article thumbnail

5 Long-Term Financial Goals and How to Achieve Them

Success

Your long-term goals are an important aspect of your financial health. Pay off major debts Expected time: 5+ years Account types: Credit card debt, mortgage, student loans, car loans Getting out of debt is essential to the success of your other long-term financial goals.

Goals 288
article thumbnail

What Is My Net Worth?

Success

A positive net worth is a sign of financial health; the higher your number, the better you’re doing. You may be spending more than you earn and using credit cards to help you cover expenses. Zero : If you add up all of your assets and liabilities and come up with zero, you are balancing debt and income.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Set and Achieve Financial Goals

Success

Medium-term: These goals will take longer to reach than short-term goals but are still generally achievable in the next one to five years, such as paying off credit card debt or saving for a new car. To set your new budget , add up your monthly income and monthly expenses. Allocate these excess funds toward your goals.

Goals 237
article thumbnail

7 Short-Term Financial Goals and How to Achieve Them

Success

Depending on how much you need to cover your bare-bones living expenses, it could take anywhere from six months to a year to save up a solid emergency fund. For example, start by saving enough in your emergency fund to cover one month’s living expenses, then work your way up to six months over time.

Goals 278
article thumbnail

7 Money Mistakes You’re Making in Your 20s

Success

Here are seven money mistakes from your 20s that you can easily drop to help get your financial health in good shape. for the ATM and up to $5 to your bank. Paying credit card interest or fees. A credit card can be a useful tool. You’ll end up paying nearly $4,000 in interest—on top of the $3,000 debt.

article thumbnail

Money Remains a Top Stressor for U.S. Adults—Here Are Some Tips to Better Manage Stress (and Finances)

Success

Hailing from humble beginnings, he grew up in a loving family. Research shows that people who suffer from high levels of debt stress have health risks ranging from ulcers and migraines to heart attacks. One recent survey by the credit card comparison website CardHub observed that consumers added a total of $87.3

Stress 264
article thumbnail

Everything You Need to Know About Emergency Funds

Success

If you’ve ever had to pull out a credit card to deal with a dentist or emergency vet bill, you likely know the pain of wondering how you’ll pay for an unexpected expense. Consider the minimum amount you spend each month on non-negotiable expenses like: Housing Food Utilities Insurance (health, car, etc.)