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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In the mortgage/real estate world thereâs a saying: âDrive until you qualify.â Itâs a cute way of saying if you canât afford a home in a certain (desirable) area, hop on the highway and keep driving until home prices get more affordable. This could mean driving an hour away from where you work, an obvious… Read More »Should You Drive Until You Qualify for a Mortgage?
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Parents can and do find ways to pay for their childâs college, but it often involves sacrifice and planning. Two keys: Save early and consistently. Starting as soon as possible and making regular deposits into whatever vehicle you choose can help smooth out the ups and downs of the stock market. Consistently making equal payments […]
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