Living beyond your means is an easy trap to fall into. And if youâre not keeping close track of everything thatâs coming in and going out of your financial account, you may not even realize youâre doing it. But if you often run out of money before the month is over — and you donât […]
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A long-term savings account, as the name implies, is one opened to deposit and hold money for a longer period of time. They can be contrasted to checking accounts used to pay monthly bills or regular savings accounts that might earn interest, but maybe not much. A long-term savings plan might be set up for […]
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The marginal propensity to save (MPS) refers to the amount of disposable income a consumer is able to save. Itâs used to reflect the proportion someone is willing to save for each additional dollar of their income. To understand why MPS is important when quantifying fluctuations in savings and income, weâll go over how to […]
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Many people worry that creating a budget will be too complicated, too restrictive, and put the kibosh on fun. But a budget is really nothing more than a plan for your money. A well-thought-out budget can help you take control of your finances and use your money with intention, so you have enough to cover […]
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A stipend is a fixed amount of money given to offset expenses or provide financial support while youâre engaged in a service or contributing to a project. A stipend may be paid in one lump sum, or it might be paid in a series of smaller amounts. As youâre looking through employment opportunities, you may […]
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There are seven federal tax brackets for 2021, ranging from 10% to 37%. Generally, the more you earn, the higher your tax rate, and the more money you will owe the IRS in taxes. How much youâll pay in federal tax on your 2021 income (due in 2022) will depend on which bracket your income […]
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You can buy a car with a credit card in certain circumstances. But it may be smart to ask yourself if this is the best way for you to purchase your vehicle. This post will take you through the pros and cons of buying a car with your card, as well as provide information about […]
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