Much of today’s financial advice tends to center around buying a home. Yes, homeowners experience various fiscal benefits, such as building equity and potentially earning a return if they sell the property. However, not everyone is ready to become a homeowner – nor is it the best option for all.
Life in your twenties can be exciting and full of new opportunities. There are many milestones young members might cross off their lists during this period: graduating college, beginning their careers, getting married, and even starting families. While long-term financial goals might seem a lifetime away, the decisions you make today can significantly impact your future fiscal success.
A significant part of managing your finances well is your ability to plan for the future. While you can’t predict every curveball life will throw at you, being prepared, setting goals, and constantly working to better your financial position are crucial steps to your success.
The ability to buy a product or service now and pay for it over time is nothing new. It's the same concept that made credit cards one of today's most popular forms of payment. Yet everywhere you look lately, from grocery stores to online retailers, there is a “new” way to pay: Buy Now, Pay Later (BNPL).
Debt often seems like a four-letter word - something everyone should do their best to avoid. It’s been a wild ride for everyone, but younger Millennials and older Gen Z have been hit especially hard. As a result, debt has earned the reputation of being something to avoid at all costs. But it may not be as simple as that.
The best way to achieve financial milestones is through a budget. But creating a budget and sticking to it are two entirely different things. While on paper, you may have the perfect plan to meet your monthly expenses and grow your savings, in reality, life happens.
While the ability to transfer money between accounts is convenient, maintaining multiple accounts can become challenging – especially if you have several accounts. If you stop using an account for a while, what happens to it? Better yet, what happens to the money in there?
Enrolling in college can often feel like a double-edged sword. It can be an excellent investment in your future and provide you with more opportunities throughout your professional career. On the other hand, the costs can be high – forcing you to rely on student loans to cover at least a portion of the expenses.
While student loans are the most popular way to fund a college education, it’s important to remember that you’ll eventually have to repay what you borrow – plus interest. It’s better to have a plan to reduce any possible expenses while in college to limit the amount you do finance.
It’s no secret that a budget is one of the best ways to set yourself up for financial success. With a traditional budget, you can see how much money you have and know exactly where your money is going.
