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As a College Financial Educator, I’ve become familiar with several mistakes that students, and their families, make when paying for college. And one that concerns me is when parents prioritize college over building their own retirement fund.  I get it, parents love their kids. But here’s the thing, there are loans for college, no one’s going to give you a loan for your retirement. I also get that your kids are headed to college before you’re retiring, but your money needs time to grow. For every 10 years that you hold off investing, you’ll need to double the amount of money that you invest toRead More →

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If you’re in debt, you’re not alone! After a decline last year, credit card debt is up again and nearly 1 in 5 Americans have credit card debt of $20,000 or more. As we covered last week, compound interest can work for us or against us – when we have debt, especially credit card debt, then compound interest is definitely working against us. While it may take time to get out of debt, it helps to have a strategy. In this post, I’ll share 3 strategies – each is not better or worse than the others, just different. Focus on deciding which one makes theRead More →

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No one will ever care as much about your money as you do. This is a point I like to make in my financial education sessions with students. It’s our money and our responsibility to manage and grow it. But I also say this to make a point about how interest goes both ways, that is, you can earn it or pay it.  Interest is simply money paid for the use of money. Are you borrowing money? Then you’re paying interest to use that money. Are you depositing money into your savings account? Then the bank will pay you interest on your savings. They canRead More →