If you’re in debt, it can feel overwhelming. You may feel like you’ll always be indebted and that things will never get better. However, plenty of people have been where you are and have successfully gotten out of debt, and you can too. First, though, you have to stop digging the debt hole and stop […]
expenses
Can You Negotiate a Rent Increase?
You were anticipating a rent increase, but you’re shocked by the rent increase notice, perhaps even angry. You’ve always paid your rent on time, and you’re a good tenant. A rent increase this large seems unfair. Your first thought? It’s time to move. Then you remember how much you love the neighborhood. Is the location […]
What Type of Budget Method is Best for Me?
It doesn’t matter how you do it, in a notebook, on a computer, online, or in an app, as long as you’re doing it! Budgeting is an important part of adult life. If you’re wondering why you need a budget or spending plan, according to Experian, Americans ended 2019 with consumer credit card debt at […]
Financial Impacts of Distance Learning
The coronavirus pandemic has wreaked havoc on the financial situation of this country and its people. The effect is felt most by the economic impacts of shutdowns and other various restrictive measures. But another casualty of the pandemic quietly added another financial blow for many Americans. Distance learning. As cases continued to climb around the […]
What Is Your Retirement Number?
Retirement can be a daunting concept, especially if you have thoughts like “Will I ever be able to retire?” or “ I have no idea how much I need in retirement” floating around in your head. Truth is, these are common concerns for many people who are considering their future retirements. Even if retirement is […]
Sunk Costs: What they are and when to ignore
If you’ve ever watched an entire movie you didn’t enjoy or ate food you didn’t like – just because you paid for them, you’ve experienced the sunk cost fallacy. In these examples, the money you spent on the movie and food is a sunk cost. The reasoning behind your decisions to watch the movie and […]
Make Your Budget Work [Tips for overcoming obstacles]
You’re ready to take control of your finances and use a budget to plan for your income and expenses. But that “b” word doesn’t exactly give you the warm fuzzies. You know though, telling your money where to go is better than wondering where it went. While budgeting methods such as the 50/30/20 percentage system, […]
What Should an Emergency Budget Include? [Adjusting finances in a time of crisis]
What’s your plan if you lose your job? What will you do if your work hours get reduced? What happens if you lose your child care? These aren’t easy (or fun) questions to answer. Yet everyone should think about what they would do in a financial emergency. Whatever the situation, you would need to take […]
How Will My Expenses Change in a High Cost of Living Area?
If you’re moving to a higher cost-of-living (HCOL) area from a lower cost-of-living area (LCOL), you’re probably anticipating higher prices for housing and food. Have you also thought about other expenses likely to increase, like childcare, transportation, and utilities? Moving to a more expensive city or state can drastically increase your expenses so you need […]
The Pink Tax: What does it cost and how do I fight it?
It costs a lot of money to be a woman today. The wage gap is still pervasive, and the United States is also the only industrialized nation to not offer paid maternity leave. These financial issues are being discussed and debated more commonly, but there’s a price to being female that many people overlook. It’s […]
In What Ways Can I Cut Monthly Expenses and Reduce Spending?
You’re ready to tackle your debt. You need to save more. You want extra money to invest. Or you need to create an emergency budget. Whatever your money goal, you want to find the best ways to cut expenses so you can reduce spending today. Deciding on the optimal place to start can be a […]
What Is a Cash Out Refinance Mortgage and Why Do One?
While some people think renting is the best decision, others of us dream of owning our own home. Most of us home buyers have a goal of paying off our mortgages before retiring (or earlier if possible). So, when interest rates drop, it’s smart to consider refinancing your mortgage to reduce payments or the term […]
Needs vs. Wants: What is the difference? [& how do you afford both?]
One of the most common pieces of financial advice is to focus on needs instead of wants. Knowing how to prioritize your needs over your wants truly is an effective starting point. But to take that first step, you need to understand the difference between them. Let’s review how to evaluate your needs versus wants […]
How Does the Debt Collection Process Work?
At some point in your life, you may fall on hard financial times and be unable to pay your bills. Despite your struggles, your creditors still want to get paid. They’ll likely employ a series of tactics called debt collection to get their money from you. This process may involve constant (potentially harassing) communication from […]
Health Savings Accounts: Pros, Cons and Contribution Limits of HSAs In 2021
During health plan or open enrollment time, your place of employment probably looks like many others. There are lots of “water cooler” conversations about different plans, past experiences, deductibles, and copays. Health savings accounts or HSAs are drawing your attention, and you want to learn more. Let’s say last year you spent $8,000 on the […]
Costco Optical Center Review: Can you trust your vision to Costco?
You might know Costco as a membership warehouse club, providing brand-name, quality merchandise at favorable prices. But do you know about all the specialty departments and exclusive member services, they provide at hundreds of locations worldwide. In this article, we’ll be describing and reviewing Costco’s Optical Department. Seeing Better with Costco? While you do not […]
How Do I Get Rid of Private Mortgage Insurance (PMI)?
If you pay for private mortgage insurance (PMI) you’re not alone. The average down payment on a home purchase is only 6% requiring most homeowners to pay for PMI each month. If you had less than a 20 percent down payment when you bought your house, your lender probably required you to have private mortgage […]
What Does it Mean to Self-Insure and Can It Save Me Money?
When you’re working on getting your financial house in order, it can be overwhelming to consider all the different insurance products you can (and sometimes are required to) purchase. To protect your financial future there’s insurance for your: Health Life Disability Vehicle Home Cell phone Pet Long-term care You can also buy flood insurance, extra […]
Best Ways to Financially Prepare for a Baby
Your family is growing! Whether this is your first time becoming a mom or not, preparing to have a baby brings a whirlwind of feelings, emotions, and worries. One of the biggest concerns moms-to-be face is a financial one. You may have seen estimates that it costs $233,000 to raise a child from birth to […]
Starter House or Forever Home? Considerations when buying your first place
Buying a home is exciting. It’s also one of the most significant financial decisions you’ll ever make. So you want to get it right – and you want to get it right the first time. If you’re purchasing your first home, you may wonder if you should buy a “starter” home or a “forever” home. […]
Am I Frugal or Cheap? [How to tell and why it matters]
Whether you just embraced the concept or you’ve had a focus on becoming financially independent for years, you’re building good money habits and saving for the future. In order to save more, you may be tracking expenses, using a budget, working side hustles or adopting a minimalist lifestyle. You might even do all of those […]
What are Sinking Funds and are They Smart to Have?
It can be overwhelming to learn how to manage your money and build a financially secure future. Paying down debt, budgeting, tracking expenses, saving an emergency fund, and opening investment accounts take patience and focus. You’ve made good progress some months, but sticking to a budget and saving money has been hard. Bills and expenses […]
Sharing Living and Relationship Expenses: How do we make it fair?
You’ve decided it’s time to move in together. It’s a big step in your relationship, and you’re excited about the future. You’ll have to each decide which of your belongings you can share in your new place. Another thing you’ll have to figure out? How to share expenses when living together. The best way to […]
Is the Savings from Living with Roommates Worth It?
You remember talking as a teenager about how great it would be to move out of your parents’ house. Getting an apartment with friends or heading off to a college dorm – any place where you’d have some freedom and ability to make your own decisions. Leaving the “nest” usually means moving in with others […]
Healthcare Costs in Retirement – Avoid These Big Mistakes
Many of us don’t think about retirement or saving for it until it’s too late. When we do save, we plan for money to cover rent, utilities, groceries, and insurance. However, many people overlook saving for healthcare costs in retirement. This is by far one of the biggest mistakes you can make during your time […]
