Good Financial Reads: How to Build an Emergency Fund, 8 Important Money Terms You Don’t Know (but Should), and More

Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

Catch up on some of the latest posts with this week's roundup:

How to Build an Emergency Fund

by Cathy Derus, Brightwater Financial

I previously shared that it’s more important for parents to have an emergency fund in place, pay off debt, and save for their own retirement before thinking about saving for college. It’s the same advice when flight attendants tell you to put on your own oxygen mask before taking care of others.

An emergency fund is money set aside to cover the unexpected: the cost of trips to the emergency room, vet bills, major car or house repairs, or living expenses while looking for a new job.

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8 Important Money Terms You Don’t Know (but Should)

by Mary Beth Storjohann, Workable Wealth

If you’ve been following my blog or have read my book, you know how much I dislike fancy financial jargon. Personal finance shouldn’t be complicated and both you and I deserve to have a clear understanding of what’s happening with our hard earned money.

With this in mind and the fact that April is financial literacy month, I’m taking pause and breaking down 8 important money terms you may not know (but should).

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All About That Credit: Installment Accounts

by Kelly Luethje, Willow Planning Group

Are you considering a loan to buy a car, or procuring a mortgage to purchase a home? Do you have student loan debt? If you answered yes, then you probably have an installment account. These accounts have a fixed payment for a fixed period of time. You do not have to pay them in full each month, or make interest only payments, as with revolving accounts, such as credit cards and other lines of credit. Installment account payments will be the same every month until the loan is paid in full.

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Preparing Your Finances to Buy a Home

by Michael Solari, Solari Financial Planning

Preparing to buy a home begins long before you start scanning the listing sites or reaching out to a realtor. The last thing you want is to buy a house you can’t afford, underestimate your monthly expenses or put too little down on your future home. So if homeownership is on your radar, here’s what you can do to get prepared:

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