There are 3 definitions of save/savings that relate to your personal finances. We will explain these 3 definitions using the “big 3 tools” of personal finance. The first definition of save is to reduce costs. This means that you find ways to buy the same thing for a lesser price. The second definition of save is to simply not spend. When you are faced with the personal choice of buying something or not, choose to not spend the money.

My answer to this question is YES. You may say that is silly but so is the question. You may choose paying off debt preceeds saving as it frees up money to save and usually the interest on the debt is higher. The one problem with that is the transition period when the debt is paid off. You have this huge surplus in your budget when the debt is paid off and no skill set for savings developed. That is why YES...both is the only answer.

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The execution of the task of entering a car lease on your net worth balance sheet is rather simple. You take the monthly payment on your car lease, multiply it by the number of months left on your car lease and enter it on the liabilities side of your balance sheet.

I like a diversified portfolio of dividend generating stocks bought for long-term income. It is the same formula that Warren Buffet was taught and has used to make his fortune.

Too many people buy a mutual fund at its peak, sell in a panic when it drops 10 per cent, and then rant against "casino markets." But some will buy again – after the market has gone back up to the top.

According to recent researches, it has been seen that thousands of college students are becoming financially literate in order to conquer their soaring debt burden. Given that all colleges or high schools offer students with little or no education on money management, it is crucial for students to equip themselves with the financial lessons that can help them stay away from high interest debts.

Vehicle finance is not as simple as buying a car and getting a loan to pay for it. Vehicle finance is entangled with the warranty coverage, resale value, insurance costs, fuel efficiency and depreciation. It also has a lot to do with price. The cost of cheap financing is often built into the asking price of the car. The cost of cheap financing is often only on cars that are hard to sell. You want to buy a good car not just good financing. You need to be shopping for the best overall deal.