Saving for Your Child’s College Education

The minute you bring your little bundle of joy home, thoughts of their college education begin looming in the back of your head. You only want the best for them – good school, great education, a rewarding career. But between skyrocketing college prices and your need to prepare for retirement, how can you save enough for your child’s education? After all, you still have everyday expenses, too.  Keep reading to learn four baby steps to save for your child’s college education.   Start small, start early. For example, when your child is born, if you put aside $150 each month until they are ready for college, the balance would be over $32,000 by the time they reach 18. And that doesn’t even include all the compound interest you’ll be earning over 18 years.…

June 5, 2020Wallet Wins No Comments
Saving for Your Child’s College Education

The minute you bring your little bundle of joy home, thoughts of their college education begin looming in the back of your head. You only want the best for them – good school, great education, a rewarding career. But between skyrocketing college prices and your need to prepare for retirement, how can you save enough for your child’s education? After all, you still have everyday expenses, too.  Keep reading to learn four baby steps to save for your child’s college education.   Start small, start early. For example, when your child is born, if you put aside $150 each month until they are ready for college, the balance would be over $32,000 by the time they reach 18. And that doesn’t even include all the compound interest you’ll be earning over 18 years.…

Grow Your Savings or Eliminate Debt? 

Which would you rather do in the next few months? Pay off your credit cards, or build interest on the money in your savings? Most people would choose the latter option. Making more money on your savings appears to be the most stable financial option.   The problem with this scenario is that you may end up paying more interest on your credit cards than what you will make in interest on your savings. This can result in you losing more money overall by postponing paying off your credit card bill.  Understand Your Credit & Savings Interest  Most financial planners will tell you upfront to get rid of…

May 14, 2020Wallet Wins 1 Comment
Grow Your Savings or Eliminate Debt? 

Which would you rather do in the next few months? Pay off your credit cards, or build interest on the money in your savings? Most people would choose the latter option. Making more money on your savings appears to be the most stable financial option.   The problem with this scenario is that you may end up paying more interest on your credit cards than what you will make in interest on your savings. This can result in you losing more money overall by postponing paying off your credit card bill.  Understand Your Credit & Savings Interest  Most financial planners will tell you upfront to get rid of…

How to Create Financial Goals You’ll Actually Follow

Studies have shown that people who clearly define their goals, whether it’s losing weight or gaining a new position at their workplace, have a better success rate than those who just wing it.  There’s an easy acronym you can use as a formula for success in setting objectives for a big goal:  Specific Measurable Achievable Realistic Time-Bound  It’s no different for financial goals. Do you want to own a new home, take a European vacation or put your kids through college? Whatever your personal financial goals are, preparing a plan is the first step toward achieving success. Here are some tips…

May 13, 2020Wallet Wins 2 Comments
How to Create Financial Goals You’ll Actually Follow

Studies have shown that people who clearly define their goals, whether it’s losing weight or gaining a new position at their workplace, have a better success rate than those who just wing it.  There’s an easy acronym you can use as a formula for success in setting objectives for a big goal:  Specific Measurable Achievable Realistic Time-Bound  It’s no different for financial goals. Do you want to own a new home, take a European vacation or put your kids through college? Whatever your personal financial goals are, preparing a plan is the first step toward achieving success. Here are some tips…