Budgeting

Subscribe to Budgeting RSS

Save or Pay Student Loans?

Submitted by Tony Perillo on Wednesday, October 22, 2014 - 3:00pm

If you recently graduated from college and landed a good job, congratulations. You may face a dilemma: Begin saving for your future or pay off student debt now?

Of course, avoid missing payments on your loans and at least meet your monthly minimums. The big question depends on whether your income exceeds your monthly expenses (including your minimum payments). How do you best put that money to work?

Ready to Buy First Home?

Submitted by Mary Beth Storjohann on Monday, October 20, 2014 - 3:00pm

Owning your home is fantastic — if you are financially ready. Here’s a quick checklist to help you determine if you can afford to be a home owner.

The first home purchase is not only a major life milestone, but it’s also a big financial commitment, a decision you should not take lightly. There’s a lot more to buying a house than just the price of it. Other items to factor in include mortgage origination fees, closing costs, interest, homeowner’s insurance and property taxes, which can fluctuate depending on the yearly assessed value of your property.

Stewardship and Your Money

Submitted by Eric Ross on Monday, October 20, 2014 - 12:00pm

What traits of the wealthy make them good at managing money? That question assumes a direct correlation between your wealth and your skill at managing that wealth. Wrong idea.

Better to ask, “What are the traits of someone who is a good steward of wealth?”

Managing Marriage & Money

Submitted by Michael Garry on Thursday, October 16, 2014 - 3:00pm

One set of financial goals is hard enough to manage. Two sets can seem impossible until you learn how to merge finances with your spouse – and how to keep some assets separate.

Coming together with your spouse for big-picture costs – homes, a college education – is probably easier if you share financial goals and values. Some couples match up from the start; other couples grow into such simpatico. (Amazingly, some couples succeed in planning despite having many different goals and values.)

Getting Free Advisor Help

Submitted by Cherice Chen on Thursday, October 2, 2014 - 3:00pm

Financial advisors are not just for the wealthy. If anything, the financially insecure need advisors more. If you can’t afford one, the good news is, free advisory services exist to help you stand on your feet.

“We do tons of planning for people with very limited assets,” said Anthony Canale, president of the Financial Planning Association, New York Chapter, during a panel discussion.

Young and Burdened by Debt

Submitted by David Geracioti on Wednesday, October 1, 2014 - 3:00pm

Today’s college grads carry unprecedented amounts of debt. How should they deal with it? Here are some strategies.

The problem sneaks up on many young borrowers. Wall Street Journal reporter Veronica Dahger, moderator of a panel of advisors, noted that a lot college grads will wake up to discover that they are burdened by an “overwhelming amount of debt.”

Talking Money With Honey

Submitted by Larry Light on Saturday, September 27, 2014 - 12:00pm

One of the most ticklish situations in a marriage is dealing with money – often because couples don’t talk about it, or if they do, not well. Advisors explored this fraught subject at National Financial Advisor Week.

“Being compatible romantically does not mean being compatible financially,” said Hilary Hendershott, on a panel of advisors that dug into the issue.

Investing? Know Your Goals

Submitted by Josh Patrick on Friday, October 10, 2014 - 12:00pm

You know you need to put money away. You might want to save for retirement or for your child’s education or just need a rainy-day fund for emergencies. Whatever your target, know that different financial goals require different strategies.

I hate it when a client says, “I have X amount of dollars to invest” and yet won’t tell me anything about his or her goals. I can’t give you a good answer unless I can understand what you’re trying to accomplish with money.

Couples Merging Finances

Submitted by Kimberly J. Howard on Friday, September 26, 2014 - 12:00pm

When a couple weds, each in the new pair often feels pressure to marry individual finances together as well. Smart financial planning actually dictates that you don’t have to – and in many cases shouldn’t – put all your money into a single, joint account. You can enjoy both cooperation and autonomy in your financial marriage.

Pages