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MyFinanceOnline
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In this video series focusing on the time value of money and paying down your debt, Dr. Joseph Newman from the Auburn University-Montgomery School of Business talks about how time value of money can work for you when you save or invest and works against you in areas such as having a high credit card balance. This is an important series for anyone to understand the concept of time value of money and how it can impact your finances.
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Time Value of Money may be one of the most important concepts of personal finance and financial management. Small amounts of money spent today can affect large purchases in the future. |
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To get a better understanding on the concept of time value of money, we give an example from Benjamin Franklin on how compound interest can grow to large sums of money. |
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In this personal finance segment, Dr. Newman talks about how Benjamin Franklin's example made an impact of him and how setting up an investment for future generations by using loose change. |
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Financial institutions use the time value of money to make money and so should you. We also cover the important Rule of 72 and how it can affect your finances. |
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The sooner that you pay off your debt, the less interest that you will pay. We also cover an idea for decreasing your mortgage payments. |
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Save thousands of dollars by paying off your mortgage sooner. This video segment on personal finance is an interesting approach to saving money on your mortgage. |
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By cutting back on small purchases, coupled with the time value of money can have huge financial payoffs for your investments. |
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Carrying large credit card balances is having the principle of time value of money working against you. We also cover how to use time value of money to save for large purchases. |
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Is it better to pay off your mortgage or should you invest in other areas? Ask this question to a few financial planners and you may get several different ideas. Dr. Newman gives his thoughts on this important topic. |
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Credit card companies make large amounts of money from interest paid on credit cards. In this financial management segment, we give some strategies for paying off credit card debt. |
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