Your Top Money Questions, Answered

Managing your money can be confusing, with so many conflicting bits of advice out there. To help cut through the noise, we’re tackling some of the most frequently asked money questions people have.

Read on for simple, straightforward answers to your top personal finance FAQs:

🤔 Should I be using a budget?

Yes, having a budget is foundational to taking control of your finances. Track income and expenses, identify waste, and craft a balanced spending plan. Budgeting apps can help and there are a lot of fun ones out there like Oops and CoPilot.

🤔 What’s better — saving or paying off debt?

Experts are split on this one. Generally speaking, if you are starting from scratch, it’s a good idea to prioritize building an emergency fund before aggressively paying off debt. Having a financial safety net ensures you’re prepared for unexpected expenses, reducing the need to rely on credit cards.

🤔 How much should I have in emergency savings?

Aim for 3–6 months of living expenses in savings to handle unexpected expenses or income disruptions. Start small if needed.

🤔 What’s the best way to build credit?

Using credit cards responsibly and paying balances in full every month will help build your credit history and score over time.

Pull also helps you build your credit score by reporting repayments towards your salary advance to credit bureaus.

🤔 Should I invest or pay off student loans first?

Pay down student loans aggressively, focusing any extra funds on highest-interest debt first. Then invest what you were putting towards loans.

🤔 What’s the best way to start investing?

Begin by setting clear financial goals and establishing an emergency fund. Then start with low risk investment options like a 401(k), IRA, or a diversified portfolio of stocks and bonds. Robo-advisors like Wealthfront and Betterment are a great place to start.

Got more money questions? Comment here or reach out to us at contact@pullnow.com ✌️