Mortgage rates jumped above the 3% level for just the 2nd time since 21st April. In the week ending 30th September, 30-year fixed rates surged by 13 basis points to 3.01%. 30-year mortgage rates have risen just once beyond the 3% mark Since 21st April, when rates hit 3.02% on 23rd June. Compared to this time last year, 30-year fixed […]
Category: Personal Finance
How Big of a Threat Does Inflation Pose to Your Retirement?
As America’s economy reopens, we’re seeing higher inflation rates, and this unwelcome surge should prompt retirees to consider the threat it could pose to their financial security. The 5.4% rise in the consumer price index in the last year marked the highest inflation in almost 13 years. If you remember the soaring, double-digit inflation rates […]
The plethora of Amazon grocery delivery services that can save you time and money
The pandemic has changed how we buy food. Lots of people are switching from in-person shopping to grocery delivery. Fortunately, Amazon is meeting the demand with several grocery delivery services that could bring everything you need to your door in under two hours. Prime members can get 2-hour delivery on more than 170,000 items (and […]
Medical Debt Is Different, So Avoid This Common Savings Strategy
If health care bills are piling up and your finances are tightly stretched, you’ll want to explore every avenue you have to regain control over your budget. Refinancing and consolidation are popular remedies for other kinds of debt, like the high-interest debt on credit cards. You just take out a new loan with better terms […]
Tips For Saving Money In A Small Business
Money management is an important part of any business but especially a smaller business or a company that is still in its infancy – here are some tips on how you can save that precious cash and put it back into growing your business. Repair instead of replacing – do not be so quick to […]
6 simple ways overspenders can save money
Let’s face it, some of us are saving wizards while for others, it comes as a real struggle. If you find yourself questioning where all your money went, then you are one of those people who have a harder time saving than others. This is nothing to feel bad about, you just haven’t yet found what works […]
3 Social Security Mistakes You Might Make During Your Working Years
Retirees routinely rely on Social Security to cover their living expenses. Therefore, the more money you’re able to collect in benefits, the better. You’ll often be warned that filing for Social Security at the wrong age could cause you a world of financial stress throughout retirement. But here are some mistakes you might make throughout […]
Hey, Parents: Caution Is Critical with UTMA Custodial Accounts
Parents, grandparents and others who wish to invest in the future of a child they love are often drawn to the idea of opening UTMA custodial brokerage accounts to provide a financial head start. UTMA accounts, named for the Uniform Transfers to Minors Act that governs them, offer a tax-advantaged way to gift assets to […]
5 Social Security Secrets for Even Bigger Checks
Pop quiz! How big is the average Social Security retirement benefit? Do you know? Want to guess? It was recently $1,559 per month — or about $18,700 per year. If that doesn’t sound like a lot to you, you’re right — it isn’t. Consider, for example, that the Federal Poverty Level threshold for individuals in […]
5 unexpected sources of retirement income you can tap: Stock dividends, HSAs, more
Retirees are often assumed to be living on a “fixed income.” Retirement income is often not that fixed, though. Social Security checks rise in size over the years, thanks to cost-of-living increases. And other income sources, such as dividends and annuities, also frequently feature changing income. It’s worth setting up multiple income streams for yourself […]
Your Money: Don’t make these common retirement planning mistakes
One of the most important steps in planning for retirement is to estimate how much income you’ll need to cover your expenses when you retire. We call the point where your sources of retirement income are large enough to cover your expenses “financial independence.” Once you reach this point, going to work every day becomes […]
Fun Money Games To Try If You’re Struggling With Saving
Saving money has long been a popular resolution, but in 2021, as a pandemic that sent millions into financial insecurity rages on, the pressure is on. The task of building up savings might feel particularly dreary after these strange and estranged holidays where we mostly didn’t travel to see family, mostly didn’t take a winter […]