Before we begin setting aside money for retirement, investing, or saving up to buy a house, the first step in everyone’s path to financial independence needs to be building up an emergency fund. The purpose of a rainy day fund is essentially as it sounds; sooner or later it’s going …
An IRA, otherwise known as an Independent Retirement Account, is the only non-employer-sponsored retirement account available. Opening up an IRA should be one of your first priorities after filling up your rainy day fund. We all want to be saving up for our own place, but contributing to an IRA …
Budgeting as a concept means creating a plan for how much money we are going to spend over some set amount of time, say a month. This allows us to see at a glance how much money we may be bringing in, how much money we are spending, and how …
Being in my mid-20s, I speak to friends also in their 20s all the time about starting to save for retirement. In the vast majority of these conversations, most people tell me that if they have any kind of savings, retirement savings are the last thing on their mind and …
CDs, otherwise known as certificates of deposit, are a variable length guaranteed investment vehicle. When you buy a CD, your money is tied up for a fixed period of time. In exchange for this, the seller of the CD, usually a bank, agrees to pay you a certain interest rate …
There are a great deal of financial acronyms and terms that are commonly thrown around when discussing money and investments. Whether it’s APY, IRA, or IPO, for those of us not used to reading about finance it can be fairly confusing. I would hate for you to accidentally donate to …
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