Author - Alan Moore, CFP®, MS

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Quiz: What’s Your Level Of Financial Literacy?
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3 Reasons You Need An Emergency Fund
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What Exactly Is A Roth IRA?
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Things To Consider BEFORE Co-Signing A Student Loan

Quiz: What’s Your Level Of Financial Literacy?

Grab a sheet of paper, and jot down your answers to the following financial questions:

1. Suppose you have $100 in a savings account earning 2 percent interest a year. After five years, would you have more than $102, exactly $102 or less than $102?
a. More than $102
b. Exactly $102
c. Less than $102
d. Don’t know

2. Imagine that the interest rate on your savings account is 1 percent a year and inflation is 2 percent a year. After one year, would the money in the account buy more than it does today, exactly the same or …

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3 Reasons You Need An Emergency Fund

For most Americans, having an emergency fund seems like a pipe dream. In fact, 64% of Americans can’t afford a $1,000 unplanned expense. Think about how many $1,000 unplanned expenses could happen to you tomorrow. The transmission on the car could go out, your child could have a medical emergency, or you could lose your job. These may seem like rare occurrences, but you just never know when one might happen to you or your family. Although there are many reason to have an emergency fund, here are 3 reasons to have get you started:

  1. Career Transition: Did you
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What Exactly Is A Roth IRA?

Roth IRA’s (Individual Retirement Account) were introduced in 1997 by Senator William Roth. 15 years later, there is still a lot of confusion about what they actually are, and who should use them. Prior to 1997, there were only IRA’s (now called Traditional IRA’s to differentiate them from Roth IRA’s). You could put money into a Traditional IRA each year, and deduct your contribution on your tax return. This meant you didn’t have to pay income taxes on your Traditional IRA contribution. The money would then grow tax deferred, so you didn’t pay taxes on the growth every …

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Things To Consider BEFORE Co-Signing A Student Loan

The number of parents and grandparents co-signing student loans is on the rise. As college costs rise, students may be forced to take out student loans in order to afford their degree. Banks and credit unions that issue private student loans typically require a co-signer before they will give a student money, and even some government student loans require a co-signer. Here are some things to consider before you agree to co-sign a student loan.

What does co-signing mean?
Many people have no idea what co-signing a loan actually means. They simply sign their name on the dotted line, and …

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