building wealth

Habits Worth A Million Dollars

assets

How to Make Money With Assets

What Is an Asset? In personal finance, an asset is anything you own or control that produces economic value, future profits, or positive cash flow. Assets broadly differ in form and can be tangible (touchable) or intangible (untouchable). However, as long as it is producing positive economic value, it is considered an asset. The key

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saving money

The Secret to Saving Money

Is Saving Money Important? Before we jump into how to save money properly, we must first understand why it is important. It is valid to question the importance of saving money. Most people have steady incomes that seemingly won’t change. For this reason, many people feel that they can spend all of their paychecks because

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Keeping you poor

Advice That Is Keeping You Poor

Is Bad Advice Keeping Me Poor? Advice is guidance or recommendations concerning what future actions you should take.  Typically these tips are given by someone regarded as knowledgeable or authoritative. For instance, we ask doctors for advice on our bodies, and we ask math professors how to solve complicated algebraic problems. However, when it comes

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Compound interest

Make Money with Compound Interest

What is Compound Interest? Compound interest refers to the continuous addition of interest to a principal sum. In other words, when reoccurring interest payments are reinvested into an initial sum, it results in exponential growth. This is because each reinvested interest payment will be larger than the last. To clarify, compound interest occurs when there

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What is a 401

How to Utilize a 401(k)

What is a 401(k)? A 401(k) is a retirement account that the employer sponsors. This account allows employees to prepare for their retirement by dedicating a percentage of their pre-taxed income to a separate account. In other words, you will place every pay period a percentage of the income you earn from your employer into

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best budgeting app

The Best Budgeting App in 2021 (Mint)

What is the Best Budgeting App in 2021? A budget is a financial plan that estimates income and sets expense limits within a given period of time. Understanding how to create and follow a good budget is essential to building long-term wealth. Therefore, finding a budgeting tool to help aid your financial habits is significant.

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