Banking

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An Introduction To Compound Interest With Spreadsheets, Part 2: Monthly Compound Interest, APRs, and APYs

Previously, we discussed how compound interest works on a year-by-year basis, but in the real world, interest is usually compounded more often than that. For many purposes, monthly compounding is used, so let’s look at monthly compounding. Fire up your spreadsheet and enter a few labels:In A1, enter Monthly Compound Interest ExampleIn A3, enter AmountIn …

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Questions About Overdrafts, Soup, Public Goods, Chess, Cord Cutting, and More!

Mailbag: Questions About Paper Shredders, Coverdells, Tax Software, Self-Care and More!

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to summaries of five or fewer words. Click on the number to jump straight down to the question.1. Stock options to repay debt2. Replacing a washer and dryer3. Eating out constantly4. Best paper shredder5. Archiving magazines?6. Stuck in part-time loop7. The basics …

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https://www.thesimpledollar.com/credit-cards/blog/im-in-big-financial-trouble-where-do-i-start/

Ten Strategies for Staying Motivated Toward Your Financial (and Other) Goals

Goal-setting plays a pretty major role in my life. Over the last several years, setting and sticking with goals eliminated all of our debts, bought a home, and enabled a career switch – and those are just the financial goals. At the same time, I’ve failed at more goals than I’ve ever achieved. I’ve tried …

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