Finding ways to save for major family milestones is essential to successful financial planning. Whether you are funding your children’s education, purchasing a dream home, or embarking on unforgettable vacations, having a solid savings strategy can make these milestones a reality. This article will explore six valuable tips to help you save effectively and achieve […]
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With inflation at over 8% in August, it is an important time to begin watching every penny (if you haven’t been already). According to the official government agency tracking prices, i.e. the U.S. Bureau of Labor Statistics (BLS), food prices increased 11.4% from August 2021 to August 2022. Gasoline prices are up 25.6% over the same period. A new car will cost you 10.1% more, and even a used car will cost you 7.8% more than it would have a year ago. And these are the “official” numbers… many believe the actual numbers are much worse.
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If you truly want to empower your financial future and ensure a comfortable retirement you have to begin by planning ahead for your finances. The old saying, “failing to plan is planning to fail” definitely applies to retirement. Multiple studies including the “marshmallow test” have shown that those who take a long-term view, plan ahead, and are willing to delay gratification will ultimately become more successful than those who live for the moment and don’t plan ahead.
How To Empower Your Financial Future With Realistic, Attainable Goals” Read More »
We can all agree that saving money and preparing for your financial future is a vital task. But, those who intend to save money may find that a rising cost of living combined with flat wages makes saving difficult. Many will find that there is not enough money left over at the end of the month to save anything at all. While saving money can be challenging, these tips can help anyone reach their financial goals.
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Preparing to move, get married, have a baby, or move out of your parent’s home are all major upheavals to your current ways of life. Events like these can cause incredible amounts of stress, and any unexpected curveballs or bumps in the road certainly won’t help you adapt to a new situation. So you don’t need the added stress a financial setback creates.
That’s why those who have any major life changes coming up in the near future should take a very close look at their bank accounts and financial stability. You never want to find yourself making a large purchase or changing careers only to realize that your finances are going to suffer so much that you can’t afford the necessities.
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Everyone dreams of a comfortable retirement. Often we can’t wait to reach that moment and finally transform our lives into one long vacation. Unfortunately, saving money for that day can be a constant struggle. No matter how much you earn, there are always alternatives to saving for retirement. The most common financial worry among retirees is outliving their savings. To avoid that possibility, it’s necessary to work on a financial strategy for retirement to ease your mind. Finding ways to earn more money and make the best of what you already have will boost your retirement savings and help you sleep better at night.
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Since our schools don’t teach our kids about money, it falls upon parents’ shoulders to ensure their children are financially literate. That is why it is so important to teach these essential money lessons to your kids. Contrary to what some parents might think, it’s never too early to begin money lessons for kids. The
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Serving a slab of meat at the center of a dinner plate is a luxury that defies the advice of health experts and costs a lot of money. Instead, you can put satisfying and nutritious dinners on the table for your family without breaking your tight budget by making smart decisions about meat, sides, bread, and how you purchase your food.
Eat for Cheap: What You Can Do to Make Filling Family Dinners Fit a Tight Budget Read More »
The idea of being a homeowner is exciting and maybe a little scary. It is normal to be apprehensive before taking such a big financial step. Preparation is the key to managing anxiety and ensuring your finances are where they should be. Looking for the perfect home should be fun. When viewing residential properties, you want to spend your time selecting the home that is the perfect fit for your family. Having your finances in order allows you to do so.
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Moving to a new home can be an exciting time for you and your family. Before you make the move, though, it’s important to save up plenty of money so that you can afford a good down payment, plus any unforeseen expenses that may come up. This saving is especially important if you’re moving to a new area, as expenses could be different than what you’re used to. To help increase your financial fitness, here are some tips to help families save up for a new house in a new area.
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One of the quickest paths to financial ruin is to incur an unexpected financial strain such as medical bills or a car breaking down and having to borrow money, whether in the form of a loan or by using a credit card, in order to pay for it. Luckily, there is a solution. Having an emergency fund for cases just like this is the perfect way to avoid these slippery financial slopes. So, what is the best way to begin an emergency fund this year?
A Quick Guide to Starting a Family Emergency Fund in 2020 Read More »
When children begin receiving money on a regular basis is the best time to start teaching them financial principles. Some kids are given cash or investment certificates by family members for their birthdays and holidays. Allowances may be allocated based on kids’ ability to handle certain chores around the house, like making beds, washing dishes, or dusting furniture. Teens often get part-time jobs while still in high school. Teaching them how to be responsible with earnings will provide key principles for future financial health and success.
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