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...
Read More
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...
Read More
Personal finance extends far beyond simply earning and spending money; it is the strategic management of one’s resources to build security and achie...
Read More
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...
Read More
Existing debt itself is not an emergency to be paid from this fund. The fund is strictly for new, unexpected events. Using it to pay down old debt would leave you vulnerable to the next crisis, forcing you back into debt.
A cash advance allows you to withdraw cash from an ATM or bank using your credit card. It immediately accrues interest at a much higher APR than purchases, has no grace period, and often includes an additional transaction fee, making it an extremely expensive form of debt.
Yes. Creditors are permitted to charge a late fee the day after your payment due date has passed. Some may have a short grace period of a few days, but you should always assume the due date is strict.
Your net worth improves through the interest you avoid paying. The money that would have gone toward future interest payments is instead preserved as part of your assets (your cash) or can be redirected into investments, which are appreciating assets.
A DMP usually lasts between 3 to 5 years, depending on the total amount of debt and your agreed-upon monthly payment. The counselor will provide a clear estimated timeline before you enroll.