Budgeting is a skill that helps you make smart decisions with your money. It ensures that you’re spending less than you earn, it prepares you for life’s curveballs, and it funds your goals and your dreams. Unfortunately, budgeting is often seen as restrictive and overwhelming. Financial priorities are deeply personal, so it can be challenging to find the right combination of strategies and tools that work for you.
August 2021 Auto Loan Savings
Loans help finance some of our biggest goals in life. They can provide access to possibilities that we can’t afford upfront—possibilities like going to school, buying a home or starting a business (to name just a few).
If you're willing to wait, a CD can be a great way to earn a high interest rate on the money you deposit.
One of the most effective tools for preventing a large-scale financial disaster is an emergency fund, an amount of money that is set aside to cover unexpected expenses, or to keep you afloat if no regular income is coming in.
Think back to your most recent savings goal. How long did you have to save in order to reach it? Was it a concert ticket or some new shoes that took a few weeks of budgeting? Was it a big-ticket item like a new computer or a summer vacation that took a year or two of planning in advance? Perhaps you’re currently saving for an even more ambitious goal: a car, a wedding, a down payment on a home? Although savings goals vary from person to person and range in size and scope, it’s likely that your longest-term savings goal will be your retirement.