You’ll Thank Yourself a Year from NowWith the New Year right around the corner, it’s the perfect time to make resolutions before the calendar flips to January 1. Every year, many people base their resolutions on things like faith, family, and personal wellness. But financial stability tends to trail far behind. For instance, in 2015, only 29% reported financial considerations in their New Year's resolutions. AAFMAA is hoping to change that this year by providing the top 4 financial resolutions to make for 2018: Financial Resolution #1 — Diversify Your Income StreamsDoes the bulk of your annual income come from one source? Is there one slice of the pie that dominates your other income sources? It’s a good idea to diversify your income streams as much as possible so you aren’t dependent on one particular source as your sole income.Create a game a plan to grow other income streams so that you increase your overall income and decrease your reliance on one main source. This resolution is a ...
It has been reported in the media lately that, in 2021, regulators will replace LIBOR (the London Interbank Offered Rate) with a system of rates that are more closely tied to interest rates on actual loans. LIBOR is the financial benchmark that is tied to an estimated $350 trillion of financial instruments like bonds and derivatives and is used to set many variable interest rate transactions, including some adjustable rate mortgages (ARMs). Read the full article to see how the forecast of this economic area will affect your own mortgage rates both in the short- and long-term.
It's impossible to forget the financial crisis of 2007-2008. Large investment banks failed, the government had to bail out financial institutions and other huge corporations, and Americans saw the values of their homes drop significantly. The Federal Reserve responded with a new economic policy, and many elements of those changes are still in place a decade later. Here are 4 basic strategies for making your money grow in our low interest rate economy.