Save it or spend it? That’s the question to answer when you find extra money.
Our friends at Kiplinger’s Personal Finance magazine headlined its February 2018 issue with great approaches when the figure at hand is $1,000, $10,000 or $100,000. I have some ideas, too.
The best opportunity with money that you unexpectedly discover – either from a windfall or cuts in spending you have achieved – in my view centers on “leverage.”
Leverage can mean different things to different people. It can be financial leverage by borrowing money to buy a property you can’t pay for with cash. Or political leverage when the majority needs the minority to pass legislation.
I like the following definition of leverage: “using something to maximum advantage.” More