What Is The Debt Avalanche Strategy?

Debt Avalanche strategy for paying off debt

Knowing how to pay off your debt effectively can be overwhelming, especially when you’re juggling multiple high-interest credit cards or loans. However, there are some tried and tested strategies that can help you with that. Two of the most used methods are known as the debt avalanche and the debt snowball. I’ll begin by taking […]

The 50/30/20 Budget: A Definitive Guide

How the 50/30/20 budget works

Many people don’t realize that the 50/30/20 budget was created by none other than the 2020 Democratic presidential candidate and Massachusetts Senator Elizabeth Warren. In her New York Times bestseller, All Your Worth: The Ultimate Lifetime Money Plan, Warren offered a new way of thinking about money management that helps you on your path towards […]

What Qualifies as an Emergency Expense?

What qualifies as an emergency expense

For many Americans, emergency expenses don’t have a definition. They have an emotion. You know an emergency when you feel it, and when you feel it strongly, you dip into your emergency fund. The problem with this? Our emotions can easily deceive us. Some pop-up expenses can feel like emergencies, when in reality they’re an […]

Should You Keep Your Emergency Fund in a CD?

should you keep your emergency fund in a CD?

We all get the jist of an emergency fund. You put money aside, ideally enough to cover three to six months of expenses, and when an emergency expense pops up, you can use it to stay afloat.  But, at a certain point, you’ll realize something: three to six months of expenses is a pretty hefty […]