Compound interest. Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it…he who doesn’t…pays it.” Since interest comes in different forms, the compounding affect can be your best friend, or your worst enemy depending on the financial product. So today we’ll be discussing the good, the bad, and not so ugly part of compound interest as it relates to your finances.
Read MoreCredit cards. They usually have a bad reputation because of our bad money habits and the $7,000 average household debt held on a card. Additionally, the credit providers claim they want to help us get what we want and/or need. However, what if I told you there was a way to stick it to these credit card providers? Well you’re in luck! Today we will be discussing three different ways to strategically use your credit cards.
Read MoreYour credit score is a three-digit number ranging from 300-850 that seems to have all the power when it comes to your personal finances. Some consumers avoid looking up their score, while others are constantly trying to increase their score through various methods. If you’re wondering why having a good credit score is so important and the factors impacting your score, DWM has you covered.
Read More$6,829. That is the average U.S. household credit card debt balance according to NerdWallet’s annual analysis of U.S. household debt. The plastic card has its perks such as cash back, points towards flights, or even first pick at Beyonce tickets. But this plastic card could easily get us in trouble if we start using it like its our own money.
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