article thumbnail

What Is My Net Worth?

Success

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. Liabilities are debts you owe others, like a loan or a balance on a credit card.

article thumbnail

30 New Year’s Resolution Ideas to Make 2024 Healthier, Happier & More Secure

Success

Empower yourself to live debt-free by paying down high-interest debts such as credit cards. Ideally, this should cover at least three to six months of living expenses in case you lose your job or have unexpected expenses like medical bills. Improve your credit score. Reduce debt. Invest in an emergency fund.

2024 300
Insiders

Sign Up for our Newsletter

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

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. Break the total you’re aiming for into a monthly savings target and set up automatic withdrawals on payday to help you contribute without thinking about it.

article thumbnail

How to Create a Budget: 6 Steps to Get You on the Path to Financial Security

Success

We all know expenses exist, but the numbers keep adding up—rent, water, trash, electricity, cable, Internet, car insurance, renter’s insurance, gas, cell phone. The cost of building a life isn’t. It all feels a bit much. Categories are not limited—they should be customized to your own spending habits and responsibilities.

Budget 280
article thumbnail

Avoid Using “Buy Now, Pay Later” By Planning Ahead

Success

But while it can be a convenient way to make purchases and get the things you need without using a credit card, it can also become a financial headache if you aren’t careful. Falling behind on payments can mean late fees and possibly even a dip in your credit score if the problem isn’t fixed quickly. Remember, it’s still debt.

article thumbnail

How Toxic Positivity Can Hurt Your Finances

Success

In fact, if you try to get out of a tough financial spot with good thoughts alone, you may actually wind up in a worse situation. Resilience , on the other hand, lets you keep moving through a challenging situation like a scary medical diagnosis or job loss while still being able to acknowledge that things are hard.

Finance 299
article thumbnail

Have a Strategic Plan So You Can Cash Out On Your Terms

Success

How old you are, any children you have and how old they are, and if you have credit card debt, student loans or medical debt, as well as costs for insurance, utilities and food should all factor into your list and will determine how much you need to spend each month. Remember to focus on consistency over significant wins.