How Much Should You Have in Savings Article Image

How Much Should You Have in Savings

Americans are generally great at spending money and really terrible about setting money aside for emergencies or retirement. Unfortunately, about 40% of Americans are one paycheck away from disaster. That means that a simple job loss, injury, or even car breakdown will leave a lot of Americans hurting and facing bankruptcy. Most Americans can’t pay off an unexpected bill of more than $1,000. And 36% of Americans have faced an unexpected bill of $5,000 or more in the last year.  Only 16% of Americans have saved more than $200,000 toward retirement while 22% have less than $5,000 put towards retirement. […]

What's the fastest way to save money

What’s the fastest way to save money?

The fastest way to save money is to stop spending it. That is a lot easier said than done. But it’s not impossible. Let’s look at some ideas below to save money and squirrel it away for a greater need. Using some of these tips below can help you save money faster. Start Using a Budget One of the best ways to save money is from a budget. Track your expenses and create a budget for yourself. You need to know where your money is going and where you can stop or decrease spending it. You’ll find more details on […]

Is it better to pay off debt or save money

Is It Better to Pay Off Debt or Save Money?

Maybe you just ran into a bit of money and you are wondering what to do with it. Should you pay off an existing debt at 25% interest? Should you put it in a savings account for 1% interest? Should you buy something you want? It can be a real tough decision. Let’s look at these options in more detail below so we can figure out the best place to put that money. Pay Off Debt If you focus on paying down your debt first, you are decreasing how much you pay in interest and potential penalties like late fees. […]

What Is The 50 30 20 Budget Rule

What Is The 50 30 20 Budget Rule?

You might of heard about the 50/30/20 budgeting rule. It’s one of many budget suggestions and may work to help you get your spending under control. The basic concept is that you divide your monthly needs, wants and savings or debt up and try to limit each to a specific percentage. It may sound complicated, but it is really very simple. You would allocate 50% of your monthly income towards your needs, 30% to your wants, and 20% to your savings or debts. Let’s take a look at each category before we get into more budgeting tips. Speak to one […]

How to Manage Debt during the Holiday Season

How to Manage Debt during the Holiday Season

Entering the holiday season with a mountain of debt is a terrible experience. It’s made even worse with the added weight of an abysmal debt-to-equity ratio. For parents, the weight of responsibility to provide for your children is multiplied during the holidays — one of the few times other than birthdays when the kids expect to receive gifts. For children, the excitement of past holidays and the expectations of opening presents on Christmas day can create a crushing experience if they feel disappointment. So, what does this mean for parents? Are you expected to get deeper in debt just to […]

Financially Stable Couples How to Manage Marriage and Finances

Financially Stable Couples: How to Manage Marriage and Finances

Few things are as painful or frightening to a child as parents fighting. And few things are more destructive to marriages as financial troubles. According to Ramsey Solutions, the only thing that causes divorce more than money is infidelity. So, how do you resolve the issue between marriage and finance? The obvious answer is to establish financial goals and live frugally. But, sometimes, the obvious answer isn’t the cure-all. No doubt financial wellness will ease the strain on marriages, but financial wellness doesn’t guarantee happy marriages. And sometimes, the strain on your marriage goes deeper than money itself. Luckily, there […]

How to spot financial scammers

How to Spot Financial Scammers

Perhaps the more difficult part about making money, is actually keeping it. We have expenses, debts, and everyday necessities that need to be fulfilled before putting our money safely into our bank accounts. Sadly, we’re also losing money to sheer gullibility. Anthony R. Pratkanis points out that “every year, Americans lose over $40 billion in telemarketing, investment, and charity fraud.” Why do we fall so easily to financial fraud? Why are we so gullible? Debt is a burden that most of America is trying to overcome. It is also a burden we would do anything to shake — this means […]

Get Budget Help With Budget Apps

What Are The Best Budgeting Apps of 2018?

The Best Budgeting Apps of 2018 Most people believe in the power of budgeting; some people think it’s just an excuse to avoid the real solution. Richard Quinn, a retired VP of Compensation and Benefits with over 50 years of experience in managing pension and 401k plans for a fortune 200 company, offers some profound advice about budgeting. One particular thing he mentioned about budgeting apps will strike a chord with most budgeting experts. According to Quinn, “Nobody needs an app. They don’t even need a budget. They need to do a few simple things: Take their net pay and […]

Top 5 causes of debt

Top 5 Causes of Debt & How To Fix Them

They say it’s smart to have between 3-6 months worth of expenses saved up in case of an emergency. To give you an idea, if your monthly expenses round up to $5,000, there should be $30,000 sitting your saving account right now. But in this age of consumerism, people are likely swimming in debt instead of in a comfortable amount of hundred dollar bills. As of May 2016, 38.1% of all households carry some sort of credit card debt and according to the most recent survey from the U.S. Federal Reserve, the average credit card debt of U.S. households is about […]

Get Budget Help With Budget Apps

Debt Crisis Relief:  Changing Bad Spending Habits

Getting into debt is one of the easiest downward spirals any person can get caught up in. Everything in the western world is geared toward getting people to spend money and promotes consumerism. Furthermore, the ease of acquiring credit cards steers individuals toward spending money they do not have. The deck is stacked against consumers who cannot withstand the onslaught of credit cards, financing offers, and sales on expensive merchandise. Simply put, it is amazingly easy to get into an enormous amount of debt. On another token, one of the hardest things to do in today’s world is to get out of debt. […]

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