Money management is an important skill to have for young adults as they start moving out and heading off to college. The earlier the basic lessons of a savings account are taught to children, the more comfortable they'll be handling their new financial responsibilities when they do move out on their own. Starter bank accounts is an effective way to begin teaching fiscal responsibility at an early age.
Every year, the middle of April marks the end of the federal tax return filing season. For many Americans, that can mean seemingly endless forms, paystubs, and other paperwork. However, tax time can also be a unique opportunity for saving for your future! You can maximize tax time in three easy ways and have your tax refund work for you.
Should I save money or pay down debt? Should I pay for my child’s education or save for retirement? Should I pay down my student loans or build my savings? These are valid questions, as many of us have multiple savings and debt repayment goals to achieve at the same time. Figuring out how to prioritize them can be a struggle.
We’ll share a secret with you about financial security: It doesn’t matter how much money you make, it’s about the decisions you make. Living a frugal lifestyle of financial independence doesn’t need to be difficult. It’s all about small steps.
It’s more than just knowing how much money is coming in and how much is going out; it involves recognizing how planning for the future can save you money in the moment. The secret to being prepared financially is to plan in advance for your expenses.
For a large purchase, such as a home or car, having that preapproval in hand before you start shopping is crucial. A pre-approval is a written letter from a lender specifying how large of a loan you will be eligible for. The letter will also detail your estimated interest rate on the loan.