We strive to teach simple financial concepts. These concepts, if you apply them to the life of you and your family, you will on your way to live the life of financial independence. Every one has their own idea of what that independence looks like. For you it could making sure there is more money than month. It could be being able to buy something for the kids without having to look at the price tag first. It could be going on vacation one week every month.
However you define it, it is your definition. It's not wrong or stupid or silly or anything else your family & friends will say to get "back to reality". They're as broke as you!! Is that who you want to take advice from?
Stick to what you dream of (or stretch a little), put these simple rules to use in your life and you will be well on your way
This site isn't filled with all the bells and whistles that you will find elsewhere. It's simple and to the point. You shouldn't have to wade through a buch of sales promotions before you learn something that will help you.
offer some type of benefits to my employees but I can't afford it right now.
make sure my family is taken care of if something happens to me.
know my kids have a place to go should something happen to us.
figure out how to get my credit cards paid off as quick as possible.
know what type of retirement plans might suit me best.
ask some questions but I don't know who to ask.
figure how what options I have for saving to put my kids through college.
what type of mixture I should have in my 401K.
The average credit cardholder has 3.5 credit cards. Including both cardholders and non-cardholders, the average consumer has 2.7 cards each. (Source: "The Survey of Consumer Payment Choice," Federal Reserve Bank of Boston, January 2010)
The average consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time. In fact, one out of four consumers had credit histories of 20 years or longer. Only one in 20 consumers had credit histories shorter than two years. (Source: myfico.com)
Young Americans now have the second highest rate of bankruptcy, just after those aged 35 to 44. The rate among 25- to 34-year-olds increased between 1991 and 2001, indicating that this generation is more likely to file bankruptcy as young adults than were young boomers at the same age. (Source: "Generation Broke: Growth of Debt Among Young Americans")
Total U.S. revolving debt (98 percent of which is made up of credit card debt): $793.1 billion, as of May 2011 (Source: Federal Reserve's G.19 report on consumer credit, July 2011)