Credit Management
A credit card is a specified dollar amount given to you by a financial institution. You can utilize your credit card whenever and wherever you choose.
A charge card is a specified dollar amount given to you by a specific company. It only can be used in that company’s stores and affiliates.
A loan is a specified dollar amount extended to you for a specific purpose. Mortgage, education and car loans are most popular.
Credit Report
Your credit report is an indicator of how well you managed your credit. It reports by whom and how much credit you’ve been extended; how much credit is outstanding debt and how timely you’ve repaid your debt, among other information. Your credit report is used when you apply for new credit, a certain type of job and an apartment.
Budgeting
A personal budget helps you to live within your financial boundaries. It teaches you how to develop responsible financial habits with your savings and spending. Most importantly, a budget provides you with clear warning signs before you enter into debt and destruction.
View your budget as a friendly reminder that you are now an adult with financial goals, dreams and obligations. Your personal budget is your roadmap that keeps you on the road to success and wealth.
Investing Principles
To create an investment portfolio that suits your money personality, it is important to determine your risk tolerance threshold and what type of asset-allocation mix compliments your risk profile.
There are four levels of risk; no risk, low risk, moderate risk and high risk. Depending on the level of risk you take it will provide you “peace of mind” or at times cause you to “lose your mind”. But whatever your risk level is, it is a choice that you must decide for yourself. When investing with a financial professional complete a risk tolerance evaluation to determine your level of risk.
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