Archive: May 2009
Online banks are banks that operate solely over the internet. These banks don’t have a physical location that you can visit. Instead, you interact with the bank through a website or occasionally over-the-phone. Though you may be skeptical of online banks because you can’t walk in and talk to someone, most have a solid reputation […]
A lot of people put off budgeting because they don’t know what to include. A budget isn’t a complex process. In fact, the key components of a budget are pretty simple and straightforward. There are basically three parts to your budget: your income, your expenses, and your net income. For each of those, you’d include […]
What would you do if your car’s transmission went out today and it cost $3,000 to replace it? Do you have that much money available to spend on a major car repair? Or would you have to use a credit card or loan to cover the expense? Most people have to borrow money to pay […]
High interest rates are a pain in the wallet. That’s because higher interest rates lead you to pay more on the money you borrow than if you had a lower interest rate. For example, a $1,000 credit card balance at 6% interest rate would cost $5 a month in interest. On the other hand, if […]
Online banking has changed banking forever. It’s now it much easier to pay your bills, track your spending and even increase your savings. An online bank account can be a life-changer when it comes to achieving your financial goals. To help you master your understanding of online bank accounts, we’ve compiled the following tutorials. Note: […]
Personal budget planning is one of the most painful-yet-essential financial skills you can possibly learn. Though it might hurt to ration out what you can and can’t spend, it’ll change your financial future forever. Planning your finances without a budget is like trying to make a map without a compass — success just isn’t very […]
People get in debt for all sorts of reasons. High medical bills, death, divorce, overspending. But, just because you ended up in the land of overwhelming debt doesn’t mean you have to stay there. One of the most enviable destinations in the world is debt-free living. Unfortunately, getting out of debt isn’t as easy as getting into debt. […]
One key part of getting out of debt is paying off your existing bills. But, many people forget another crucial component that can keep you in debt — taking on more debt. As long as you keep making new charges on your credit cards or taking on new loans, your debt load will never go down. […]
As LFP has been continuing to grow both in content and traffic, I’m going to start routinely updating you on new additions and plans to the site. If you ever have any ideas, comments or critiques, just comment on any post, and your thoughts will be read and responded to! A New Addition As you […]
This post is short, but makes up for it because this is the most important article on this website. If you only read one thing here, let this page be it. You know the old expression, “Out of sight, out of mind”? Saving money is a lot like that. If you can have a certain […]
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