Eliminate Credit Card Debt
(This is a continuation of the lesson debt reduction.)
Its time to Eliminate Credit Card Debt.
If you currently have credit card or other debts you may be wondering which ones to pay off first. There are two schools of thought. You should decide which one works best for your situation.
High-First Method:
Ideally, you should eliminate credit card debt with the […]
Mortgages & Debt Consolidation
In this lesson we will cover mortgage basics, mortgage calculators, and debt consolidation. Mortgages are a fact of life for most people. If you are going to own a home, you will probably need a mortgage. The word mortgage is derived from the French word “Morta” meaning death; or payment until death! It sounds depressing, […]
Debt Consolidation
Debt Consolidation
(This is a continuation of the lesson about Mortgages and Debt Consolidation).
Debt consolidation is a tool that can be good or bad. So, any consideration of a debt consolidation loan should be used with caution.
The advantage of combining all of your debts into one payment is that it can significantly reduce the minimum payments […]
Investments
The key to choosing investments is to understand that: the higher the risk, the higher potential return. However, riskier investments also have a higher potential loss.
What is Your Risk Tolerance?
So, before investing, you first need to determine what your risk tolerance is. Your risk tolerance is how much risk you are willing to live with […]
Types of Investment Accounts
Types of Investment Accounts
(This is a continuation of the lesson: Investments).
Now we will discuss how to actually purchase investments. Typically, in order to purchase different types of investments, you will need to open up an investment account with your bank or an investment brokerage firm. Here are the typical accounts that you can open:
Individual investment […]
Types of Investment Accounts
Types of Investment Accounts
(This is a continuation of the lesson: Investments).
Now we will discuss how to actually purchase investments. Typically, in order to purchase different types of investments, you will need to open up an investment account with your bank or an investment brokerage firm. Here are the typical accounts that you can open:
Individual investment […]
Wealth Protection
After working diligently to improve your credit and build a retirement nest egg; it is important to protect both your wealth and yourself from identity theft or other financial disasters. In this lesson we will review different types of insurance and protection that are available, and how and when to use them.
Insurance is available for […]
Identity Theft Protection
Identity Theft Protection
(This is a continuation of the lesson: Wealth Protection).
With the advancement of technology, the way we manage our money has also advanced. Unfortunately, the ways in which dishonest individuals try to steal personal information has also become increasingly sophisticated. In order to protect your identity and financial information, implement these guidelines:
Shred bank and […]
Entrepreneurship
In previous lessons we have discussed how to budget, save, and invest the money that you earn. But, what if your current job is not providing you the income level that you need to retire on? There are many ways to increase your income, such as, getting a different job or getting multiple jobs. However, […]
Review
In this lesson, we will review what you have learned in the previous 8 lessons. Although there is no new material in this lesson; reviewing your finances is something you should continually do.
Lesson 1: How to Budget and build Net Worth
The important thing to get from this lesson is that the more money that is […]