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!
When you start looking for financial advice (or any kind of advice, for that matter), experts will share their take on what’s “good” and what’s “bad.”
In personal finance, there are some classifications that we can all agree on: Debt is bad.
Emergency funds are good. Overdrawing your account is bad. Earning interest on your savings is good.Read More
Budgets are like the New Year’s resolutions of personal finance.
We all know we should have one and we all know it’s a fairly simple thing to follow—at least in theory. Like resolutions, we often map out personal budgets with the best of intentions, only to abandon them a couple of weeks later.
What was the very first financial choice you ever made?
Think about it: it likely took place before your first job, even as far back as when your annual income consisted of Tooth Fairy money and lucky pennies. The very first financial decision you ever made is also one of the most important choices—it’s where to keep your money.
You’ve likely heard about credit scores before (thanks to all those commercials with terrible jingles), but what do you actually know about them?
How long have they been around? And what’s the deal with checking them? A credit score is a number (usually between 350 and 800) that represents your creditworthiness.Read More