Opening an account at a bank or credit union is the first step toward owning your personal finances. Best of all? It’s super easy.
Most people ask, "How much does college cost?"—that’s the first mistake. It’s not to say this question isn’t answerable, but grouping college into one huge expense can be a little deceiving.
Investing can seem like a very risky, complex and fast-moving process. With endless combinations of investment vehicles to choose from, it can be difficult to take your first step as an investor—especially with the knowledge that all investments carry the risk of losing some or all of your money. So why bother?
In case you haven’t heard, compound interest is the best.You may remember it as an equation you had to memorize for math class, but it’s so much more than that. It’s the concept that powers all sorts of savings and investment products and, over time, allows you to turn your money into, well, more money!
For most people, spending comes naturally. Saving up for something special is harder. And setting money aside for giving is really hard.
Picture this: you’re steering your shopping cart through the sliding doors of the supermarket, shopping list in hand. As you walk the aisles, there’s a strategy you can use to save an average of 33% on your entire purchase. It doesn’t require any coupon clipping or rewards cards. And the best part? You still get every single item on your list. The secret? Buying private-label products instead of brand-name products.
5 Financial New Year’s Resolutions & How to fulfill them
Imagine this: you are out for a walk and you find a stack of shiny gold bars. Where do you put your treasure to keep it safe?
An emergency fund is an essential part of your personal finances. Its importance is stressed in almost every personal finance book and budgeting blog, and yet 26% of Americans currently have no emergency fund in place. Of those who do have an emergency fund, up to two-thirds do not have the often-recommended six months’ worth of expenses saved up.
If you're willing to wait, a CD can be a great way to earn a high interest rate on the money you deposit.