage, car, and student loans can sometimes seem so impossible that you might not even look at the total you owe. You just keep making payments because that’s all you might think you can do. However, there is a way out! Here are 4 tips to help: Make a Budget Many people have a complex budget that tracks every penny that comes in and goes out.
A financial strategy is many things. It’s not just a budget. In fact, a solid financial strategy is not entirely based on numbers at all. Rather, it’s a roadmap for your family’s financial future. It’s a journey on which you’ll need to consider daily needs as well as big-picture items. Having a strategy makes it possible to set aside money now for future goals, and help ensure your family is both comfortable in the present
It might be uncomfortable to think about the need for life insurance, but it’s an important part of your family’s financial strategy. It helps protect your family during the grieving process, gives them time to figure out their next steps, and can provide income to cover normal bills, your mortgage, and other unforeseen expenses. Here are some guidelines to help you figure out how much is enough to help keep your family’s future safe. Who
For many people, when purchasing items with a debit card or credit card, the only difference for them may boil down to simply entering a PIN code or scribbling a signature. But what really is the difference? The answer may be a little complicated, largely due to misnomers and a blending of terms used by the public. Read on to see what the difference actually is. A clarification of terms The words credit, debit, and
It’s late Friday afternoon. Your to-do list is a crumpled, coffee-stained memory in the bottom of your wastebasket. Another great week in the books! But as you head out for a night on the town with friends or maybe cuddle up next to your kids to watch their favorite movie, did you ever consider how you spent your after-work time during the week? Whether you’re routine-driven, a free spirit, or somewhere in between, setting aside
A teacher walked into her classroom with a clear jar, a bag of rocks, a bucket of sand, and a glass of water. She placed all the large rocks carefully into the jar. “Who thinks this jar is full?” she asked. Almost half of her students raised their hands. Next, she began to pour sand from the bucket into the jar full of large rocks emptying the entire bucket into the jar. “Who thinks this
