Master Your Money
Explore financial concepts and general principles
Educational Content: This information is for educational purposes only and should not be considered personalized financial advice. Always consult qualified professionals for your specific financial situation.
Financial Fundamentals
Core financial concepts and principles
50/30/20 Rule
50% needs, 30% wants, 20% savings and debt repayment
Emergency Fund
Save 3-6 months of expenses in a high-yield savings account
Pay Yourself First
A strategy involving automated savings before discretionary spending
Debt Avalanche
Pay minimums on all debts, extra payments to highest interest rate debt
Debt Snowball
Pay minimums on all debts, extra payments to smallest balance first
Credit Strategy
Common approach: full monthly payment, utilization under 30%
Compound Interest
Time can be a significant factor - early investing is a common strategy
Risk vs Return
Higher potential returns come with higher risk - diversify your investments
Dollar-Cost Averaging
Regular investing regardless of market conditions is a common approach
Major Financial Decisions
Information about significant financial decisions
28/36 Guideline
Common benchmark: 28% of gross income for housing, 36% for total debt
Down Payment Information
20% down typically avoids PMI, 3-5% down payments are also common
Total Cost of Ownership
Costs often include property taxes, insurance, maintenance, and HOA fees
15% Guideline
Common benchmark: car payments up to 15% of gross monthly income
New vs Used
New cars typically depreciate 20-30% in the first year
Total Transportation Costs
Costs often include insurance, gas, maintenance, and registration
Advanced Financial Planning
Take your financial knowledge to the next level
Rule of 25
Common guideline: 25x annual expenses (based on 4% withdrawal rate)
Employer Match
Many employees utilize full company match as additional compensation
401(k) vs IRA
401(k): Higher limits, employer match. IRA: More investment options
Emergency Fund Size
3-6 months expenses for stable jobs, 6-12 months for unstable income
Where to Keep It
High-yield savings account - accessible but separate from checking
Build Priority
Common approach: $1,000 starter fund, then full emergency fund
Tax Brackets
Progressive tax system - only income above each bracket is taxed at that rate
Standard vs Itemized
Take whichever is higher: standard deduction or itemized deductions
Tax Withholding
Common target: owing/receiving less than $1,000
Financial Principles
Common financial strategies and approaches
Automation
Automatic transfers for savings and bills are commonly used to simplify financial management.
Net Worth Tracking
Monthly monitoring of assets minus liabilities can help track financial progress.
Subscription Review
Quarterly review of subscriptions may identify unused services.
Portfolio Rebalancing
Annual portfolio review is a common practice, especially when allocations drift from targets.
Explore Financial Scenarios
Use our calculators to explore different financial scenarios for educational purposes.