Solvency

Reduce expenses or increase income

The second financial milestone is solvency, where individuals have an income but struggle to make ends meet due to expenses and possibly debt. To move towards solvency, the individual must either reduce their expenses or increase their income, while also staying current on all their bills. This can involve budgeting, negotiating bills, and seeking ways to increase income through side hustles or part-time work

March 28, 2023

The Ultimate Guide to Restoring Your Credit Score

Get back on track with your finances! Learn how to fix your credit score with our simple step-by-step guide.

March 16, 2023

Money Matters: Understanding Personal Finance

Learn about money to make good choices, save more, and win at the game of life. Start by reading books or talking to grown-ups who know about finance.

March 14, 2023

The Sneaky Trap of Lifestyle Inflation and How to Avoid It

Avoid spending too much money as you earn more. Save some for the future and enjoy your money without worrying.

March 10, 2023

The Importance of Paying off High-Interest Debt

Pay off high-interest debt to save money on interest payments and become debt-free.

March 9, 2023

Start Saving Early: Let Your Money Grow

Saving money means keeping some of your money in a safe place instead of spending it all. When you save money, it can grow bigger over time and help you buy things you really want in the future. The earlier you start saving, the more your money can grow!

March 8, 2023

Living Within Your Means: A Beginner's Guide

Spend less than you earn: the simple secret to financial success. Keep track of your money and avoid debt to achieve financial security.

March 4, 2023

Why We Splurge on Dining Out But Skimp on Other Things

Why do we spend easily on dining out, but overthink other purchases? It's called mental accounting. We mentally categorize our money and the perceived value of experiences.

March 3, 2023

The Debt-Free Journey: Strategies for Reaching Financial Freedom

"Want to be free from money worries? Make a plan to pay off debts, save money, and earn more. Every step counts!”

March 3, 2023

Deductive Reasoning for Financial Success: How Sherlock Holmes Would Approach Saving Money

Save money like Sherlock Holmes: track your spending, prioritize your expenses, create a budget, save smartly, and invest in the future!

March 3, 2023

The Myth of the Tax Bracket: Debunking Misconceptions About Higher Tax Rates

Getting a raise won't hurt your bottom line. Only the portion above the threshold is taxed higher. Don't fear the tax bracket.