The stages of your financial lifecycle – or financial stages of life – are the financial goals and objectives that you should focus on at each stage in your lifetime. Different financial goals apply to different life stages such as young adult, a married couple, single parent, pre-retirement and retirement. For instance, when you’re just…
Not only can you find expert advice from like-minded individuals, but the real value comes from the accountability and support that a group provides. Being part of a mastermind group helps to keep you motivated because you have others to hold you accountable for your goals. Additionally, with the help of a personal finance mastermind…
Establishing a comprehensive retirement plan can give you the security of knowing that when it’s time to retire, your financial future is secure and your life expectancy becomes less of an issue. Retirement planning helps you make sure that you will have enough money saved up to live comfortably in the years after you stop…
All these three are vital for a successful journey towards your financial goals. In this section, we will focus on the importance of consistency and how it can help you in achieving financial stability. Consistency is defined as the act of being constant or regular. When it comes to finances, being consistent means sticking to…
For those looking to purchase commercial property, creative financing can be a great tool. Creative financing involves identifying and utilizing financial instruments not normally used in traditional financing. By understanding the different types of creative financing available and how they can be used, you can improve your chances of getting the best deal on a…
Financial success is something that most people strive for in their lives. It’s the ability to achieve a stable and comfortable financial state, where one has enough resources to meet their needs and wants without struggling or being in debt. However, it’s important to note that financial success is not just about having a lot…
Money is a living necessity Regardless of an individual’s outlook on life, money is essential for daily living. Being rich is better than looking rich. You don’t have to buy things you don’t need to impress people you don’t like. Accumulating wealth is more important than flaunting material possessions that are not necessary. Buying unnecessary…
A housing crash occurs when home prices fall significantly. It is usually caused by a weakening of economic conditions or an oversupply of available homes in the market. During a housing crash, people may struggle to find buyers for their homes, leading to price drops across the board. Managing a housing crash can be challenging,…
The importance of paying yourself first cannot be overstated. When you set aside money for yourself first, it helps to ensure that your future is secure. It also demonstrates a commitment to self-care and personal growth that will benefit you in the long run. As you continue to grow financially, putting away money for yourself…
Poverty and prosperity are two words that may seem like they have opposite meanings, but in reality, they are closely connected. Poverty is defined as the state of being extremely poor, while prosperity refers to a state of being successful or wealthy. So how do we move from one to the other? Before diving into…
