Student loans are a form of financial aid that must be repaid, with interest, after you graduate. Student loans can help cover the costs associated with tuition, room and board, books, supplies, and other college-related expenses. There are two main types of student loans: Federal Student Loans (subsidized and unsubsidized) and Private Student Loans. Federal…
The importance of financial literacy in schools and colleges is often overlooked. Financial literacy provides students with the skills they need to understand and manage their finances, including budgeting, saving, making informed decisions about investments and loans, and planning for their future financial security. Teaching financial literacy in schools has numerous benefits, including improving student…
A good credit score is your license to solvency and liquidity, and having one could make it easier for you to access loans and favourable terms when borrowing money. Good credit scores typically range from 670 to 739, while excellent credit scores are usually those above 750. Keeping a good or excellent score will help…
Living below the poverty line is a difficult situation to escape from, but it can be done. It requires dedication and hard work, as well as a smart financial plan. The first step to take is to identify what needs to change for your life to improve. This could mean earning more money through getting…
It is cool to climb the levels of financial freedom and enjoy the ride. However, it is important to remember that financial freedom isn’t necessarily a destination, but rather a journey. While you will no doubt experience some highs and lows along the way, it is essential to maintain a long-term perspective and plan. In…
Financial planning doesn’t have to be a chore. You can find fun in the process if you look hard enough! Here are some tips for finding joy in financial planning: 1. Set small goals – Break up your long-term financial goals into smaller, achievable targets. Celebrate when you reach each one and make sure to…
Your economic status should not be used to dictate how you live your life or the decisions you make. Money is just one aspect of life, and many other rich experiences don’t cost anything. Don’t rely on financial wealth as a crutch; instead, focus on developing meaningful relationships and cultivating personal growth. Start by setting…
People often struggle to meet their financial commitments if load shedding occurs and they are unable to earn an income or purchase necessary goods. Furthermore, load shedding may also lead to increased costs due to the need for alternative energy sources such as generators and fuel purchases, adding additional expenses that many people cannot afford….
A finance charge is a cost that the borrower has to pay for taking out a loan or obtaining credit. This charge can include interest, points, broker fees and other charges associated with the loan or credit. Finance charges are generally calculated based on the amount of money that is borrowed and the terms of…
There is a difference between being rich and being wealthy. Those who act rich often lead a lifestyle that is unsustainable and reliant on temporary gains, while those who are truly wealthy have developed habits over time to ensure long-term financial success. To become wealthy, you must invest wisely and focus on creating wealth for…
