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If a large, unexpected expense comes along, are you prepared to pay for it without going into debt or derailing your saving plans? If not, consider building an emergency fund: a cache of money saved up to be used only in case of true financial emergencies. Most experts recommend keeping three to six months’ worth […]
How much emergency fund should I have? Read More »
In the unpredictable world of personal finance, having an emergency fund is like having a strong fortress that protects your financial health from unexpected problems. It’s very important, but not everyone understands its value. Having emergency savings is crucial during tough financial times. It’s a game-changer for everyone, from new graduates to established professionals. What
Securing your future: The essentials of an emergency fund Read More »
Keeping your emergency savings in a money market account offers a list of benefits that can be hard to find in other types of accounts. Money markets are an interest-earning hybrid of checking and savings accounts. Most money market accounts pay higher interest rates than regular savings and provide debit cards or checks so you
6 Reasons to Put Your Emergency Savings Into a Money Market Account 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 »
It can be tempting to use your credit card when unexpected expenses put a strain on your wallet. However, you should avoid using a credit card to cover costs when faced with a financial emergency. If you use your card and can’t pay off the expense quickly, you could end up paying expensive interest charges
Should I Use a Credit Card as My Emergency Fund? Read More »
Starting July 15, 2021 most families will be eligible for monthly, per child payments from the federal government. The extra money comes to them from the American Rescue Plan, and is an expansion of something called the child tax credit. (Read more about the tax credit here.) How can I claim my money? Most people
How to Get Your 2020 Child Tax Credit Money Read More »
After years of uncertainty and constant shifts within the economy, it’s always best to prepare for what you have the ability to control. Instead of allowing the world’s happenings to control your finances; take these necessary steps to give you financial security and sanity. Create a solid plan of attack to pay off credit cards
How to Recession Proof Your Finances Read More »
Have you ever wondered why airline flight attendants instruct you to put on your own oxygen mask before assisting others? It might seem selfish to put your own needs before the needs of your loved ones, but this rule is actually part of a broader philosophy: in order to help someone else, you need to
How to Manage Your Finances While Also Supporting Loved Ones Read More »
As you become more and more mature in your financial position, you’ll increasingly want to diversify your accounts. When you’re first starting your financial journey, it’s fine to just have one checking account, but the more money that you start accumulating, the more you will want to start holding it in different types of accounts.
How, Where, and Why to Use a High-Yield Savings Account Read More »
Although many people start New Year’s resolutions in January, there’s nothing magical about January with regards to self-improvement. Still, the best time to make a change or set a goal is today, so if you’re ready to level up in your life, there’s no time like the present. Here are five financial habits that
5 Financial Goals to Start in 2021 Read More »