Staying on top of your personal finances is easier said than done. Expand your financial education by learning more about budgeting, debt management, personal financial planning, college funding, career changes, inflation, tax deductions, divorce finances and much more.
Common financial mistakes include not paying off credit card debt, falling behind in saving for retirement, and living beyond your means, but it is possible to recover by developing a plan and taking control of your finances.
College students should budget for college's small expenses like books, transportation, and entertainment, and explore working part-time as well as pursuing grants, scholarships, and reasonable student loans to help cover college costs.
Improve your financial situation by creating a budget, building an emergency fund, paying down debt, using coupons, planning meals ahead, decluttering, and seeking help. By devising a plan and sticking to it, you can pave the way towards saving more and improving your financial well-being.
You should have enough money in savings to cover 3-6 months of basic expenses in an emergency fund, plus additional savings allocated to medium-term goals and long-term retirement needs based on your individual circumstances.
To plan for a recession, consider diversifying your investments, utilizing the bucket system for liquidity, monitoring debt for refinancing opportunities, maintaining a sufficient emergency fund, and adjusting retirement planning to ensure financial stability during economic downturns.
A financial representative is a licensed professional who offers guidance on insurance and financial products, helping individuals and businesses analyze their needs and make informed decisions for their financial goals and protection.
Have you thought about your personal finances lately? Our financial planning checklist can help get you started on what to think about and specific steps you could take to help get your finances under control.
Unlock tax-free withdrawals by spending from your 529 plan on qualified expenses such as tuition, school fees, textbooks, equipment, and even room & board. This covers not just college, but also qualified elementary, secondary, and vocational schools.
Some financial gifts to consider giving are 529 college savings contributions, shares of stock, custodial accounts, savings bonds, prepaid debit cards, and personal finance books can help teach money skills.
The ten ways to save money on a tight budget are planning meals and using coupons for groceries, decluttering and selling unused items, canceling unnecessary subscriptions, and paying down high-interest debt more aggressively.
Common financial issues in college can be avoided through proper financial aid utilization, budgeting, distinguishing between wants and needs, responsible credit card use, and future financial planning.
Yes, supporting adult children can hurt your retirement. It is recommended to prioritize your own retirement savings over supporting adult kids and setting limits on support through methods like monthly allowances or estate planning instead of open-ended assistance.
Helping to protect parents from elder financial abuse and fraud is important. To do so, you should have conversations about their finances, look for red flags, consider joint accounts, build relationships with financial representatives, and set up power of attorney to help protect them.
When budgeting for a second child, re-evaluate spending to find areas for cost-cutting, leverage family support for childcare savings where possible, consider insurance bundling for discounts, and start saving early via gifting to children's savings accounts or 529 college plans to set your growing family up for long-term financial stability.
Managing family finances jointly with open communication, financial education, and dividing tasks can empower all members, reduce stress, prepare for the unexpected, and achieve shared financial goals.
To set your marriage up for financial success, have open conversations about debt, account merging, responsibilities and contributions, lifestyle spending habits, and practical protections like insurance before saying "I do."
Budgeting for a baby involves estimating costs of medical care, parental leave, increased living expenses, childcare, and life insurance, with total costs possibly reaching over $370,000 from birth through age 17.
You can build a strong financial foundation by responsibly managing student loans, building credit, setting SMART goals, budgeting properly, and continuously seeking knowledge to make informed money decisions. Doing these things now will set you up for financial success in the future.
The important financial questions to ask aging parents or grandparents are as follows: are they paying bills on time, are their assets protected, is their insurance information organized, what health coverage do they have, do they need further help with caregiving, and where do you stand in terms of your own future financial plans.