Relationships can be filled with tricky financial situations. Here are some tips on navigating money management as a team.
The term "budgeting" has some negative connotations, similar to "dieting." However, creating a monthly spending plan (budget) with room for eating out, entertainment, and other perks doesn't have to be a chore. Monthly spending plans can help make sure you're allocating money to the areas that mean the most to you, saving for your goals, and still providing enjoyment without the guilt of overspending.
From deciding how to use their spending money to deciphering student loan options, it can be difficult for students to adjust to the financial side of college living. But it’s a great time for them to learn how responsibility and planning can lead to success, both for their wallets and their lives after college.
Do you picture yourself owning a new home, sending your kids to college, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That's where financial planning comes in.
If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time. Retirement is a decision that should be carefully thought out; here are some things to consider when deciding whether to retire at the same time as your spouse.
An important part of managing your personal finances is keeping your financial records organized. Whether it's a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document--and you'll need to locate it relatively quickly.
A donor-advised fund may help you to "supercharge" your giving by saving money on taxes, allowing more funds to make it to your intended charities. DAF's have two major tax benefits to the donor, as well as tax-free growth inside the account. Can this help you give more to your favorite charities, while saving taxes?
If you are a young adult graduating from high school or college and entering the workforce, you may have the opportunity to open a 401(k) through your new employer. In some cases, that employer will also offer matching contribution funds up to a certain percentage. While it sounds like a no-brainer to take advantage of these benefits early, less than one-third of employees ages 25 and younger participate in their employer’s 401(k) plan. It’s essential to know the benefits of investing early and often, as it can help set you up for financial success in the future.
If you're contemplating a separation or divorce, you certainly have a lot on your mind. Apart from the very emotional impact of separating from a partner, there are many financial and practical matters to consider as well.
Small business owners often invest funds back into their business to promote growth, but you should consider saving at least a small percentage of your revenue as a backup plan. You may also want to make sure that your business is viable even if you leave. Instead of spending all of your time working within your business, you should focus time working on your business.
If you have plenty of income to live on in retirement, is it really necessary for you to retain a life insurance policy? Of course, the answer will depend on your situation—your current debts, resources, and financial plan. However, you may want to consider if retaining, obtaining, or converting your policy would be beneficial for you.
Retirement can invoke a mix of conflicting emotions from anticipation to fear, excitement to anxiety. It’s one of the biggest life changes we experience in our adult lives. Most of us anticipate and save for it for decades. But, going from receiving a paycheck for most of your adult life to living off the wealth you have amassed is no doubt an unnerving transition. Have I saved enough to live off of? How will I...
