“Basic budgeting is easily configured into trips to the store with young children, utilizing the envelope plan or something similar,” says Lori Gross, financial and investment advisor at Outlook Financial Center in Troy, Ohio.
The plans are a good way to save for education, if that’s not the only savings vehicle you’re using, said Lori Gross, financial and investment advisor at Outlook Financial Center in Troy, Ohio.
Those missed payments may not have affected your credit score before, but they will soon, experts warn. “Thirty-five percent of your FICO score is paying your bills on time,” said Rob Burnette, investment advisor representative at Outlook Financial Center.
"You should be able to make principal-only payments in addition to your regularly scheduled payments," says Rob Burnette, investment advisor representative and professional tax preparer at Outlook Financial Center.
Rob Burnette, an investment advisor representative and professional tax preparer at Outlook Financial Center, suggested there really is no accurate estimation for the long-term in any environment. He pointed to inflation extremes over the past 30 years that have ranged from near zero to over 9%.
