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The Power of Compounding

April is Financial Literacy Month so I’m writing about general financial topics this month. Today’s topic: the power of compounding. The power of compounding is what makes long-term savings so beneficial. It’s also what makes debt so costly. As Albert Einstein (yes, that Albert Einstein) said, “Compound interest is the eighth wonder of the world. He who understands it, earns it;…

Pre-Tax or Roth: How do I Choose?

April is Financial Literacy Month, so I’m writing about some general financial literacy topics. Today’s topic: Pre-Tax and Roth retirement savings and how to decide which to use. Saving can be hard. Not just because you have to come up with money to save, but because once you do, you have a bewildering range of choices. So many that a…

The Savings Hierarchy

April is Financial Literacy Month so I’m talking about some general personal finance topics that might be of interest to you and your students. Today I’m writing about the savings hierarchy: What savings accounts should you have, and what goes into each one? The savings hierarchy fits within the overall hierarchy of financial needs. You’ve seen these types of pyramids…

Colleges Still Have Openings!

If you’re still looking for your dream school, head over to NACAC’s College Openings Update. This list of colleges still accepting applications is released annually in early April, and serves as a reminder that plenty of colleges are happy to welcome students rather than rejecting them. The database allows you to search on numerous criteria including location and availability of…

Credit Scores

April is Financial Literacy month, so I’m going to write about some broader topics that might be helpful to you and your student. Starting with credit scores: what are they, how do you get one, why do you care? My friend Jennifer, who’s also a financial advisor, says that a credit score is the adult version of an SAT score….

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