Archive for Spending

Freeze Credit Reports

| October 24, 2017 | 0 Comments

Freezing your credit reports with the three major credit reporting companies (TransUnion, Equifax and Experian individually) can be one of the best ways to prevent someone from opening credit in your name. Without a freeze on your credit reports, a thief who has obtained your personal information (i.e. social security number, driver’s’ license number) can open […]

Filed Under: General-Finances, Spending

5 Reasons Debt is Your Enemy

| September 20, 2016 | 0 Comments

Most people will agree that debt is a bad thing.  I’m not talking about a reasonable mortgage on your home or a five-year car loan at a low interest rate.  Debt on credit cards that you cannot pay off each month or a six or seven-year car loan on a car you won’t keep until […]

Filed Under: General-Finances, Spending

What is Wealthy?

| August 4, 2015 | 0 Comments

The adjective “wealthy” is typically used to describe a person (or family) who has a lot of money and/or possessions.  I think there is more to being wealthy than just having a lot of “stuff” (or at least more than your brother-in-law).  Consider this scenario, if someone has money and material possessions worth $10 million, but has […]

Filed Under: Spending

Free Credit Reports

| April 22, 2015 | 0 Comments

Consumers need to protect their credit at all times.  The better someone’s credit score is, the lower the cost to borrow money.  The lower the cost of borrowing, the more money the borrower gets to keep.  Credit reports are important for more than simply borrowing money.  Poor reports can affect job applications and apartment requests […]

Filed Under: Spending

10 Signs You Are Not Saving Enough

| July 24, 2014 | 0 Comments

Some people are naturally inclined to save more for the future.  These people are able to focus on delayed gratification rather than impulsive purchases.  For the rest of you, here are a few ways to tell if you are not saving enough. If your kids’ allowance is bigger than your monthly savings, you are not […]

Filed Under: Spending

How Much Should I Save in My Emergency Fund?

| February 10, 2014 | 0 Comments

What is an Emergency Fund? Everyone interested in creating financial stability in their lives should strive to have a fully funded emergency fund in place.  The main purpose of this fund is to cover your living expenses if you are unemployed.  That’s it.  After funding the account, you can essentially forget about the money in […]

Filed Under: Spending

What Are We Teaching Our Kids?

| September 30, 2013 | 0 Comments

I was waiting in line recently and overheard three parents talking.  The first one said, “My kids think money grows on trees”.  The second one replied, “I know, they think I’m an ATM.  They don’t get it.”  Oddly, the third one said, “My horse thinks I’m made of money”.  I doubt I can help the […]

Filed Under: Spending

What is Compound Interest?

| July 31, 2013 | 0 Comments

Compound interest is interest that adds onto the principal and the previous interest earned.  Simple interest only accrues on the principal and not previous interest payments.  Compound interest grows much faster than simple interest because it is earned (or paid) on a rising balance.  The more frequent the interest is compounded, the quicker the balance grows. When […]