Check back here often to get information on money management topics and other financial tips!
Thanks to summer vacations, weddings and outdoor barbecues, it's easy to take on unexpected debt from June through August. In fact, a May survey by Capital One found that 87 percent of Americans say they spend more money on socializing during the summer months than any other time.
During our first meeting, a 55-year-old couple asked, “How do you think we’re doing for people our age? Are we saving enough?” This is a good question, one I’m often asked. People want to know how they measure up. They hope to hear that they are doing better than most. In their minds, this means things are moving in the right direction. But “keeping up with the Joneses” has never been a bankable strategy. So we have to dig deeper to determine what the question is really about.
In military life, regular relocations are as common as standardized clothing and acronyms. Every household move (or PCS—permanent change of station) carries its share of uncertainty and stress, but you can make your change a more positive experience with these military moving tips.
It’s been exactly one year since the credit reporting agency Equifax discovered that its vast trove of consumers’ sensitive personal data had been breached, exposing more than 145 million Americans to potential identity theft. The breach, one of the biggest in U.S. history, included the theft of millions of Social Security, driver’s license, and credit card numbers, along with tax-ID information and more. The sheer size and scope of it sparked calls for new consumer protections—not to mention a pending class-action lawsuit. But while consumers have gained some new rights in the last year—including free credit freezes, which go into effect Sept. 21—consumer advocates say much still needs to be done.
Is a new car in your future? You might first have some unfinished business with your old one. While you’re cleaning out your personal items, think about the personal information stored in the car’s electronic system. Your car is a computer that stores a lot of information about you — just like your smartphone or home computer. When you sell or donate your car, that personal data might be accessible to the next owner if you don’t take steps to remove it.
Americans aren’t sleeping all that well these days. Sixty-nine percent of people report occasionally losing shut-eye because they’re worried about something, according to a Bankrate survey. And 36% of those folks point to money as one of their primary concerns. It’s not hard to understand why this is happening. According to a recent survey by Varo Money, 85% of American adults sometimes feel stressed about money—and 30% are stressed about it constantly. About 1 in 5 people are living paycheck to paycheck, and more than two-thirds reported having to tap savings to make ends meet until their next payday at least once in the last two years.
You've been dreaming of owning a home for years, and now you're finally ready to make the leap. You've found the perfect place and may have even started deciding where to put the furniture, but you still have one big obstacle standing in your way: getting a mortgage. If you've never bought a home before, the whole process can seem a little confusing. One of the first things you have to figure out is whether you should get a fixed-rate or adjustable-rate mortgage. Most people choose the fixed-rate mortgage without even thinking about it, but there are situations where an adjustable-rate mortgage may be a better fit.
Do you hate the idea of brown-bagging it as everyone else in the office goes out for lunch? Do you dread parking your old-school Camry in a lot full of BMWs? Do you hope no one sees you with your coupons in the grocery store? If keeping up appearances is important to you, there are plenty of ways to do it without resorting to falling into debt. Here are 10 ways to look like you're living large without overspending.
In many families, money was once a taboo subject. Kids would grow up with a vague idea that their parents made enough to support the household, but it wasn’t until they got their own jobs that they began to understand how finances work. Fortunately, these days, kids learn about money much earlier, thanks to their own savings accounts, open conversations about budgets around the family dinner table, and college savings funds that might be opened before they take their first steps.
Most of us are well aware of the importance of creating budgets and plans for our personal finances. However, sometimes we forget that we also need to teach our children about planning and budgeting. This article will look at creating a saving and spending plan for your child to help steer them toward financial wisdom.
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