Taxes, whether we admit it or not, drive a lot of our personal finance decisions. Avoiding or lowering them can influence where we choose to live, what kind of car we buy, where we send our children to school, whether we purchase a house, and many other everyday decisions. Everyone tries to limit the amount of taxes they pay. Taxes play a large role when we invest for retirement, as well.
Credit cards: A minimum payment might help you in the short term but could be one of your most expensive decisions.
Want to be your credit card company’s favorite customer? Just max out your card’s limit, agree to pay interest at a rate of 18 percent to 25 percent, and make only the minimum payment each month.
Wealth management is a financial services term that gets thrown around a lot and, yet, is not well understood even by people in the business. Wealth management and financial planning are very similar paths. They both assist clients with investment decisions and goals. However, what uniquely distinguishes the field of wealth management from financial planning is the clients.
In addition to the flowers, the chocolate, and the good champagne, remember these lasting financial planning ways to say I Love You every day to your dearest Valentine:
Follow the Golden Rule
Be as honest and accountable to your mate as you would like them to be with you about spending decisions and preferences.