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Retirement plans, health insurance and other benefits you get through your employer often reset with (or near) the new year. How can you best take advantage of your employee benefits as the year winds down? Taking the following steps helps ensure you get the most from your benefits before the year ends. Health Insurance Benefits […]
Use It or Lose It: Take Advantage of Benefits Before Year-End Read More »
Making your list and checking it twice? Holiday shopping can get pricey, and saving in advance can help you shop for gifts for your loved ones—without taking on debt. When your budget is tight and you’re still feeling the spirit of generosity, bringing in additional money can help you meet your holiday savings goals. There’s
6 Best Ways to Make Extra Money for the Holidays Read More »
An emergency fund is your financial safety net for life’s unforeseen twists and turns. By setting aside enough money to cover large expenses in a savings account, you can ensure your financial well-being and land on your feet no matter what the future holds. What is an emergency fund?An emergency fund is money you set
How to Set Up an Emergency Fund Read More »
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 »
Are you trying to set up a budget that works? Looking to invest your income for the first time? Developing your big-picture financial plan? Whenever you’re making money decisions, financial goals can guide you. Financial goals are your personal saving, spending, and investing targets. They might be things you want to achieve in the short
Setting Financial Goals for Your Future 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 »
The 50/15/5 rule for spending and saving provides guidelines that could make budgeting a little easier. It allocates 50% of your income to essential expenses, 15% to retirement and 5% to short-term savings. The 50/15/5 rule could be a good approach for folks who want to prioritize saving. Like any budgeting style, however, it has
What Is the 50/15/5 Rule for Saving? Read More »
The concept of “self-care” encompasses a lot. It’s all the stuff you do to keep yourself well: physically, mentally and emotionally. And it spans not just the stuff you do because you love to—like eating your favorite breakfast and spending time in nature—but also the stuff you do because it’s good for you, like getting
6 Tips for Practicing Financial Self-Care 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
How To Manage Your Money With Envelope Budgeting Read More »
Saving can feel like serious business. And, of course, it is—if you aren’t saving for the future, it’s difficult to achieve financial security. But if you’re struggling to make progress toward your saving goals, it may be time to take a different approach to saving: Make it more fun. It’s easy to lose interest and
How to Make Saving Money Fun Read More »
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 »
Your retirement savings goal may sound simple: save enough money to retire comfortably when you no longer receive a regular paycheck. But determining exactly how much money you need for retirement, and how much you should have tucked away now to be on track, can be a bit more complicated. Understanding the benchmarks of average
What Is the Average Retirement Savings by Age? 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 »
It’s a common refrain in personal finance: Set aside enough to cover three to six months’ worth of expenses in an emergency fund. But should you heed this advice? Personal finance experts are divided on whether this is adequate to keep you financially secure in case of an emergency like a job loss or major
Do You Really Need to Save Three to Six Months’ Worth of Expenses? Read More »
What is a money market account?A money market account is an interest-bearing account offered by banks and credit unions. These accounts are designed to pay more competitive interest rates than typical savings accounts while offering convenient checking account-style features like debit card access and limited check-writing privileges. Money market accounts are deposit accounts, not investment
What Is a Money Market Account? 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 »
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 »
While you may encounter some fees with your traditional checking and savings accounts, you’ll come across different fees with certificate of deposit (CD) accounts, money market accounts (MMAs) and high-yield savings accounts (HYSA). For example, MMAs and HYSAs sometimes charge monthly maintenance fees or a fee if you don’t keep a required minimum balance. CDs
Top Fees to Be Aware of for HYSAs, CDs and MMAs Read More »
Looking for a relatively safe place to stash some extra cash and earn interest too? Certificates of deposit (CDs) and bonds could be the answer. CDs and bonds are both low-risk ways to grow your money, but there are some important differences between the two. Here’s how to decide if either CDs or bonds make
CDs vs. Bonds: What’s the Difference? Read More »
