What Is Net Worth? Meaning & Example

A budget is a plan for how you will spend, save and invest your income. It helps you direct money toward your priorities instead of wondering where it went.

Compound interest is interest earned on both your original money and the interest already added to it. Over long periods it can make savings grow much faster than simple interest.

The debt avalanche method pays minimums on all debts and puts extra money toward the debt with the highest interest rate first. It typically saves the most interest.