Thinking about the future is a great way to motivate yourself to stick to a debt repayment plan. When you identify goals that motivate you, it may not seem like as much of a sacrifice to put a few hundred dollars toward eliminating high-interest debt every month. The faster you pay off your balances, the sooner […]
There’s one expense even die-hard budgeters tend to leave out: Savings. Is saving an expense? Maybe not technically. But if you treat it that way, you’re much more likely to do it. Just as you wouldn’t stiff the electric company or your cable provider, treating your savings or retirement account as a bill — an […]
Mortgage rates that keep retreating to fresh record lows have finally gotten the attention of homeowners — and in a big way. Applications for refinance loans are surging as more owners heed the advice that they can save a pile of money by trading in their existing mortgages for new ones with sharply reduced rates. […]
An annuity is an insurance product that offers guaranteed income. In its simplest form, an annuity involves setting aside a certain amount of money and then receiving regular payments over a designated time period. This might consist of ongoing paychecks that are guaranteed for your lifetime or for the next 10 or 20 years. There are many different kinds […]
“We plan on filing for divorce soon,” a recent email to me from “Benny” stated. “There are some papers my wife, “Laura,” wants me to sign. Could you tell me what they are all about? “She is financially irresponsible. I give her money to pay taxes and she buys new clothing. We are $50,000 in […]
Saving for retirement is essential, and those with a workplace 401(k) have a convenient way to do it. With a 401(k), you can have money taken directly out of your paycheck and invested. Contributions are made with pre-tax dollars, saving you a substantial amount of money. And your employer may match some of your contributions, […]
Marriage is made up of about a thousand daily decisions — and 700 of them involve money. Often, one of the first and biggest is whether to merge finances. A 2018 survey conducted by Bank of America found that 28% of millennials keep their finances separate from their partners’, while 11% of Generation X and […]
For many Americans, budgeting has become a more precarious balancing act these days. Both sides of the equation — income and expenses — are wrought with uncertainty. What will happen when your unemployment benefits run out? Will you be able to keep up with your credit card payments? Here is some information on where things […]
Many Americans took advantage of the three extra months to prepare their tax returns this year, but now that the deadline has arrived, what should you do if you are running out of time? Oftentimes people run up against the deadline if they do not have the money to pay.But penalties and interest begin accruing […]
You’ve had it planned for decades: 2020 was supposed to be the year you left the workforce for good to embark upon whatever adventures you anticipated in retirement. And then, 2020 arrived, bringing one jarring event after another. The pandemic shut down our country and brought about a market downturn it could take years to […]
If your income has been hit by the coronavirus pandemic, now may be a good time to find ways to stretch your finances a little further. This is especially true if you are balancing multiple debts, you’re anticipating less money coming in and you’re not sure how to prioritize your bills. If you are regularly investing in […]
SO YOU’VE BEEN TRYING to think of passive income ideas. And why not? It’s practically the American dream. We all want to lie in a hammock and make money without actually doing anything. Unfortunately, unless you come into an inheritance or grow up with a trust fund, you’re probably going to have to do something […]
