Saving for Something Special
Key Takeaways If you need to buy an expensive item, you’ll want to make sure you can afford it. Save for the item by using this simple method. By using tangible cash, you’re more likely to stay within budget and not overspend. Have you ever used the envelope system to help you budget? It’s an […]
Four Financial Steps for the College Graduate
Key Takeaways If you’re a new college graduate starting your first job, it’s important you have an idea of what your budget will be. Some planning now will lay the foundation for good financial habits in the future. Know what your income and expenses will be, so that there aren’t any big surprises down the […]
4 Tips to Ignore Your Smartphone
Key Takeaways Technology makes it easier and quicker than ever to buy things. Our ever-present smart devices, in particular, are a source of many impulse purchases. Here are some tips for reducing those impulse buys. Technology has advanced to the point where all we have to do is say “Alexa, reorder peanut butter,” and within […]
Pay Extra Towards Your Mortgage OR Put More Towards Your Savings
Key Takeaways Financial peace of mind holds a lot of importance for people, but can come in different forms. A common question in the financial world is whether to pay off a mortgage or build up savings. There are both subjective and objective answers to this question. If you were to ask people what their […]
Saving for Retirement Without a 401(k)
Key Takeaways About 50% of Americans don’t have access to a 401(k). There are other ways besides a 401(k) to save for retirement and still receive tax benefits. If you choose to put your money into a cash value life insurance policy, you’ll now be able to put almost double away, due to a new […]
Don’t Overwithhold Taxes From Your Paycheck – Build Your 401(k) Instead
Key Takeaways It’s common to overwithhold taxes, knowing you’ll receive a refund every year. Instead of overwithholding, consider putting that money into your 401(k) each month. By doing so, you’ll be implementing dollar-cost averaging. When you look at an optical illusion, you know that your brain will perceive different images depending on where you stand […]
Paying Down Debt VS. Building an Emergency Fund
Key Takeaways Paying down debt and building emergency savings are really two sides of the same coin. Whether you choose to focus on one or the other depends upon your mindset. What’s important is to keep making good decisions on money. Six of one, half dozen of another is a phrase that comes to mind […]
Combating Lifestyle Inflation
Key Takeaways Lifestyle inflation is something that can creep up on you, but if you stay aware, you can combat it. Divide your salary into objective and subjective parts. If you get the objective side right, you can enjoy spending the subjective side. You’ve likely heard the anecdote about frogs in hot water. If you […]
3 Ways to Increase Your 401(k)
Key Takeaways Unexpected expenses are something no one enjoys, but they’re a fact of life. Some employers are ceasing 401(k) matches, due to difficult times brought about by the pandemic. There are some things you can do to account for the loss of an employer match to your 401(k). Needing emergency dental work. Suddenly getting […]
5 Powerful Money Pivots
Key Takeaways COVID-19 has changed numerous things in our daily lives. One of the biggest changes is the way many people are spending and saving their money. If you’re looking to make the most of your money habits, consider these five powerful money pivots.