Home ownership is a goal for many growing professionals. As a person’s total income increases, naturally, they can start to think about building equity in a potential place of residence. However, for many renting remains a more viable and financially wise option. As such, it is crucial that consumers understand the costs and benefits of owning… Read More
ONE THIRD OF AMERICANS HAVE NO FINANCIAL PLAN, STUDY SAYS (AS REPORTED BY ANNA ROBATON OF NBCNEWS.COM)
Financial planning is an important part of preparing for one’s future both in the professional and personal realms. For many Americans, the term has become an afterthought, which can put them at an unnecessary risk for monetary hardships. According to a study conducted by Northwestern Mutual, more than one third of Americans have stated that… Read More
Proof That Most of Us Don’t Understand Overdraft Fees (as reported by James Cave of huffington.post.com)
Nine out of ten Americans have a checking account, but many aren’t up to speed on what happens if they overdraw their account. An overdraft occurs when you spend or withdraw more money than you have in your account. You’ll be able to complete the transaction if you’ve agreed to your bank’s overdraft protection policy,… Read More
8 Savings Mistakes to Avoid (as reported by Mixey Rox of wisebread.com)
The truth is that everyone makes mistakes, but it’s important to check yourself before you wreck yourself when it comes to your cash. Even avid savers can make mistakes when it comes to funneling money away for a rainy day or a future investment. Because if it’s sitting in a modest growth plan, it’s not… Read More
Paying for College: 7 Tips to Reducing Costs and Getting More Financial Aid (as reported by Carly Stockwell of usatoday.com)
The average student loan debt in 2014 was nearly $30,000. A college education is just plain expensive and loans are more the rule than the exception. Still, most experts recommend that your total loan debt should not exceed the amount of money you expect to earn in your first year after graduation. If you only… Read More
How Sacrificing for a Year Can Help You Stay Ahead Forever (as reported by Jack Ryder of simplethriftyliving.com)
Have you ever thought about how those little expenses you indulge in add up over time? Most people don’t, and this is why they don’t maintain an adequate financial cushion in their savings accounts. Living from paycheck to paycheck is the norm, but a crisis can create a huge setback if you’re ill-prepared. Learn how… Read More
5 Ways to Earn Extra Money This Summer (as reported by Jack Ryder of simplethriftyliving.com)
If you’re like most people, you may be looking for some ways to earn a little bit of extra cash this summer. Maybe you’d like to pay for a luxury vacation or make a large purchase. Whatever your reason for wanting to bank some extra money, there are lots of ways you can bring in… Read More
Behind on retirement savings? Here are 3 ways to catch up (as reported by Walter Updegrave of money.cnn.com)
Generally, you should have six to nine times your salary tucked away in a 401(k) or other accounts by your mid-50’s to early 60’s to have a good shot at maintaining your standard of living in retirement. So you’re definitely short of where you ought to be. On the bright side, at least you know… Read More
4 Smarter Ways To Spend Your Tax Refund (as reported by Molly Triffin on forbes.com)
Picture this: You wake up one morning, and head outside to get the newspaper. Sitting there on the stoop is a bag with your name on it. You open it and find a wad of cash—totaling $3,120! Your mind starts to race as you think about how you’ll spend this money that’s fallen into your… Read More
3 Things Millennials Need to Know When Choosing a Credit Card (as reported by Taylor Tepper of time.com/money)
Today’s young professionals have a complicated relationship with credit. A report last year found that more than three in five millennials did not own a credit card, while another survey, by Creditcards.com, found that 36% of 18-to-29 year olds have never had one. Millennials, of course, had the distinct misfortune of entering the job market… Read More