Author: Mindy
-
Debt Payoff
Debt payoff is an important step in any financial plan, but depending on what type of debt you have and how much debt you have will determine where it makes sense to prioritize debt payoff in your financial plan. Types of Debt Debt can be categorized a number of different ways, but for our purposes,… Read more
-
Hierarchy of Savings
With financial planning, as with many things, you want to get the biggest ‘bang for your buck’! So, the idea behind the hierarchy of savings is that, at any point in time, you may not have enough ‘extra’ money after covering your monthly expenses to touch on all the possible savings avenues, so which should… Read more
-
The Time Value of Money
Given the option, would you take $100 today or $100 in 1 year? I’m guessing you said you’d take the money today, which means you’re already following the tenants of the time value of money. The idea of the time value of money is that money received today is “worth more” than money received at… Read more
-
Where is your money going?
When most people hear the word budget, they cringe. Preparing and following a budget can be difficult, so oftentimes people put it off or skip it altogether. There are many different budgeting methods. I’ve heard of the 50/30/20 method, the envelope method, the zero-based budget, the pay-yourself-first budget… and many more. It doesn’t matter what… Read more
-
Personal Financial Planning… Your Roadmap to Financial Independence
If you were going on a road trip to somewhere you’d never been before, would you hop in the car and start driving in that general direction? Would you figure you’d make a plan when you got closer to your final destination? Would you just hope you would make it there eventually? Probably not. You’d… Read more