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The winter holidays are right around the corner, which means it’s time to shop for gifts to give our loved ones. For some, however, holiday gift shopping can lead to a mountain of debt before the new year begins. “Charge now, pay later” is a common approach for many consumers who use their credit cards […]
How to Save Money Now for Holiday Gifts Read More »
Passive income is different from active income in that you can generate it without active, daily participation. It could be money you make by owning an apartment and collecting rent from your tenants. It could also be earnings or dividends from your investments in the stock market. Or it could even include royalties you make
How to Make Passive Income: 29 Passive Income Ideas For 2023 Read More »
Learning how to make a budget can be an important foundation for working toward your financial goals. There are many strategies that can make it easier to build a budget and manage your money, and envelope budgeting is a popular one. With this simple approach, you group your monthly expenses into categories, or envelopes, and
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A budget can be an indispensable tool in managing your finances. There are many different budgeting methods, and if you’re craving a strong sense of control, the zero-based budgeting strategy may be right up your alley. With this approach, you assign every dollar of your income to a specific budget category, making sure you end
What Is Zero-based Budgeting? Read More »
When it comes to building the financial life you want, setting goals will only get you so far. Following through with your daily choices is just as important, and it can be an uphill battle. But creating a budget that tailors your spending toward your savings goals can bring those goals within reach. A reverse
What Is a Reverse Budget? Read More »
Dealing with debt can be overwhelming, especially if you carry multiple balances on credit cards and loans. The debt snowball strategy, a powerful debt-repayment method, offers a clear path toward financial freedom. What is the debt snowball method? With the debt snowball method, you start by paying off your smallest debt and gradually work your
What Is the Debt Snowball Method? Read More »
Have you ever wondered how to make the most of your hard-earned cash? Have you ever felt overwhelmed by financial terms or uncertain about where to invest your money? Picture this: a life where you control your finances, making informed decisions that pave the way to your dreams. Imagine feeling confident as you navigate the
The 5 Principles of Financial Literacy Read More »
Side hustles have become a popular strategy for those working toward a savings goal, paying down debt, building an emergency fund, or just padding the budget. In fact, half of millennials and more than half of Gen Zers have a side hustle in 2023, according to a recent survey. Like any sort of job, side
29 Side Hustles To Consider in 2023 Read More »
Wondering where all your money goes? Learning to manage your money can help you control spending, better handle unexpected expenses and save for retirement. Get a grip on your finances by embracing a few simple money habits. Here are nine steps to manage your money and achieve your financial goals. 1. Create a Budget To
9 Money Management Tips to Improve Your Finances Read More »
It may feel like your expenses come calling as soon as your income hits your account. Money comes in, money goes out. It’s up to you to figure out how to balance your budget to ensure your needs are covered, you can afford your wants, and you’re squirreling away some savings. The 50/30/20 rule is
Exploring the 50/30/20 Rule: A Simple Budgeting Strategy Read More »
You probably already know that a budget can help you control your cash flow and check important financial boxes, like affording your expenses and saving for the future. That said, if you just really don’t like budgeting, knowing that it’s good for you doesn’t make it any easier to stick with. When budgeting feels like
4 Budgeting Ideas for People Who Don’t Like to Budget Read More »
The 20/10 rule of thumb is a budgeting technique that can be an effective way to keep your debt under control. It says your total debt shouldn’t equal more than 20% of your annual income, and that your monthly debt payments shouldn’t be more than 10% of your monthly income. While the 20/10 rule can
What Is the 20/10 Rule of Thumb? Read More »
Social Security Disability Insurance (SSDI) benefits help millions of disabled Americans keep a roof over their head and food on the table. Unfortunately, SSDI payments don’t magically show up in your bank account. SSDI recipients generally must wait five months to get their first SSDI payment, according to the Social Security Administration (SSA). Payments begin
How Long Does It Take to Get SSDI? Read More »
A debt trap can occur when you are forced to take out new loans to repay your existing debt obligations, creating a cycle of compounding debt. Even a small new loan can push you into a debt trap if you can’t repay it on time or in full. A cycle of debt can be hard
What Is a Debt Trap? Read More »
If you think you’ve got this summer’s vacation already plotted out, make sure you’re not forgetting to budget for all costs. Sneaky, easy-to-forget costs can add up and throw your trip off budget. Trip expenses will vary depending on where you’re going, for how long and your plans while you’re there. But if you forget
7 Travel Expenses You May Be Forgetting to Budget For Read More »
Creating a budget is key for affording your expenses, avoiding debt and reaching your financial goals. But anyone who’s ever tried to stick to a rigid budget has likely experienced the reality that things don’t always go as planned. You may spend more on transportation, bills, groceries or dining than you anticipated. When that happens,
How to Build a Budget Buffer Read More »
Inflation is putting financial pressure on U.S. households. Consumers are now paying 6% more for goods and services than they were in March 2022, according to the U.S. Bureau of Labor Statistics. While that’s down from last year’s highs, which were the highest rates seen since the 1980s, inflation still remains steep. This persistent hike
6 Ways to Fight Inflation and Save Money Now Read More »
From juggling student loan payments to saving for a car, making personal finance decisions can be overwhelming. On top of that, you may have other financial goals in mind but no idea how to achieve them. To help get your finances on track and prepare for your future, you may want to start a budget.
Budgeting for Young Adults: 19 Money Saving Tips for 2023 Read More »
Getting divorced causes disruption in all aspects of life, especially when it comes to parenting and finances. To ease the burden of shifting from a two-household income to one, a divorce decree or child custody agreement often requires the noncustodial parent to pay their ex child support. While it’s illegal to defy court orders that
How to Budget With Inconsistent Child Support Read More »
Direct deposit is a fast, efficient way to move a payment directly from the account of the payer to your personal bank account. These days, most employers offer the option of direct deposit for your paychecks. The funds are generally available much more quickly compared to depositing a paper check; depending on your bank’s rules,
Early Direct Deposit: How You Can Get Paid Early Read More »
