Category: Saving
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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
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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