Why You Need a Budget More Than a Side Gig

Being in the personal finance space for several years, we have heard all sorts of money advice. One particular piece that keeps popping up is the tip to get a side gig. Need to pay off debt? Start a side hustle. Can’t afford your bills? Make some money on the side. Want to cure cancer? Okay, just kidding, but you get the point. While I am not against getting a side job, I don’t think it is the best way to fix a broken budget. Earning $500-1,000 extra a month is not going to transform y...
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Tips To Successfully Overcome Financial Stress

Do you walk into work each morning worrying about the state of your finances? If so, you’re not alone. 33% of employees are distracted at work by their personal finance issues and 46% of those individuals admit to spending at least three hours a week dealing with their finances when they should be working. Money is a big cause of stress throughout the country and across the world and it has long been a source of conflict between couples and employer-employee relationships, which is why many peop...
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The More Money You Earn, The More You Decrease Your Stress

You know how important it is to save as much money as you can for your retirement, preferably in a high-yield savings account, but wealth can make your life better now instead of just in the long-term future. According to a study mentioned by Forbes, only 37 percent of Americans have enough savings to pay for an emergency that would cost them $500. Accumulating wealth long before you retire has other benefits, such as reducing your stress. When you don’t have enough money, you don’t have a lot o...
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5 Strategies for Building Wealth While in College

For the majority of college students, saving money for the future is not a top priority. Between classes, homework, extracurriculars, and social events, it is challenging to focus on anything but the here and now. These demands, combined with the lack of financial education that is provided to most college students, make it unlikely that many will plan or save for the future. However, despite the current financial state of most students, the college years are actually one of the best times to...
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A Post-University Finance Guide

After 3 years of receiving student loans and funds from your parents, it’s easy to forget the importance of money management. However, soon enough you’ll need to fund a property of your own or perhaps a car to help with the daily commute. Personal pension provider, True Potential Investor, share their tips for managing your financial goals. Everyone’s investment goals will be unique, but whatever they are, appropriate financial planning can help you meet them. Deciding on your goals D...
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Expert Insights Into Wealth Creation

On the surface, it appears that debt is a surefire way of limiting wealth creation. Truth be told, not all debt is bad. There are certain types of debt that are regarded as good debt, while others are bad debt. Mortgages (for personal or business real estate) are typically considered good debt, as are student loans. Bad debt is not an investment that will grow in value, and it certainly doesn’t generate income over the long-term. A classic example of bad debt is credit card debt. There are stark...
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Where To Next For The Global Economy?

The Federal Reserve Bank has boldly moved forward with plans to tighten US monetary policy as the world’s #1 economy gradually moves towards its targeted inflation rate of 2%. The Fed is tasked with two key objectives: full employment and price stability. To prevent the US economy from overheating, the Fed has embarked upon a policy of modest interest rate hikes. Currently, the federal funds rate (FFR) is in the range of 1.00% – 1.25%. The Fed FOMC convened on Tuesday/Wednesday (June 13/14) for ...
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Four Practical Insights on How to Take Charge of Your Finances

At the start of this year, people made different kinds of New Year resolutions. The most popular resolutions had personal finance undertones such as getting out of debt or saving up more money. Many New Year resolutions have started to fizzle out on the altar of what's 'practical' as people return to their old ways. Interestingly, your finances tend to have a direct influence on other areas of your life; you can't afford to watch your personal finance resolutions fizzle out. This article provid...
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How To Check Your Real FICO Score For Free?

The law allows you to get a free copy of your credit report from each of the 3 major credit reporting bureaus once every year. You can go to the Annual Credit Report website to request your credit reports at no charge once each year. This credit report lists your credit accounts, history, and other factors. It does not tell you your credit score though, and this is something that you really need to know. In the past you had to pay to see your FICO credit score but this is no longer true....
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Mortgage Applications: Now Versus Then

Perhaps it’s been awhile since you last applied for a mortgage. If that’s the case, you’re going to be very surprised by the current lending environment. Much has changed since all that financial unpleasantness took place in the last decade – and all it took to totally revamp how money is loaned and borrowed was the near-collapse of the American economy. Just how different is it? Take a look: Mortgages are more basic Then: As the early 21st Century progressed, the types of mortgages one...
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