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T.I.F.F. = Teaching and Inspiring Financial Freedom

Financial independence is the goal so let's dive in

Speaking of... what is financial literacy anyway? This is an excellent place to start!

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529 PLAN investing money management personal finance wednesday word of the week Dec 01, 2021

Definition

529 plans are also called qualified tuition programs.  These plans are used as a tax shelter and a way to invest and save money for college expenses in the future.  

Why It's Important

Most people don't know this, but there are actually two flavors of 529 plans.  The...

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ECONOMIC CYCLE business & entrepreneurship wednesday word of the week Sep 15, 2021

The Economic Cycle

Definition


The economic cycle is the fluctuation of the economy between periods of expansion (growth) and contraction (recession). Factors such as gross domestic product (GDP), interest rates, total employment, and consumer spending, can help to determine the current stage...

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AMORTIZATION loans wednesday word of the week Jul 14, 2021

This article may contain affiliate links.  We do not recommend anything we haven’t personally tried! 

Definition


Amortization is the gradual reduction of a debt over a given period.

Why It's Important

This is how you can figure out how much you are really spending over the course of...

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INCOME wednesday word of the week Mar 03, 2021

Definition

What is earned from salaries or wages and other sources like bonuses, interest, dividends, housing allowance, etc.

Why It's Important

So, you may be thinking, well, duh, Tiffany.  I know what income is.  I make it every day!  But are you maximizing your income?...

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FINANCIAL LITERACY wednesday word of the week Sep 09, 2020

Definition

Financial literacy is the ability to understand and apply various financial skills, including budgeting, investing, and other financial management strategies.

Why It's Important

My, oh, my!  Financial literacy is critical to master as it affects everything in your life, from...

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CAPITAL GAINS investing wednesday word of the week Aug 05, 2020

Definition
Capital gains are the profit from a sale of property or an investment

Why It's Important
When you have investments, you are not taxed until you have capital gains.  Capital gains are only triggered when you make a sale at a profit.  This is the opposite of realized loss....

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UNIFORM SECURITY ACT investing wednesday word of the week Jul 15, 2020

Definition

The Uniform Security Act is model  legislation for securities industry regulation at the state level.  Each state may adopt the legislation in its entirety or it may adapt it (within limits) to suit its needs.

Why It's Important

The USA, as it is commonly called, protects...

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PAYDAY LOANS loans wednesday word of the week Jul 01, 2020

Definition

A payday loan is a loan in which a lender gives the borrower a loan, typically under $500, that is due on the borrower's next payday.

Why It's Important

In my opinion, payday loans are a type of predatory lending.  They typically have high-interest rates and or fees....

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MORTGAGE investing loans personal debt wednesday word of the week Jun 24, 2020

Definition

A mortgage is a legal agreement by a bank or other financial institution and a debtor.  The financial institution lends money with interest and takes ownership of the property if the debtor defaults.  This is a type of secured debt.

Why It's Important

Most people...

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A LESSON IN RESILIENCE money management wednesday word of the week Jun 18, 2020

According to the Oxford Dictionary, Resilience is "the capacity to recover quickly from difficulties; toughness."  I have been reticent on my blog as life has taken a tailspin.  Between the coronavirus pandemic, protesting to prove MY LIFE MATTERS, getting married, taking a securities...

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