Calculating compound interest is complicated. Luckily, there’s a simple shortcut that helps you estimate how a fixed interest rate will affect your savings: the Rule of 72. The Basics The Rule of 72 is a tool used to estimate how long it will take an investment to double at a given interest rate, assuming a […]
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Tag: Budgeting
Tracking Your Joint Expenses
It’s hard enough keeping track of your own expenses. So you shouldn’t be surprised that managing money as a team effort can test your patience, especially if your partner has a different method of keeping financial records—or worse, no method at all. In some ways, it’s easier for you today than it was for your […]
How to Increase Your Gas Mileage
No amount of wishful thinking will lower prices at the pump. Instead, focus on efforts that will make a difference—follow these 8 tips to increase your gas mileage and get the most out of every gallon. Drop the cargo weight. Cleaning your car out isn’t just good advice from your mom—it can actually save you […]
Income and Expenses
Making and spending money is a part of everyday financial life. Managing your money successfully relies on figuring out your income and expenses. This boils down to how much money you have coming in, and how you’re spending the money you have. Using those two factors, you can compare your resources with the amount of […]
Quality vs Cost: When to Splurge or Save
Whether you’re standing in front of a shelf at the grocery store, shopping online, or even walking around a car dealership, you may wonder: Do I go for the “nicer,” more expensive option or choose the cheaper one to save some money? At the end of the day, what you’re really debating is quality vs […]
8 Tips to Reduce Your Food Bill
Buying food is essential, but if you’re not careful, it can also eat into your budget. We’ve all given into the temptation of dinner at an expensive restaurant or a thoughtless trip to the grocery store where you throw anything and everything into the cart. Unfortunately, these expenses add up quickly and can cause your […]