When it comes to bank accounts, is too much of a good thing too much? Should you have more than one or two bank accounts? And should they be at different banks? The more bank accounts you have, the more time it takes to track and manage them. But there are advantages to having multiple […]
saving
The Single Ladies Guide to Handling Finances
Many households nowadays are dual income, with both partners working and bringing in money to run the home. Even in single-income households, having a partner can help with budgeting, paying off debts, and planning for the future. When single, you can only depend on yourself to make decisions and plan for the future. Handling finances […]
How Much Should We Save for Our Kid’s Education?
As a parent, we always want to do what’s best for our children. Paying for a college education is a difficult choice to make for several reasons. But, no one wants their kids to be weighed down with tens of thousands of dollars of student loan debt either. Sure, you can wait until your kid […]
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 […]
Make Managing Your Money More Fun
What if saving money and investing for the future could be fun? Or at least, not so daunting or stressful? Managing money can be more motivating – even enjoyable – when you gamify it. At the very least, gamifying gets you started on the right path. And starting is half the battle. Gamifying your money […]
Best Ways to Save on Back-to-School Shopping
The COVID-19 pandemic is affecting our lives in numerous ways. The uncertainty and change in routine are also impacting back-to-school shopping – one of the biggest retail seasons of the year. As some parents plan for a fairly typical start to the school year, many students are starting school fully online or with hybrid in-school […]
What is the 52 Week Savings Challenge? [+ ways to spice it up!]
Have you heard of the 52-week savings challenge? The concept is simple. In the first week, you save $1. In the second week, you save $2. You then continue saving one extra dollar every week until you save $52 in the 52nd week. At the end of this savings challenge, you’ll have saved $1,378 in […]
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 […]
CIT Savings Builder: Is it a good high-interest option?
It’s been more than a year since I opened high-yield savings account online with Ally. After earning .01% APY on savings in my hometown bank and .10% APY from my credit union for decades, I’m finally making more money on my savings. If you haven’t taken time to compare your bank’s interest rates (and fees!) […]
Federal Funds Rate: What is it and how does it affect you?
You might have heard of the Federal Reserve and the terms federal funds rate, and discount rate. But what do they mean? And more importantly, how do they affect you? The short answers are: The Federal Reserve is the central bank system providing financial services to banks and government entities. It does not provide services […]
What Is Tax-Loss Harvesting? [How it can save you money]
There are many facets to investing. One thing all investors will not want to overlook is the tax consequences that come with being a successful investor. Because all net profits made from investments sold in taxable brokerage accounts come with tax liability, your investment strategy should consider the consequences. To reduce tax liability, a strategy […]
Important Financial Rules of Thumb: What to know [and ignore]?
From a financial perspective, living today and planning for the future are difficult tasks. It takes work to figure out how to allocate our earnings both for our current needs and for investing in our futures, including retirement. Luckily, we can learn a lot from all those who’ve already done it. If we follow some […]
How Does Groupon Work? [will it save me money?]
Whether you’re trying to stick to a budget, top off a sinking fund, or put money toward another savings goal, you always look for deals and new ways to save money. You’ve heard of Groupon but you’re not sure how it works. You also wonder if it will really save you money or if the […]
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 […]
Saving for Retirement While Helping Kids & Parents
If you’ve asked yourself how you’ll save for retirement while also financially helping your kids and parents, you’re not alone. A few years ago, the Pew Research Center reported that almost half of all adults in their 40’s or 50’s were either raising a child or supporting a grown child, while also helping a parent […]
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 […]
ALDI Review: Is This Discount Grocery Store Worth Your Time?
Shopping at ALDI discount grocery stores can definitely save you money. And their products get solid reviews. Is saving money by shopping at Aldi really worth your time? Read our review and then decide. The Women Who Money Team loves to save money shopping! We use cashback sites like BeFrugal, along with a variety of […]
Is Working With a Travel Agent Worth the Time and Money?
Whether you have a real passion for travel or you only pack your bags on occasion, there’s work involved in planning a trip. With Google at your fingertips, it’s easier than ever to make your own travel plans. But is “DIY” travel planning always the smartest (and most frugal) move? It makes good sense to […]
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 […]
Financial Mission Statement: Why do I need one and how do I create it?
Staying focused on your financial goals can be difficult. You know what they are. And you know you’ll be better off if you stick to them. But you also have a lot going on in your life. You may be paying down debt, saving for college, helping out your aging parents financially, or catching up […]
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 […]
Money Market Account: Best place for your savings?
You prioritized your financial savings goals, opened a high-interest savings account, and even automated deposits to build an emergency fund. But now you’re hearing you may earn more money on your money by putting it into a money market account. What the heck is a money market account? Is it a savings account or an […]
Why Women Need to Invest and Not Just Save
You hear about people not saving enough for retirement on the news. Oodles of articles report on women living longer than men and the struggle many women have with money in their later years. Family members, friends, and online communities mention the importance of women investing and they encourage you to get started. You know […]
Is Joining a Warehouse Club Worth the Money?
Whether you want to stop living paycheck to paycheck, build up reserves in your emergency fund, or max out your 401k contributions, you need to save money to focus on your financial goals. With the average price of food rising about 2% over the last year and understanding that grocery and household purchases are a […]
Amazon Prime Membership: Get every cent worth out of it
If you’ve ever bought anything online, chances are you’ve purchased something, at one time or another, from Amazon. Once limited to books and media back in 1994 when the now-famous Jeff Bezos founded it, Amazon currently sells, well, just about anything. So if you find yourself shopping regularly at Amazon, it can feel like a […]
