Emergencies are expensive. On Wednesday, personal finance site GoBankingRates.com unveiled calculations for how much different emergencies might actually cost the average American, using Census Bureau, FEMA, HomeAdvisor, Insurance.com and other data. And brace yourselves, America, most of them cost far more than you’ve got saved. Average cost of emergencies Job loss, government shutdown, furlough $28,824 […]
TO BECOME ELIGIBLE FOR Social Security disability benefits, you must be unable to engage in substantial gainful activity. However, you may be able to earn a small amount of income while receiving Social Security disability payments. “It is possible to qualify for Social Security disability benefits and still work in a limited capacity,” says Nick […]
When Barack Obama ran for president for the last time in 2012, sweeping reform of our college financing system wasn’t even on his agenda, let alone that of his Republican opponent Mitt Romney. Fast forward just seven years and in the first few months of the primary contest for the Democratic nomination, candidates have started […]
Marie Kondo’s guiding principles — holding onto what brings you joy and letting go of the rest — can also apply to your paperwork. “This is another category of items that you should be dealing with,” said Tony Steuer, author of “Get Ready! A Step-by-Step Planner for Maintaining Your Financial First-Aid Kit.” “If you do […]
When filling up your car with gas, you may end up leaving the station with more than just a full tank. CompareCards.com says credit and debit card skimming is a growing threat to consumers at the gas pump. Skimming is type of fraud where criminals steal data through bogus card readers they attach to payment […]
Tax-filing season has begun. Americans have until April 15 to file their income taxes. There’s been some good news for workers over the last year: Unemployment hovers at 3.9% and average hourly earnings rose by 3.2% on the year in December. And nearly half of Americans don’t owe a dime of federal income tax. Approximately […]
It’s the pivotal question that all soon-to-be retirees should answer: Do we have enough saved to last us? One simple calculation can help give you some clarity. “As you can see, at its core, cash flow analysis is a simple exercise. It’s also an incredibly important one that helps you recognize your cash flow needs […]
Put down the latte and listen up: If you’re like the millions of Americans living paycheck to paycheck, saving money needs to be on the top of your to-do list. Like, stat. Understanding personal finance can be intimidating. You know how much money you make and you’re trying to save a little bit here and […]
It’s not a secret that student debt is a burden for millions of Americans. Collectively, former students owe more than $1.5 trillion in loans, and as college costs rise, that number stands to climb. But here’s a bit of good news for indebted Americans whose loan payments eat up more of their income than they can comfortably […]
Americans are notoriously bad at saving money, which explains why the majority live paycheck to paycheck, and why only 60% of U.S. adults have the funds to cover a $400 emergency. If your savings are in a sorry state, it’s crucial that you take steps to improve. Here are a few reasons you might be neglecting […]
Many financial planners, myself included, group debts into two broad categories — good debts and bad debts. Good debts include those that have relatively low interest rates and will help enhance your life. For example, a mortgage allows you to buy a home, which will hopefully increase in value over time. An auto loan (assuming […]
Paying off debt is a worthy goal, and it should be near the top of your financial to-do list if you have high-interest loans. But freeing yourself from the burden of debt is rarely easy or straightforward — especially if you owe many different creditors. There are two important decisions you need to make and […]
