Needs vs. Wants Do you know the difference between needs vs. wants when it comes to finances? There’s a huge difference. Let’s start with needs. A need is something you absolutely have to have in your life. A need could include a place to live, …
Read MoreAttitude Towards Money
Attitude Towards Money What is your attitude towards money? Do you see it as a tool? Do you see it as a way to do retail therapy? Does money make you happy or sad? Does it make you secure or stressed? How do you feel …
Read MoreEmergency Fund
Emergency Fund It Is essential for you to have an emergency fund if you don’t already have one. Why? What if you hit a pothole and need a new tire? Suppose something in your house breaks and you have to fix it? How about an …
Read MoreWhat is Debt?
What is the Cost of Debt? What is the cost of debt? Debt is defined as a commitment to someone else. The someone could be an individual or an organization such as a bank or company. It is something that one is usually obligated to …
Read MoreShould you get a 0% credit card?
Should You Get A 0% Credit Card? Should you get a 0% credit card? I see offers of balance transfers to a 0% credit card all the time. I get asked should you get a 0% credit card and transfer your balance? My short answer …
Read MoreFixed vs Variable Expenses
Fixed vs Variable Expenses Do you know the difference between fixed vs variable expenses? If not, it’s essential when creating your budget. Fixed expenses are monthly expenditures that stay the same. For example, your rent or mortgage payment would be a fixed expense. It stays …
Read MoreVariable Monthly Income
Variable Monthly Income How can you budget effectively if you have a variable monthly income every month? What is a variable monthly income? For example, let’s say you work on commission and your income varies from month to month? Or what if you’re a restaurant …
Read MoreCredit Card Debt
Credit Card Debt Are you paying off credit card debt? Do you have a lot? If you’re not paying your credit cards off, you should be. Do you have a plan to pay them off within three years? It doesn’t matter if you owe $100 …
Read MoreFreeze Your Credit Reports
Freeze Your Credit Reports There are three credit reporting agencies, Equifax, Experian, and TransUnion. You should make sure to freeze all your credit reports at all of them. Why? Identity theft and/or fraud. Scammers can’t get credit in your name using your personal information if …
Read MoreHigh Interest Savings Account
High Interest Savings Account You may have heard me mention that I use a high interest savings account for my liquid savings. I use this account for things like my emergency fund and other monies that I don’t need right away. It’s used for more …
Read More