Even the most diligent budgeters can get off track, especially when faced with these notorious budget busters. The best way to stay on target is to be aware of where your spending may go wrong and do your best to avoid it. 1. Impulse purchases Did you grab that extra item at check out? Did you go to the grocery store hungry? Or maybe all those online ads and emails promising limited-time savings got you to run your card? The impulse purchase comes in many shapes and forms, but making a shopping list ahead of time can be your trusty road map to your budget goal. Online, consider putting that item in your cart and heading back a day or… Read the full article.
If you’ve read any recent news about the financial details of college education, you’ll know that it’s also a foreboding prospect: there is nearly $1.3 trillion in total U.S. student loan debt, ongoing wage stagnation, and the prospect of enduring years of underemployment. But it’s not all bad news. A notable paradigm shift is taking place: this year, a whopping 98% of current students are actively engaging in ways to make their education more affordable. So how does a student and their family better prepare themselves? Here’s our list of the top five ways families can make college more affordable: 1. Save early and save often. Recent research has shown a link between savings and college success: kids from low-… Read the full article.
It’s up to you to decide when to begin teaching your children about money, but it’s also important to be prepared, should they start asking questions. After all, if you don’t teach your young children about finances, who will? These tips will help prepare you to teach smart financial habits. You don’t need to be an expert Setting basic guidelines about allowances or helping them save using a piggybank can be important steps toward your child’s financial future. Consider an allowance – and Split It An allowance is the best way to teach saving and budgeting for themselves. Around the age of 10, incentives help for completing simple tasks like emptying garbage or putting away the utensils from the dishwasher…. Read the full article.
It’s that time of the year again – back-to-school season! With it comes a shopping list. No question you’ll spend good money to get your kids ready for their big first day – but you don’t have to spend a fortune. Here are five tips to keep the budget in check. Set a game plan Get organized before you head out the door. Check out the supplies list from the school, develop your own list, and set a budget. Open up the closet and take stock of what clothes your kids will need. Knowing exactly what you need and exactly how much you want to spend will prevent extra expenditures and impulse buys. Shop at home No, we aren’t talking… Read the full article.
Are you making the right financial decisions? Do you know where to invest? Do you know how fast to pay off credit card debt or student loans? Are you saving for retirement? Will you ever qualify for a mortgage? It’s perfectly okay to not have all the answers to your personal finance questions. Between credit card debt, student loans, and saving for retirement, it’s easy to think homeownership will never happen. In reality, the journey to homeownership starts with a little knowledge and equal parts smart money decisions and frugal living. You can have your home, and live in it too! We’re here to help you make smart money decisions on your way to becoming a homeowner. That’s why were… Read the full article.