Getting into Debt Is Simple The road into the misuse of credit is wide, broad, simple, easy, accessible, effortless, uncomplicated, painless, spacious, available and trouble free. However, there is no quick and easy way out from under a heavy debt load. With debt, in essence, you slide in and climb out – easy to get […]

Compounding Year after year, any money you invest may earn interest, dividends or capital gains. When you reinvest those earnings, they help generate additional earnings; those additional earnings help generate more earnings, and so on. This is called compounding. For example, if an investment returns 8% a year and its earnings are reinvested annually: · […]

The Best Time to Begin Saving When should you begin saving? As early as you can. If you start at 25, and put away $25 a month, you could reach $300,000 by age 65. If you wait until 45, that $300,000 at 65 may cost $300 a month. Remember the rule of 72. This tells […]

Simple Saving Rewards You can receive financial rewards by saving and by personal discipline! It isn’t easy to save! It takes a commitment to start saving and sticking to it. Something else will always be waiting to take your money. But no one else will save for you, so you have to do it for […]

Track Your Expenses Track your expenses. Keep a running balance sheet of every expense and pinpoint areas where you need to cut back. Use a notebook to record the amount and category of each purchase no matter how small. Include check and credit card purchases also. Do this every day for 3 months. Total each […]