Why You Need to Pay Yourself First

 “Do not save what is left after spending; instead spend what is left after saving.” ~ Warren Buffett Putting money in savings before you begin to plan for other expenses is called Paying Yourself First. No matter how you save or the amount of money you save, this is one of the most fundamental saving concepts. Saving […]

Are You Prepared For a Financial Emergency?

What constitutes an emergency?  You will have your own definition of an emergency. For some families, a relatively small, unexpected expense, such as a car repair or a modest medical bill, can pose a financial hardship.  A study by the Federal Reserve System in 2019 found that 40% of Americans would struggle to come up with […]

Change Your Financial Situation with These 6 Steps

Best practice is about leveraging what other people have done, and using it to improve your own situation. Below are six ideas to think about when saving: Start Small – Rather than trying to save an unattainable amount each month that will prevent you from meeting your financial obligations, begin with a more manageable amount based […]

Compound Interest – The 8th Wonder of the World

Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it”. Understanding Simple & Compound Interest Interest is the cost of using somebody else’s money. When you borrow money, you pay interest. When you lend, or invest, money, you earn interest. Interest is […]

Developing a “Saving Money” Mindset

Let’s face it, creating and maintaining a money saving mindset can be difficult.  Developing a “Saving Money” Mindset It may not be easy. It may mean making difficult decisions. It can take time. It requires discipline. But the benefits can be life-changing and provide you with a certain sense of security and peace-of-mind. It is […]