Today’s Financial Message Just for you, {{ first name | Friend}}
Curb impulse purchases with the power of sleep. This simple strategy can significantly reduce unnecessary spending. Sleep on it, don’t buy it on a whim. Impulse purchases... Continue Reading
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Should You Pay or Keep Debt? Compare the Two & Check the Benefits
Deciding whether you should pay or keep debt is a huge decision.
On one side, if you pay off your debt, you are debt free and have more disposable income that can be used for other financial goals.
On the other hand, the money that goes towards paying off debt could be used for savings and investing. This could provide you with a bigger return.
One isn’t better than the other, because it depends on where you are and which option is right for you. Let’s take a look.
A thought: Before we get into the benefits of whether you should pay or keep debt, something everyone should consider up front is the interest rates.
If you choose to save your money in say, a Certificate of Deposit that earns you an average of 2% interest, instead of paying off a credit card debt at 22% interest, you will be paying more money in interest than you would be saving. Make sure to check these details as you make this decision!
7 Simple Strategies to Help You Pay Off Your Mortgage Faster
One of the largest and most common debts people will ever have is their mortgage.
Anyone who has dealt with this type of loan knows it takes decades to pay it off. Plus, during that time, you’re dealing with interest on top of your principal…meaning your mortgage costs more.
While you can definitely follow the traditional 30-year mortgage payment, there are ways to pay off your mortgage faster with these seven strategies.
Today’s Affirmation
Making money is a rewarding activity that benefits me and the people around me. Money empowers me to chase after my dreams. I put in the effort to... Continue Reading