Common Sense Finance

Common Sense Finance Common Sense Finance, making finace easy.

Financial freedom isn't hard to achieve but it takes time. If you haven't read my compounding article it explains why ti...
05/18/2023

Financial freedom isn't hard to achieve but it takes time. If you haven't read my compounding article it explains why time is important to maximize your moneys value now. It's important that you pay yourself first. First start by understanding where you're money is currently going and how much you have to get yourself out of debt. Create a budget – I don't mean a simple money in money out budget, I'm talking about a full understanding of your finances....

Financial freedom isn’t hard to achieve but it takes time. If you haven’t read my compounding article it explains why time is important to maximize your moneys value now. It’s imp…

A few years ago I had maxed out my 401k, I was maxing out a Roth IRA. I had a little extra money and needed to make a ch...
05/18/2023

A few years ago I had maxed out my 401k, I was maxing out a Roth IRA. I had a little extra money and needed to make a choice. Save in a savings account, invest, or get out of debt completely. I read a lot of articles, did my research, most said to invest or save but I just wasn't sure and nothing out there really walked me through the pros and cons....

A few years ago I had maxed out my 401k, I was maxing out a Roth IRA. I had a little extra money and needed to make a choice. Save in a savings account, invest, or get out of debt completely. I rea…

So we've created a budget and built up an emergency fund that we're comfortable with. The next step is to start paying o...
05/18/2023

So we've created a budget and built up an emergency fund that we're comfortable with. The next step is to start paying off that debt. There are two approaches to this that I like. The mathematical model. The mathematical model says start by listing all your debts in order of interest rate starting with the highest rate first. Pay down the loans in order and this will save you the most money in the long term....

So we’ve created a budget and built up an emergency fund that we’re comfortable with. The next step is to start paying off that debt. There are two approaches to this that I like. The m…

Step one of any financial plan should be a budget. A budget can be a simple estimate of monthly expenses or it can be a ...
05/18/2023

Step one of any financial plan should be a budget. A budget can be a simple estimate of monthly expenses or it can be a detailed list of actual amounts spent over the last several months. I highly recommend that it be the latter. When I created my first budget, I estimated my gas expenses at around $50 a month. Since I work from home, it seemed like a reasonable number....

Step one of any financial plan should be a budget. A budget can be a simple estimate of monthly expenses or it can be a detailed list of actual amounts spent over the last several months. I highly …

Emergency fund Unless you're just really lucky, saving and investing is how you will get rich. It requires some planning...
05/16/2023

Emergency fund Unless you're just really lucky, saving and investing is how you will get rich. It requires some planning and preparation. You need a budget so you know how much you can save, and you need an emergency fund so you aren't pulling from longer term investments to cover your bills or unexpected expenses. Emergency funds come in many different forms and there is no one size fit all approach so feel free to modify this to your specific scenario....

Emergency fund Unless you’re just really lucky, saving and investing is how you will get rich. It requires some planning and preparation. You need a budget so you know how much you can save, …

Are you a remote worker? Post pandemic a lot of us are. How does that impact your retirement savings? The old rules of n...
05/11/2023

Are you a remote worker? Post pandemic a lot of us are. How does that impact your retirement savings? The old rules of needing less money in retirement are out the window. Common wisdom says most people will need about 80% of their income in retirement. I see things a bit differently, and I think the common wisdom should be re-evaluated for most remote workers....

Are you a remote worker? Post pandemic a lot of us are. How does that impact your retirement savings? The old rules of needing less money in retirement are out the window. Common wisdom says most p…

Saving for retirement is one of the most important financial goals that everyone should prioritize. The earlier you star...
05/11/2023

Saving for retirement is one of the most important financial goals that everyone should prioritize. The earlier you start, the more time your money has to grow, and the more comfortable your retirement years will be. One of the best tools to help you save for retirement is a Roth IRA. In this blog, we will explore what a Roth IRA is and why you need one....

Saving for retirement is one of the most important financial goals that everyone should prioritize. The earlier you start, the more time your money has to grow, and the more comfortable your retire…

Retirement can be a daunting prospect, but with the right planning and preparation, it can be a comfortable and enjoyabl...
05/03/2023

Retirement can be a daunting prospect, but with the right planning and preparation, it can be a comfortable and enjoyable time in your life. One of the key tools for building a solid retirement plan is the 401K, a retirement savings account offered by most employers. In this blog post, we'll explore what a 401K is and how to maximize it to ensure a comfortable future....

Retirement can be a daunting prospect, but with the right planning and preparation, it can be a comfortable and enjoyable time in your life. One of the key tools for building a solid retirement pla…

The first step towards financial success is mastering the art of paying yourself first. It's easy to get caught up in th...
05/03/2023

The first step towards financial success is mastering the art of paying yourself first. It's easy to get caught up in the endless cycle of bills and expenses, leaving little room for savings. However, by prioritizing your own financial security, you can set yourself up for a comfortable retirement and potentially even retire earlier than most people. The most straightforward way to pay yourself first is through a 401K, which is a retirement savings account offered by most employers....

The first step towards financial success is mastering the art of paying yourself first. It’s easy to get caught up in the endless cycle of bills and expenses, leaving little room for savings.…

Managing money can be a daunting task, especially if you're just starting out. Whether you're trying to save for the fut...
05/03/2023

Managing money can be a daunting task, especially if you're just starting out. Whether you're trying to save for the future, pay off debt, or simply make ends meet, it can be challenging to know where to start. Many young adults have not been given the skills or knowledge to manage their day-to-day finances. However, the good news is that with a little bit of common sense and some practical tips, anyone can take control of their finances and build a secure financial future....

Managing money can be a daunting task, especially if you’re just starting out. Whether you’re trying to save for the future, pay off debt, or simply make ends meet, it can be challengin…

Albert Einstein once referred to compound interest as the "eighth wonder of the world." The power of compounding can hav...
05/03/2023

Albert Einstein once referred to compound interest as the "eighth wonder of the world." The power of compounding can have a significant impact on your finances over time. In this blog post, we'll explore what compound interest is and how it works with some real-life examples. What is Compound Interest? Compound interest is the interest that is earned not only on the initial investment but also on any interest earned on that investment....

Albert Einstein once referred to compound interest as the “eighth wonder of the world.” The power of compounding can have a significant impact on your finances over time. In this blog p…

Address

Bedford, IN

Website

Alerts

Be the first to know and let us send you an email when Common Sense Finance posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Common Sense Finance:

Shortcuts

Share

Category