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Creative Ideas To Pay College Tuition

Three Ways To Build Generational Wealth Through Side Hustles

To build wealth that can be passed down through generations, getting out of debt-- and staying out of debt--is very important. On the other hand, Business Insider personal finance contributor Jannese Torres-Rodriguez argues increasing your income is just as important. It's not always possible to find jobs that progressively pay more and more. But side hustles can serve that purpose instead. Torres-Rodriguez says her side hustles now bring in roughly $100,000 a year, and she uses it in three ways to build generational wealth. She first accelerated her own retirement savings. Then, she helped her niece with college, so she doesn't have to leave school burdened with debt. Now, it gives her enormous pleasure to be helping out her own beloved parents through their golden years!

What Matters Most In Deciding Whether To Pay Off Your Mortgage Early

Especially in uncertain times like these, the dream of owning one's home free and clear is an enticing one. On the other hand, isn't saving for retirement, or college funds more important? According to Business Insider, if you have the opportunity to pay off your mortgage early, the deciding factor comes down to just one thing: interest rates. If the rate on your mortgage is higher than the rate you'd earn by investing cash in the stock market, pay down the debt first. But before you do that, run the numbers to see if refinancing your mortgage would make sense. If so, you can apply the freed-up cash towards your high-interest debt. Once that's cleared up, pay off the mortgage!

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