People should think about several facets of planning beyond budgeting and paying bills to achieve true financial wellness. Financial planning involves covering current obligations, saving for the future, eliminating or minimizing debt, and creating a budget. While those aspects are essential, planning differs from overall financial wellness, which encompasses your entire economic life and uses planning tools as building blocks to get there. Here are four ways the two differ.
Author: Deb
Loan Repayment: What’s the Difference Between Principal and Interest?
People have two options when they want to buy something they can’t afford to purchase entirely with cash: borrow the money or save up the funds for later. While seeking out a loan is a viable choice, remember that debt has two distinct parts — the principal and interest.
3 Ways Practicing Delayed Gratification Might Help You Save Money
In the world of technology, where information is at your fingertips, and you can have pretty much anything delivered right to the door, it’s easy to get lost in the sea of instant gratification. But doing so can come at a high cost. Delaying gratification can help pay for things with cash rather than living beyond one’s means. Incorporating some delayed gratification practices might also mean the difference between whether or not you can even retire. Here are three ways the technique can help save you money.
3 Smart Ways To Pay Off Student Loans
In 2022, the national Chamber of Commerce released data concerning student loans indicating that the average balance on student loan debt hovered around $37,000. That amount could be daunting to any former student, and the obligation’s long-term nature can impact a person’s financial wealth. Paying down loans as soon as possible can positively affect an individual’s money situation. Here are three smart ways to rid yourself of student loan debt for good.
3 Reasons To Comparison-Shop Banks
Choosing where to keep money is a big decision. Luckily, technology has brought with it lots of competition benefitting you, the consumer. Banks can differ significantly in their offerings, services, and charges, so looking at several and comparing features becomes key. Similar to buying groceries, knick-knacks, and even cars, comparison shopping is crucial to obtaining the best value and features. Here are three reasons why choosing a bank this way is so important.