Should I Refinance or Not?

If you have some form of debt (student loans, car loan, mortgage, etc.), refinancing may have crossed your mind a few times. So what exactly does it mean to refinance? To refinance means to replace your existing debt agreement with a new debt agreement that you believe is more favorable. A lender will pay off…

Simple Method to Save for Vacation

So you have been working hard, and would like to take a break to go on a vacation, but your finances say otherwise. Right now, you simply cannot afford a vacation. What do you do? Assuming that you already have a budget, my recommendation would be to assess your spending categories to see what expenses…

Is it Beneficial to Get a 529 Savings Plan?

Have you ever heard of a 529 Savings Plan before? If not, then you are in luck. I will share an overview of a 529 Savings Plan, and hopefully you will acquire the basic knowledge to see if this may be an option for you to add to your list of investments. So what is…

Credit Card 101

Simply enough, we have all heard of credit cards, or most of us already own one (or multiple!). But do you fully understand how a credit card works? Some people use a credit card as their primary method of paying for items, while others use it sparingly for special purposes. A credit card isn’t your…

Should I Cosign for a Loan?

You have worked so hard on building a good financial reputation. You have saved some money, you have been responsible with managing your debts, you have maintained a good to excellent credit score, and you feel like overall, your financial future looks bright. Your family member or a friend asks you that since you have…

The Importance of Beneficiaries

An important step in managing your money, is to assign a beneficiary or beneficiaries to your eligible financial accounts, such as your insurance policies, investment accounts (401K, Mutual Funds, HSA), and banking accounts. Assigning your beneficiaries give you full control of deciding who gets your assets (funds held in your financial accounts), should something happen…

Easy Bill Paying Technique

I want to share a short and simple post on a technique that I use to pay some of my bills. The example that I will use for this post is an electric/heating bill, since most people have to pay for electricity/heating if you live in the United States. Each month, the bill that you…