How to Build Your Wealth in Your 20s
It might seem like you won't be able to achieve financial goals when you're in your 20s. After all, according to a study, the average Gen Z consumer has over $10,000 worth of debt. As they age, the average Millennial has over $27,251 in debt. However, this doesn't...
What Does Financial Stability Really Mean?
Financial confidence is a concept that people often define as being able to live in a financial position where they don't worry about money, whether they have a job or not. Stability is a concept that people often define as being able to control their finances and...
Benefits of a Concentrated Portfolio
Diversification has been a standard component of portfolio construction over the past 50 years. We will likely see more investors shifting toward more concentrated strategies in the financial industry over the next few decades. Here are the benefits of a concentrated...
What Is a Bear Market?
A 16th-century proverb says it's not a good idea to sell a bear's skin before it can be caught. This is one of the reasons why Wall Street types often refer to people who sell a stock as a "bear" when the price of the asset declines. What is a Bear Market? The term...
Why Millennials Are Being Blamed for Inflation
The rising cost of living puts investors on edge and raises fears of a recession. This week, the government reported that consumer prices in the US increased by 9.1% in June. Janet Yellen, the head of the Federal Reserve, said that inflation is too high. The rising...
Small Ways to Improve Your Credit Score
There's no timeline for rebuilding your credit. How long it takes to boost your credit scores relies on what's hurting your credit and taking steps to rebuild it. The specific actions that can help you improve your credit score depending on your unique credit...
What If Your Partner Spends Beyond Your Joint Budget?
The first rule step to getting your funds in order is to develop a household budget and spending strategy based on a practical examination of your income, expenses, wants, and needs. It can be frustrating when you take all the necessary frugal steps only to find that...
The Importance of a Backup Budget
With inflation rising and COVID-19 still prevalent worldwide, funding and risk capacity have become unpredictable. This article will introduce how a backup budget can be a helpful resource for accurately measuring risk capacity. What is a Backup Budget? A Backup...
What Is Inflation and How Does it Affect You?
When you hear the word inflation in relation to economics, you may get worried. However, a normal amount of inflation is necessary for an economy. Healthy economies generating inflation is actually a good thing when it’s minimal. Growing about 2 percentage points...
Tips for Saving For Your Next Vacation
loves talking about and planning their next vacation. However, the most challenging part of planning a vacation generally is setting aside the money to have all that highly anticipated fun. Having a financial plan in place ahead of time can allow you to save up for...