2022 Financial Blogs
Our corner of the web is dedicated to money and sharing our knowledge and experiences to help you make better money (and education) decisions. This is the information we wished we had when we were making important decisions.
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T H E B L O G
Holiday Tips – How to Avoid Debt During the Holiday Season by Lakeisha Rolle
The holiday season is normally that time of the year where individuals emphasize on gift giving, spending quality time with family and friends, and donating to those that are less fortunate. At times, it can be so easy to get caught up with the gift giving and decorating aspects of the holidays that we quickly forget that it only lasts for a few days, while the regret of overspending lasts for so much longer. Many people find themselves going into debt or increasing their existing debt during this time of the year because they either lack a spending plan or don’t stick to the plan they’ve created. Here’s why you should teach your child how to save earlier than later!
Saving for Kids by Lakeisha Rolle
Parents, I’ve got a question just for you! I know we’ll be talking about kids here but first, I’d like to start off with a question for the parents out there. When did you learn how to save? If not as a child, then mostly likely your answer would be as a teen, young adult or perhaps, a bit later down in your adult years (either after a conversation or after life hit you really hard and you got a reality check). When it comes to teaching your child about money, it’s important because it helps them to have a better experience with money and allows them to create a new cycle about the way money works (or doesn’t work) within your family system and eventually within their own families.
Here’s why you should teach your child how to save earlier than later!
Money Management Lessons Every Student Should Learn by Lakeisha Rolle
When it comes to college students, money management may not seem like a huge deal, especially if they are depending on the financial support of others. Financial literacy is considered a basic life skill and we must be intentional with teaching our children about adopting healthy money management choices which leads to increased financial wellbeing.
Financial Literacy 101: How to Start Improving Your Money Management Today by Sterling Bain
Financial literacy is a topic that affects a lot of people differently. The ability to understand financial concepts vary from person to person. This is usually due to levels of exposure to financial information or understanding how to apply said information practically. Moreover, why applying such information is even more important. This is because when we realize why we do things, we understand whether the pursuit at hand is purposeful or meaningless to whatever goal(s) we are trying to achieve in life. We can start our journey into financial literacy by improving our money management skills first. We can do this by creating a budget, tracking our spending, and by defining wants from needs.
Five Pillars of Financial Literacy that You Must Learn by Kelly Fowler
If you want to be financially stable and build lasting wealth, you must become financially literate; this means you must understand and speak the language of money. There are five pillars of financial literacy that you MUST learn. They are budgeting, debt elimination, saving, investing, and how to choose financial products.
Seven Reasons People Stay in Debt by Kelly Fowler
Financial debt is any amount of money borrowed or owed. In a debt arrangement, the borrower is obligated to repay the sum borrowed at a later date, usually at a cost, which is called the interest. Individuals enter into debt for a variety of reasons. However, few repay their debts in a timely manner. As of September 2020, The Bahamas had $2.1 billion in consumer debt outstanding and $123 million of that debt is listed as past due. Why do some people neglect paying off debt? The reasons range from lack of cash flow and know-how, to societal pressure and lack of self-control. This article will explore seven reasons why people stay in debt.