Your credit score is an indicator of your financial power. When you first start having any financial activity such as opening a bank account, applying for a credit card, a loan, and so on, that is when you start to build your credit score. What does it represent? It represents your credit worth and an indicator of how responsible you are financially. According to Experian, credit score ranges are as follows: Excellent: 781 to 850 Good: 661 to 780 Fair:…
I’ve had my share of good investments and bad investments. Some investments really did work out for me and some did not but I call that learning experience. The reason I’m writing this post is because Apple recently announced a 4-to-1 stock split to take effect in August. I wrote in an earlier post that I started investing in more tech stocks because of the way the Covid-19 pandemic impacted us and how I saw that technology was being relied…
Having a family is great! Trying to retire early with a family is difficult. The needs of my family changes every day every year. One of the needs that I keep in the back of my mind is how do I afford college for the children while trying to retire early? I have 7 years to figure it out and it’s one of the biggest expenses along with my mortgage. I’ve done some research on 529 plans and I know…
You probably have heard the saying Every Penny Counts or A Penny Saved Is A Penny Earned but a penny is so little. How can a penny these days make a difference? Well, the saying emphasizes that even the smallest amount is important. Have you ever looked at your grocery receipt and said I thought this item was on sale or was cheaper than what it rung up for? Did you ever experience not getting the special that was advertised?…
Right now, it’s a great time for me as a father because my daughter is at the age where she is comprehending the value of money and is asking a lot of questions. A couple of days ago while going to her lacrosse practice, we got on the subject of whether to buy a new car. We were driving and saw some old trucks and I said that those cars are older than ours and still running. I have an…
Goals are those milestones you want to reach in the timeframe you set yourself. There are many types of goals you will set in your lifetime such as career goals, financial goals, family goals, travel goals, etc. Setting goals and plans is key to achieving financial independence but you have to be strategic about it and develop a plan. In my early years, I always had a dream about becoming rich, hitting the jackpot. Yes, that is a goal but…
Many of you probably have heard that to make a good wage you have to go to school, get good grades, graduate, and work for a company. Sounds pretty straightforward and I, too, was taught this from an early start. We graduate from high school, college, masters, or doctorate, and once education is completed, you head out to the working world to use your educational knowledge to earn an income. There are essentially 3 types of income sources: Earned Income,…
Anyone in their 40’s going through what I’m going through? Anyone feel like they’re going through a mid-life crisis? Anyone reminiscing the good ol’ days? Anyone looking at the younger generation and wish we were that young again? Anyone hooked on watching”van life” videos? There are so many things that have been going through my mind and I’m wondering what is going on! Mid-life crisis! I watched movies back in the days where middle aged men would go out and…
Creating multiple income sources can help you reach financial independence which means reaching a state where you have enough income to live off for the rest of your life. Depending on your lifestyle and depending on your goals, how you get to financial independence differs from one person to the other. One might say they want to build as much savings as possible and live off of that. Another might want to get to a state to comfortably replace their…
Rewards programs are great and essential to saving you money! I leverage a number of rewards programs whether for travel, cash back, store credit, or other points. Businesses are competing for your business and will want to keep you shopping with them. Before you commit to a rewards program, keep these in mind before signing up. Will The Business Be Around? A number of businesses are closing during this pandemic because of the economic impacts. If a business files for…