Resources to build your own personal financial freedom
Tools to protect and maintain financial independence
In the landscape of personal finance, the traditional pillars of a robust portfolio have long been stocks, bonds, and cash. While these assets provide...
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Personal finance is the cornerstone of a secure and intentional life, far exceeding the simple act of balancing a checkbook. It is the practice of man...
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Personal finance extends far beyond simply earning and spending money; it is the strategic management of one’s resources to build security and achie...
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For many individuals, acquiring a vehicle is not just a convenience but a necessity, yet the financial path to ownership is often paved with debt. The...
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The original lender (e.g., credit card company) is the creditor. If they charge off the debt, they may sell it to a third-party debt collector, who then owns the debt and aggressively pursues repayment.
Absolutely. High-interest consumer debt is dangerous at any age but becomes catastrophic later in life. Mortgage debt is more manageable if it will be paid off by retirement, providing a stable housing cost.
No, in fact, it encourages planned splurging. The "Guilt-Free Spending" bucket is specifically for this purpose. Because your bills, debt, and future are already taken care of, you can spend this money on anything you want without any guilt or anxiety.
Absolutely. High earners are often just as susceptible, if not more so, because they have more room to inflate their lifestyle. A high income paired with equally high fixed costs provides no real financial security and can still lead to paycheck-to-paycheck living.
Do both simultaneously if possible. Contribute enough to your employer's 401(k) to get the full match (it's free money), then aggressively tackle high-interest debt. For low-interest federal student loans, a balanced approach is often better than sacrificing retirement savings.