A spending plan is often referred to as a budget. Even though most people think of cutting costs or penny pinching when they hear budget, it is a valuable tool that does not need to have a negative feeling for you. The spending plan is a system for how you spend your money. The spending plan should be viewed as a positive tool that helps you plan and achieve your long-term financial goals.

Most people have some type of debt. Some forms of debt are a mortgage, a student loan, an auto loan and credit cards. Debt gives you access to money you do not currently have. You will not only have to return that money, but also pay any interest or fees attached to borrowing that money. Debt is not bad as long as you manage it to certain levels and are working to pay it off. When the debt...

Savings are pivotal to you accomplishing your financial goals. According to a U.S. Department of Commerce report, the savings rate in the United States compared to disposable personal income has dropped dramatically. What does that mean? We have gone through some tough economic times recently and people have not been saving as much. The good thing is that this rate has gone up a little, but we...

Emergencies come in all shapes and sizes: earthquakes, tornados, flooding, chemical spills and so many others. The responsibility for preparing and responding to an emergency lies with the individual and the family, not the community or government. Both the community and the government have disaster plans, but they say it can take up to 72 hours or longer before they will be able to get to all...

Your credit history is included in your credit report. Reporting agencies, credit bureaus, use this information and their proprietary formulas to create for you a credit score. This is a numerical value that determines the risk you provide in lending you money, renting you a place to live or even determining if you are a reliable employee. Your credit score can dramatically impact your financial...