Financial literacy as your financial legacy

  When we talk about leaving a legacy, we usually think in concrete terms: money, property, or some other type of asset. However, sharing financial literacy and wisdom with the generations that follow us can make just as big of an impact as leaving a gift. Financial literacy has become a national topic in the past few…

What are your plans for your tax refund?

  Although it may not always be ideal to have a large tax refund, it’s definitely better than owing the IRS. If you’re not sure how to spend it yet, check out Mint’s suggestions in their infographic, “When to Expect Your Tax Refund (and how to spend it!)” While it is tempting to go shopping after receiving a…

After a long period of calm, volatility may be back

Since the beginning of October concerns about signs of weaker growth abroad have outweighed positive US corporate earnings reports and global stock market volatility has gone extreme. The Dow Jones Industrials saw triple-digit swings several days in a row that wiped out all of the index’s year-to-date gains. This volatility sent investors once again seeking…

How much credit card debt is too much?

  How much credit card debt is too much? A few years ago, Mint asked people this question and published their results in an infographic (above). Almost half of the people who responded thought any credit card debt is too much. It’s not a surprising response: with the current average (i.e., not highest) credit card interest rate for…

What does it mean to be financially literate?

Financial literacy has been a popular topic in recent years. Type that phrase into Google and the search engine will return hundreds of articles that describe how lacking Americans are on the subject. There are movements to establish required financial literacy classes in grade school and high school. Personal finance blogs like this one seem to…