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5 Long-Term Financial Goals and How to Achieve Them

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The easiest way to get started is to calculate how much you need in savings to live comfortably in retirement—often between 70% and 90% of your preretirement income. Most people use a mortgage to buy real estate, but many mortgage lenders ask for at least 20% of the purchase price as a down payment.

Goals 277
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What Is My Net Worth?

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While it might sound intimidating, calculating your net worth is an easy way to see a broad view of your financial situation. Periodically calculating your net worth can help you see trends and allow you to make corrections when things start going off track. Calculate your net worth once or twice a year. What are my assets?

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Travel Blogger Karen Akpan Shares How She Journeyed From Debt to Economic Freedom

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With an expensive California mortgage, car payments and student loans, the emergency fund she and her husband, Sylvester, had dutifully built quickly depleted. I calculated and multiplied our monthly payment by the 30-year time period, and I realized that we would pay back three times the amount of the house,” Akpan explains. “I

Travel 307
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How to Define and Plan for Financial Freedom

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Calculate your number. Think about things like: Your desired retirement date Buying a house and/or paying off your mortgage as quickly as possible Paying off your student loans Increasing your net worth. This should be stream-of-consciousness writing , without judgement.

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How to Create a Budget: 6 Steps to Get You on the Path to Financial Security

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Some basic categories, but definitely not all possible ones, you can start with include: Housing, including rent or mortgage Utilities Car payments/insurance/gas Health/medical expenses Groceries/restaurant expenses Entertainment Personal/shopping/clothing Children Savings Credit cards/loans/other fees Etc. Did you overspend?

Budget 279
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Travel Blogger Karen Akpan Shares How She Journeyed From Debt to Economic Freedom

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With an expensive California mortgage, car payments and student loans, the emergency fund she and her husband, Sylvester, had dutifully built quickly depleted. I calculated and multiplied our monthly payment by the 30-year time period, and I realized that we would pay back three times the amount of the house,” Akpan explains. “I

Travel 246
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How Can I Boost My Credit Score?

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Many factors go into calculating your credit score. Information in your credit report is used to calculate your credit score. A high credit score can mean a lower interest rate on a loan, mortgage, credit card or other financial product. How is your credit score calculated? Why is boosting your credit score important?