Today’s Financial Message Just for you, {{ first name | friend}}
Trying to handle every single thing as a small business owner can really backfire. It’s not just costly; it’s super stressful to go it alone. When you try to come up... Continue Reading
Hot Reads
The Power of Compound Interest: How it Works, the Good & the Bad
Compound interest plays a huge role in our lives, whether we have existing debt or are working on investing our money.
It can make paying off a loan significantly harder or help you become comfortable when you’re ready to retire. But to really understand compound interest, you need to know its power – from the good to the bad.
What is compound interest?
To understand compound interest, key aspects of the definition need to be broken down.
First, compound interest will apply to loans or investments. There is a principal amount (The base amount.) and interest associated with your loan or investment. All of these things have a factor in understanding compound interest. …
Line of Credit vs. Credit Card? The Key Differences & Benefits
When you need to purchase something but don’t have the cash to pay for it, what do you do – get a line of credit, or a credit card?
In many developed countries, the first answer seems to be “use a credit card”. In the US, 82% of adults have a credit card. In other countries, such as Canada, the share is even higher.
When it comes to borrowing money, credit cards present a paradox. They are easy to qualify for and even easier to use. But at the same time, most of them come with relatively high interest rates.
Using Federal Reserve data, CNN reported the average credit card interest rate in 2024 at 22.63%. Compared to most other forms of credit, that’s an incredibly high interest rate. If your credit score is average or better, you’ll get much better rates…
Today’s Affirmation
No more putting things off for me - I’m all about action now. I’ve got a clear idea of what I need to do today to turn my future dreams into reality. Every week, I take time... Continue Reading