Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won't grow any faster than the rate of inflation. ↗
I get so frustrated when people tell me it's unrealistic to create an eight-month emergency savings fund, or have money saved for a home down payment, or pay off their $5,000 credit card balance. ↗
I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score. ↗
I have never been a fan of bond funds. Unlike a direct investment in an individual bond that you can hold to maturity and be assured you will get your principal back (assuming no default), a fund has no finite maturity date and most funds are actively traded. ↗
I love, love, love that you want to use your debit card. But to keep your credit score solid, you still need to keep a few credit cards and use them at least once every few months. ↗
If you wait until your children are high school seniors to spring it on them that there's not a whole lot of money for school, they won't have too many options. ↗
