Financial Health Vital Sign #6: Insurance
The sixth financial health vital sign is your insurance coverage. Insurance serves as your protection in the event of unexpected expenses such as a medical procedure or a car accident. Insurance protects you against sudden shocks to all of your other financial vital signs allowing you to preserve your financial health.
January 4, 2021
Financial Health Vital Sign #5: Credit Score
The fifth financial health vital sign is your credit score. Your credit score is your gateway to accessing constructive credit opportunities (such as a mortgage) at inexpensive rates. Having strong credit means you will pay a lot less interest whenever you borrow money which can save you tens of thousands of dollars over your lifetime.
December 18, 2020
Financial Health Vital Sign #4: Debt
The fourth financial health vital sign is your debt. Debt can be either constructive or destructive to your financial situation depending on what is used for and how much total debt you have in relation to your income. We take a closer look at the good, the bad, and the ugly of debt as it relates to your financial health.
December 11, 2020
Financial Health Vital Sign #3: Assets
The third financial health vital sign are your assets. Assets are everything you own that is of monetary value. These represent 50% of your net worth equation and can appreciate or depreciate in value over time. Most importantly, they can also provide a financial cushion for you in more challenging times.
December 4, 2020
Financial Health Vital Sign #2: Cash Flow
The second financial health vital sign is cash flow. Cash flow measures your inflows against your outflows to give you an idea of how you are spending your money. Optimizing for positive cash flow is one of the single best habits to develop to take care of the other financial health vital signs.
November 27, 2020
Financial Health Vital Sign #1: Income
The first financial health vital sign is income. Income is the lifeblood of financial health that allows you to fulfill financial obligations, pay off debts, save money, etc. And regardless of how much you make, what you do with your income matters the most.
November 20, 2020
What is Financial Health?
This article covers exactly what financial health is and outlines six financial health vital signs you can use to measure and improve your financial health over time.
November 12, 2020
How to Use Credit Constructively
Once you have established good credit, it is then important to consider what you choose to do with your credit. We cover some of the key considerations of using credit for your life and the benefits available to you as a result of good credit.
November 10, 2020
How to Maintain Good Credit
The road to credit health doesn't stop at just building credit. It is imperative that you consistently maintain good credit so that you can have access to low-interest financial products in the future such as auto loans or mortgages.
November 9, 2020
How to Build Credit Simply
Whether you are building credit for the first time or trying to improve your credit score, this article covers everything you need to know about building credit and the various methods to ensure your credit health.
November 8, 2020
What is Credit? - Understanding Credit
Credit is the ability to borrow money from a lender to purchase goods or services with the implied agreement that you will pay it back in the future. This article covers in-depth about the ins and outs of credit including interest rates, types of credit, what constitutes your credit score, and more.
November 7, 2020
What If I Can't Afford to Follow the 50-30-20 Rule?
The 50/30/20 rule is easy to follow in theory, but in practice it can be a lot more difficult. There may be stressful times where you can only afford a 100/0/0 plan and that's OK. We look at the alternatives to a hard and fast 50/30/20 mindset to adjust to your financial journey.
November 2, 2020
A Complete Guide To Credit Card Late Fees & Refunds
Did you make a credit card payment late? If so, you can expect credit card late fees. Here's what to expect and how to avoid late payment penalties. The good news is you can also get late fee refunds.
October 30, 2020
SYNCB/PPC: What Is It And Why It's On Your Credit Report
SYNCB/PPC stands for Synchrony Bank/Paypal Credit. Between the two organizations, they supply over 116 different credit cards that are partnered with various popular retailers. We dive into why this acronym will show up on your credit report and what to do if it is there by mistake.
October 14, 2020