Tag: budgeting
Debt Payoff: What is the Avalanche Method?
Avalanche method is a debt payoff strategey focusing on your highest interest rate debt first. First, you organize your credit cards by interest rates from highest to lowest. The amount of debt you have on each credit card, does not matter. Pay all of the minimums and put any extra money towards the credit card…
Debt Payoff: What is Snowballing?
Snowballing is method of paying off debt. It allows the person to have pyschological wins to continue the grind and hard work of paying debts. Take all of your debts and line them up but the amounts owed from smallest to largest. Start to pay all of the minimums to avoid fees and put any…
Best Online Savings Accounts: May 2024
The best online saving accounts normally offer higher interest rates than traditional savings accounts and traditional banks. At many online banks there are high-yield savings account options,The lower maintence costs of not having actual bank location allows the higher interest rates to be offered. The downside of an online bank is not being able to…
Save Money: Top 3 Ways
Learning to use creative ways to save money will help yourself to increase savings and investments for your future. There are multiple ways to reach goals for investments and savings from imaginary bills, side work, and taking advantage of employee match programs. Imaginary bills An example would be if your rent is $1,500 now, but…
Zero-Based Budgeting
Zero-based budgeting is income minus expenses will equal zero monthly. Tracking your expenses weekly or monthly are good options to keep a consistent personal budget. Start by gathering all your credit card statements and bank accounts to track expenses. Review multiple statements, looking for your bills and when they are due. Understanding each statement and…
30% Rule
The 30% rule is keeping housing below 30% of your after-tax income. Understanding what you can afford and giving yourself a budget when looking for somewhere to live is a good place to start. Follow that up with finding places below your top end and find what the best option for you is. Depending on…
