What is Medium-interest Debt?
Medium-interest debt typically has interest rates in the mid to high single digits (e.g. perhaps 4% - 9%). Paying down this type of debt is often done with consideration to your other financial [...]
Fund Your Emergency Fund to Your Growth Level
In the Growth stage of financial maturity, you should grow your emergency fund to cover three to six months of expenses. (You should aim for 1-3 months in "Security", and 6 months to [...]
Adjust Automatic Savings to Your Emergency Fund – Growth Level
MoneySwell's tools can help you determine how much more you can afford to put toward your emergency fund. (See below.) If it’s not clear if you can afford to increase your automatic transfer [...]
An Emergency Fund in the Growth Stage
In the Growth stage you need to continue to grow your emergency fund. As your lifestyle, spending, personal obligations, dreams for the future have changed over the course of your financial journey, consider [...]
Build a Growth Mindset for Your Money
By now, you've completed the tasks in Foundations and Security. You've built a strong base of financial health. From here, you have the power to grow. Now, you'll focus on how to increase [...]
Pay off all Medium-interest Debt
Once you pay off your medium-interest debt you can start putting some or all that money toward medium-term savings goals like vacations, major purchases, or long-term savings goals like retirement. [...]
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