Did you know? Every mortgage payment is a form of savings because it increases the amount of your home that you own, known as the “equity” in your home. Renters are not able to build equity with their monthly payments.
A healthy approach to dealing with your money isn’t always about focusing on big, long-term goals. Some of the most important things you can do regarding your money are simple tricks that build the foundation for your long-term financial wellbeing.
With the advent of artificial intelligence, which can identify patterns and relationships on a scale impossible for humans, institutions finally have the opportunity to overcome one of the biggest obstacles to engaging clients in their own financial wellness: the challenge of providing each client with the highly personalized, actionable advice they need, in the exact moment they need it.
The great news is that, if the interest rate on your student loan is low (below 8%), it doesn’t have to be paid off before you start tackling longer-term goals like buying a home or saving for retirement. Instead, you can balance paying off your student loan debt vs saving a down payment for your home by tackling both simultaneously.
Saving for retirement is as important for independent contractors or freelancers as it is for regular employees. Don’t put it off because you don’t know how to start.
You may have a good general sense of how much money you need to retire, but you aren’t truly ready to retire until you understand what that means in day-to-day terms.
To give everyone the financial advice and tools they deserve – that will engage and empower them to improve their situation – we need to meet each individual where they are, and offer them the actionable advice they need, in the moment they need it.
Imagine yourself feeling more secure and comfortable in the years to come when it comes to your finances. Making the right changes to your spending has the power make that happen. You can change the trajectory of your financial journey, and you can make the change starting now.