Limit debt to necessary transactions, such as a student loan for higher education or a home mortgage, so you can build good credit and a strong financial future.... more
Teaching your children about money management at home, including the ins and outs of bank accounts, and debit and credit cards, will help them learn financial responsibility.... more
It is never too late to correct past mistakes to ensure financial security as you age, so reduce debt, put away funds for an emergency, and strive to increase retirement savings.... more
Preparing for a recession involves careful review of current spending and savings habits as well as financial planning to help you survive future uncertainties.... more
Planning for retirement involves establishing a plan that is right for you, and taking into consideration the time you will have to invest and to spend.... more
When you need to get money in a hurry, you should consider credit cards, personal lines of credit, and loans from your bank, your retirement plan, or from family or friends.... more
Purchasing a home is a major decision, and requires research into how much down payment you can afford, whether you must pay PMI, and finding the right mortgage loan.... more
To successfully run your own business while simultaneously taking care of family, you need to set boundaries, such as limiting your workday and creating a dedicated work space.... more
In addition to attending to personal finances and protecting assets, entrepreneurs need to take care of their families, become life-long learners, and practice true philanthropy.... more
When planning for retirement, it is important to not only establish a financial plan but also to plan how you can be fulfilled and enjoy your retirement years.... more
Separate bank accounts, tax identification numbers, and credit cards are some of the ways you can distinguish your personal and business expenses, making it easier at tax time.... more
In addition to saving for retirement or life goals like a home purchase, it is important to save for emergencies and avoid getting into additional debt.... more
Whether you are considering bootstrapping, crowdfunding, or a traditional bank or SBA loan, make sure you explore all of the options for funding your small business.... more
Understanding your net worth, setting goals, and protecting your assets are all important components of financial planning and taking charge of your personal financial situation.... more
Building and keeping good credit requires patience, in addition to developing good financial habits, timely payment of bills, and awareness of your credit utilization ratio.... more
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
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
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
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
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
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
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
Make sure you understand all of the health insurance options available to you at retirement, including Medicare and private medical insurance coverage.... more
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
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
The increasing proliferation of credit card scams, together with the sophistication of scammers, require constant vigilance by consumers to protect their account information.... more
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
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
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
Life stages have both beginnings and endings. And retirement is no exception. Whatever your plans for retirement are, they should include downsizing.... more
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
If you are experiencing financial difficulties, a loan or hardship withdrawal from your employer-sponsored retirement plan may be the solution.... more
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
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
Recent legislation has made important changes to the timing, amount, and age at which required minimum distributions must be made from retirement accounts.... more
Another strategy available to consumers to lower personal debt was through refinancing a mortgage, where rates were at historically low levels.... more
