Credit refers to your borrowing capacity and is given a score. These scores typically range from 300-850 and are based on several factors, including payment history, credit utilization, length of credit history, types of credit used, and recent credit inquiries. Your credit score is used to determine the terms and conditions of loans.

The purpose of a budget is to provide a clear overview of where money is coming from and where it is being spent, helping make informed decisions, prioritize expenses, and achieve financial goals. Proper budgeting can relieve stress due to money, leave some wiggle room, and help set you up for your future.

Net worth is a measure of an individual's financial standing. Net worth is calculated by subtracting liabilities (debts, loans, and financial obligations) from assets (cash, investments, properties, and valuable possessions). Regularly tracking and evaluating your net worth to assess progress toward financial goals can lead to a lifetime of good habits.

Savings are leftover money that has been set aside for use at another time. 2-3 months of “take home” income is recommended to be prepared for emergencies. Having savings can set you up for success and financial security.

A Will is a legal document that outlines your wishes regarding the distribution of your assets and the handling of your affairs after your death. A trust is an arrangement whereby a person holds property as its nominal owner for the good of one or more beneficiaries. They give you the comfort of knowing your family is taken care of and your affairs are in order.

There are two types of insurance agents, captive and independent. Captive works for one company, and independent works for multiple companies to get you the best deal. Reviewing coverages and what they mean is important to get the best fit for someone. Each company has benefits and disadvantages that must be considered before making a decision. Be aware of % deductibles on your home as they can quickly become more costly than a typical deductible.

Just because they are children doesn’t mean we cannot set them up for success early on. There are many options to help establish your kids with credit, money for college, medical expenses, and even set aside money for their eventual retirement.

Life insurance is designed to provide the beneficiaries a payout or death benefit upon your death. It offers financial protection and support to the loved ones left behind. There are various types of life insurance policies, including term life insurance, which provides coverage for a specified period, and permanent insurance, which offers lifelong protection. Life insurance aims to provide a financial safety net, replace lost income, cover funeral expenses, pay off debts, or ensure the financial stability of the beneficiaries in the event of your death.

Interest is the cost paid for using your money. Interest rates, which determine the amount of interest that borrowers have to pay to lenders on top of the principal amount, can vary based on factors such as the type of loan or investment, market conditions, and the risk associated with the transaction.

Health Insurance provides financial protection against the high costs of healthcare services, including doctor visits, hospitalization, prescription medications, and other medical treatments. There are several types of plans, including employer-sponsored, Medicare and Medicaid (government-sponsored), high deductible, individual, and more. Each plan has its advantages and disadvantages and should be reviewed carefully before choosing one.

Long-term care refers to services and support provided to you in need of help with daily activities due to chronic illness, disabilities, or cognitive impairments. These services are typically not covered by standard health insurance or Medicare. Long-term care can be provided in various settings, including nursing homes, assisted living facilities, or in your own home. Long-term care insurance policies vary in coverage and benefits, and they typically have a waiting period before benefits kick in and a maximum benefit period or a total dollar limit for coverage.

There are many ways to set yourself up for retirement. Accounts such as Roth IRAs, 401k’s, and pensions are some ways to financially support yourself during retirement. Something not thought about is taxes and how they can affect you once you retire. Knowing what money goes into each bucket (taxable, tax-deferred, and tax-free) can help in planning for your future.

A Home Equity Conversion Mortgage is a type of reverse mortgage loan allowing you to convert a portion of your home's equity into cash. It is backed by the Federal Housing Administration (FHA) which requires an age of 62 or older. The loan amount is based on factors such as your age, home value, and current interest rates.