A Financial Literacy Blog for All
The Debt Snowball repayment method will always cost you the same or more interestA charge for borrowing money, most often based on a percentage of the amount owed. More than the Debt Avalanche method if you have more than one debt and they have different …
Not all debt is bad! The specific definitions of good debt vs bad debt will vary from person to person. For people who plan to retire very early and live on a limited income or for people who know that they have a hard time …
The best way to pay off your short-term and revolving debtA source of debt, such as a credit card or line of credit, with a stated maximum against which you can borrow and can re-pay at your discretion. More depends on your priorities and what …
Credit cards are a terrific convenience but also can be very costly. Effective use of a credit card can make life easier and improve your credit score. On the other hand, credit cards are an example of bad debt. It is easy to buy more …
From Susie Q: I’m not as familiar with student debt as I am with the other topics on which I write, so was pleased to accept this guest post from Kate Underwood. With Kate’s permission and approval, I’ve interspersed some comments and numerical examples in …
Loans are the financial instruments people use to borrow money. Whether they are getting a mortgage to buy a house, borrowing money to buy a car (as opposed to leasing or paying cash as discussed in this post), or other large purchase, not paying off …
Credit scores are one of the most important financial numbers. Credit scores not only affect the interestA charge for borrowing money, most often based on a percentage of the amount owed. More rateThe percentage which, when multiplied by the face amount or principalThe amount of money you borrowed or deposited, excluding any accumulated interest. Some examples include:
• Credit cards: The amount of purchases you have made but not paid on your credit card ... More of a financial instrumentAny investment that you purchase. Examples include an exchange-traded fund, a mutual fund, stock in an individual company, a bond and a money market fund. There are also many more complex financia... More, such as a bondA form of debt issued by government entities and corporations. More, savings account or loan, determines the amount of interest …
This week, I’ll conclude the case study about Mary and her savings. Her last question focused on whether to pay off her student loans. The considerations include: The interestA charge for borrowing money, most often based on a percentage of the amount owed. More rateThe percentage which, when multiplied by the face amount or principalThe amount of money you borrowed or deposited, excluding any accumulated interest. Some examples include:
• Credit cards: The amount of purchases you have made but not paid on your credit card ... More of a financial instrumentAny investment that you purchase. Examples include an exchange-traded fund, a mutual fund, stock in an individual company, a bond and a money market fund. There are also many more complex financia... More, such …
InterestA charge for borrowing money, most often based on a percentage of the amount owed. More is a basic financial concept. It applies anytime you borrow money or someone borrows money from you. You pay InterestA charge for borrowing money, most often based on a …