Holiday Credit Card Hacks That Will Save You Money

Holiday Credit Card Hacks That Will Save You Money

The holiday season – Christmas, Hanukkah, Kwanzaa and a myriad of other celebrations are just around the corner. Gift giving is a large part of these holidays and it is very easy to go into debt making certain that everybody on your list has the perfect present. Marketing teams have made huge efforts to equate love with money and gifts. In these uncertain times, spending money at a rapid pace and building up debt to “prove” you love someone might be a bad idea and can lead to more financial heartache and stress. Careful use of credit cards can help […]

How to Create The Perfect Grocery Budget

How to Create The Perfect Grocery Budget

Like most of us, your budget has taken a hit during the Covid-19 pandemic. Income has gone down all around the world and food prices have taken a jump. Grocery store shelves may remind you of photos from the old Soviet Union. In reality, the recent price spikes are part of a continuing trend of increasing food prices. Since 2000, food prices have risen an average of 2.6% a year, with prices increasing the most for meat, poultry, fish, and eggs. Why Are Food Prices Increasing? Increasing Oil Prices – most of our food is shipped long distances and that […]

The Ins and Outs of Forbearance

The Ins and Outs of Forbearance

Forbearance is an agreement between the lender and the borrower to delay foreclosures, temporarily pause or skip payments, or pay less or no interest on a loan. There has been an effort on the part of creditors and through the CARES Act to offer forbearance to people affected by the pandemic. However, there are other reasons that you may want to ask for forbearance. Those include government shutdowns, natural disasters, or after emergencies. Loan deferral is similar to forbearance but in terms of a mortgage, interest does not accrue. It is generally harder to get deferral than forbearance. Forgiveness means […]

How to Build Your Retirement Funds During Covid

How to Build Your Retirement Funds During Covid

In recent blogs, we’ve discussed how important it is to have a retirement fund. However, in this time of uncertainty, thanks to COVID can you justify putting money away for a distant future when the present is filled with anxiety?  With some careful planning, you may be able to reboot your spending enough to set aside at least some money towards a future that will come true. Revamp Your Budget or Set One Up We are going to assume you have a budget already. If you don’t, your first step is to count every penny you spend for at least […]

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 […]

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