Future Planning

When most people think about an “emergency fund,” they equate it to money put aside for financial emergencies or unexpected expenses. While this might be the primary purpose, these funds hold much greater value in your overall financial health.  Being unprepared for financial hiccups, such as a sudden job loss, unplanned medical bills, or other surprise costs, can domino into additional challenges. A well-intentioned and planned emergency fund equips you to handle setbacks better and steer clear of costly alternatives, such as payday loans.   In this article, we’ll outline why an emergency fund is so critical to your overall financial…

Improving your financial position often starts with cutting costs. After all, the less you spend, the more you can save. While this is sound advice, there’s a bigger factor at play when it comes to long-term wealth: your earning potential. In an ever-changing economy, the value you deliver can determine whether you thrive or struggle.   The past two decades have been a testament to this reality. The Great Recession brought widespread layoffs and financial uncertainty. Just as the economy began to recover, the COVID-19 pandemic brought a new wave of layoffs as entire industries were reshaped. Then, inflation surged, driving…

Life is full of dreams – whether it’s renovating your forever home, funding your child’s education, starting a business, or finally booking that once-in-a-lifetime vacation. But let’s be honest, turning those dreams into a reality can often feel impossible when you consider the time and effort required to save up the necessary money.   Here’s the good news: if you’re a homeowner, you have a powerful tool at your fingertips – a Home Equity Loan. This unique financing option allows you to unlock the value in your home to fund your goals affordably. So, why put your dreams on hold when…

When it comes time to purchase a vehicle, you have several decisions to make. You not only have to select the vehicle’s make and model, but you also have to decide if you’re going to buy a new or used car. This alone is a crucial decision and could make a significant difference over the next few years in your finances.  Let’s review the pros and cons of buying a used vehicle, and what to look for when you’re in the market for one.     Pros of Buying a Used Vehicle  Some advantages of purchasing a used vehicle include:  You’ll…

New Year’s Day marks one of the most popular moments when it comes to setting goals. Resolutions allow you to start the year off with personal improvement on your mind, giving you something to strive for in the months ahead.  One of the most popular goals people set is improving their financial situation. The challenge with financial goals is that they are usually longer term, meaning it’s often difficult to stay motivated when the prize is so far away.   In this article, we’ll provide tips on how to break longer-term goals into bite-size pieces to significantly improve your odds of…

Buying a home is one of the greatest investments you’ll make in your lifetime. Aside from the sale price of the home, there are other expenses that many first-time homebuyers tend to overlook, such as moving costs and furnishing your new place. However, one of the most significant and misunderstood figures is mortgage closing costs.   In this article, we’ll break down mortgage closing costs, detail how much you can expect to pay, and provide ways you can save on this expense.      What Are Closing Costs?   Purchasing a home is a semi-complex process that involves a multitude of parties. Aside…

Most people don’t think of their car as a financial investment. It’s a means of transportation and part of your daily life. However, without proper maintenance and care, your vehicle could derail your finances with unexpected repair costs and more.   Most brand-new cars purchased today come with extensive warranties, and often include the first few years of maintenance. But what if you have a pre-owned or hand-me-down car that is an older model? Keeping your vehicle properly maintained is crucial to ensure your finances continue to run smoothly.  Here’s a guide that outlines standard vehicle performance checks. You can use…

Buying a home is a significant milestone, whether it’s your first time or you’re moving for a growing family. The journey is exciting but can also be exhausting and overwhelming at times. In an ideal world, your perfect home would be waiting for you at the perfect price. Unfortunately, reality often presents a more complex picture.  Finding the right home demands patience, energy, and compromise. Along the way, you may encounter obstacles that can take an emotional toll, making it easy to become discouraged or make hasty decisions that lead to financial missteps.  To navigate this journey successfully, it’s crucial…

Generation X, defined as the cohort born between 1965 and 1980, is often the forgotten generation. Boomers, Millennials, and Gen Z may dominate the headlines, but Gen X is reaching a pivotal point in their lives. Becoming middle-aged often means balancing a multitude of responsibilities, including raising children, preparing for their college years, planning for retirement, and possibly caring for elderly parents. That’s a lot to juggle financially and emotionally.   As the oldest members of Gen X turn 59, retirement may already be a reality. For others, their golden years are just over the horizon. This reality leads many to…