Archive of Personal Finance Articles – Arla Wallace
  • Financial Stress
    Avoid financial stress by educating yourself, budgeting, paying bills on time, reviewing your credit report, and taking advantage of tools to increase your financial literacy.... more
  • Job Security and Stress
    Strengthening your financial stability can help you increase your job stability, cope with anxiety, and reduce your stress levels.... more
  • Too Much Debt and Not Enough Money
    Too much debt can affect not only your credit and your interest rates, but can also impact your home life and your work performance.... more
  • Funding Your Child’s College Education
    Before it’s time to pay for your child’s college education, consider Section 529 tax-advantaged plans as a smart way to save.... more
  • Keeping Up with the Cost of Living
    Look for ways to keep up with higher costs of living, including asking for cost-of-living pay increases, downsizing or relocating, and budgeting daily expenses.... more
  • Inflation and Retirement
    With the current high inflation, it is important to review your retirement strategy, investments, and social security options.... more
  • Rising Gasoline Prices
    Supply and demand, environmental regulations, world conflicts, and various federal, state, and local taxes, are all contributing to the current high gasoline price situation.... more
  • Estimating Your Retirement Needs
    Retirees need to consider rising healthcare costs, relocation and living expenses, and the amount of income that will be needed when taking into account the costs of retirement.... more
  • Commingling Your Finances – A Newlywed’s Guide
    Discussing with your partner all of your financial options, such as whether or not you will commingle funds, is essential to building trust in a marriage.... more
  • What You Need to Teach Your Children about Money
    In addition to avoiding debt, increasing savings, and reducing stress, you can also teach your children to give back as well.... more
  • Selecting Home Budgeting Software and Apps
    You can find Inexpensive programs, automatic data importation, and security features when shopping for budgeting software and apps to manage your financial well-being.... more
  • Changes to Federal Student Loan Debt
    A short extension of the pause in student loan payments has been announced, as well as a new student loan forgiveness plan.... more
  • Federal Tax Law Changes for 2022
    Many tax law changes that were enacted during the pandemic to assist small businesses have expired, so make sure your business is in compliance with the revised provisions.... more
  • Tax Ramifications of Downsizing Your Home in Retirement
    Learn how capital gains taxes, gift taxes, or qualified trusts can impact your decision to downsize your home in retirement.... more
  • Medicare and Private Health Insurance When You Retire
    Make sure you understand all of the health insurance options available to you at retirement, including Medicare and private medical insurance coverage.... more
  • Long-Term Care Insurance
    It is important to explore the costs and benefits of long-term care insurance so that you and your loved ones are prepared when services become needed.... more
  • Paying Off Debt
    Educating yourself, creating a plan, and getting help are all necessary components to changing your habits and becoming debt-free in the long run.... more
  • Credit Card Scams
    The increasing proliferation of credit card scams, together with the sophistication of scammers, require constant vigilance by consumers to protect their account information.... more
  • Dealing with Inflation
    Read why this is a good time to take stock of your discretionary spending and your investment strategy, in view of the current high inflation and supply chain shortages.... more
  • Financing College
    With costs increasing every year, paying for a college education requires a careful review of all of the options available, including 529 plans, scholarships, and loans.... more
  • How to Make a Household Budget Work
    Whether you use a paper spreadsheet or a software program, take the time to input the necessary information and get started on preparing a budget for your financial well-being.... more
  • Planning for Retirement: Downsizing
    Life stages have both beginnings and endings. And retirement is no exception. Whatever your plans for retirement are, they should include downsizing.... more
  • Individual Investment Portfolios:  Weathering Market Corrections
    With market fluctuations common, learn how to build your portfolio to weather the risks, how you should diversify, and what to do when a market correction occurs.... more
  • Retirement Savings Plans: Loans and Hardship Withdrawals
    If you are experiencing financial difficulties, a loan or hardship withdrawal from your employer-sponsored retirement plan may be the solution.... more
  • Long-term Care Insurance: Pros and Cons
    If you are researching long-term care insurance, make sure you consider the pros and cons, including benefits, costs, and your personal resources and medical history.... more
  • End of Year Tax Planning
    With 2021 ended, now is the time to review changes in the tax laws, such as charitable deductions and retirement contributions, so as to be ready for the April 15 filing deadline.... more
  • Retirement Savings: Changes to Required Minimum Distribution Rules
    Recent legislation has made important changes to the timing, amount, and age at which required minimum distributions must be made from retirement accounts.... more
  • Is Now the Right Time to Refinance Your Mortgage?
    Another strategy available to consumers to lower personal debt was through refinancing a mortgage, where rates were at historically low levels.... more

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