A type of loan used to purchase real estate — A mortgage is a loan you use to purchase real estate, such as a house or land. When you sign off on a mortgage, the lender agrees to loan you the money, and you agree to repay the mortgage over a period of time. In exchange for the mortgage, you…

A basket of securities — An ETF (exchange-traded fund) is a basket of securities, such as stocks and bonds, that trades on a stock exchange. There are both passively managed and actively managed ETFs. Passively managed ETFs track an index such as the S&P 500 Index or the Dow Jones Industrial Average. An actively managed…

Make the process simple for yourself — Getting your first credit card can be a daunting task. There are many factors to consider, such as interest rates, fees, and rewards programs. But don’t worry, this article is here to help. The following are three quick points to simplify the process of getting your first credit card in…

Your most important credit score — Your FICO Score is a three-digit number that 90% of top lenders use to assess your creditworthiness. It is calculated based on information in your credit report, including your payment history, amount of debt, length of credit history, and types of credit used. A higher FICO Score means you are…

Make personal finance simple for yourself — Personal finance can be tough when you are getting started. Learning about optimizing your budgeting, saving, and investing can be tiring. You can take advantage of multiple free resources to progress towards your personal finance goals. Three of my favorite resources that have helped me make personal finance simple for…

Stay up to date on economic events — An economic calendar is a list of upcoming economic events that are likely to have an impact on the financial markets. These events can include things like interest rate decisions, job reports, and inflation data. By tracking these events, investors can get a better sense of the overall health of…

Money stashed away for emergencies — You will never know when certain events will occur. That is why it is important to have an emergency fund. An emergency fund is a pool of money you stash away in a dedicated savings account to cover unexpected expenses. These expenses could include car repairs, medical bills, or unexpected…

Exposure to equities globally — The Vanguard Total World Stock Index Fund (VT) is an exchange-traded fund (ETF) that offers investors exposure to the global equity markets. It is a passively managed fund, meaning that it seeks to track the performance of an index, rather than trying to outperform it through active management. The fund…

Get what you are entitled to — Your credit report is a vital report that can significantly impact your financial life. It shows lenders, landlords, and others your credit history, including key items such as your payment history and credit utilization. If you are planning to apply for a loan, mortgage, or any form of credit, your…