Kids start to gaze out classroom windows, the grass turns green again and the temperature slowly rises. If you and your family are like most, you now plan summer vacations. Beware of daydreams of fun in the sun: If you aren’t careful, vacation expenses can put a large dent in your wallet and potentially wreck your full year’s budget.
Living paycheck to paycheck causes obvious stress. Even worse, it puts you at risk for financial disaster when an unexpected expense or loss of income drives you to credit cards and mushrooming debt. Here’s how to escape this vicious merry-go-round.
In our quest to save for various goals, developing a fear of spending is possible. To conquer this unhealthy fear, align your spending with what you value.
Getting deep into credit card debt is too easy. There are many ways to get out of debt, and none of them is easy. The two most effective methods are the debt snowball and the debt avalanche. Let’s take a look at the pros and cons of these strategies to decide which works best for you.
Who can save for retirement these days? You can, if you know where to look and honestly assess what you can live without.
Paul was a comfortably retired dad with a financially strapped son, whose own retirement prospects appeared dim. But grown sons too often don’t listen to their fathers. That’s why Paul called in his advisor to help his offspring, John.
The price to sleep better at night for Lisa was $40,000. That was how much she owed in credit card debt. But getting her to take the painful steps to reduce that debt was tough. For instance, there were the gifts she loved to give to her beloved niece.
Credit troubles often begin inconspicuously, yet there are signs all along the way before they become unmanageable. Being alert to these warnings allows you to make the necessary changes to prevent a future of financial worries.
Millennials (born between 1980 and 2000, aka Gen Y) drown in advice about investing for retirement and growing wealth to achieve financial goals. How much to scrape out of each paycheck to grow yourself a sufficient nest egg? Hard to pinpoint, but you can plan based on your goals and a few general rules.
Any good financial planner will generally tell you to set aside at least three to six months’ living expenses for a rainy day. If you ever need this money, you’ll need it fast, but isn’t there somewhere better to keep it than your mattress? Here are a couple of options.