Tax time is one of the few opportunities when low-income households receive a sizable amount of money – especially if they take advantage of the earned-income tax credit. While it may be tempting to spend that money on wants vs. needs, saving your tax refund can protect you from needing to turn to payday loans or high-cost credit later in the year, and can serve as the foundation to grow your savings.
Do you ever get the urge to leave a positive impact on society? One of the best ways to do this is to participate in programs that educate and empower our youth. After all, they’re going to grow up to be the future leaders of our country, so it’s only smart to give them the tools necessary to succeed.
To splurge is to celebrate the holidays well, some might say. In fact, over $1 trillion was estimated for holiday spending in 2016, but many who spend in excess during the holidays often feel a little buyer’s remorse afterward. If this is you, feel better knowing that you’re not alone this year.
We’re all tempted at times to spoil our loved ones. Seeing their little faces light up is as much of a treat as all the gifts we have to offer. Every now and then, we have to remind ourselves that the things we give come with life lessons and that it’s important to teach the right things. When gifting money to your grandchildren, there are some simple tips that can help teach them important lessons while you make them smile.
Health is something we often take for granted. Sure, you may be in top health right now, but the future offers no guarantees. When you’re preparing for retirement, it’s good to have a medical savings account set aside to prepare you for the unexpected; why not choose a HSA and take advantage of its benefits?
The holidays are a time to eat and celebrate with family and friends, and it’s usually up to the host or hostess to pull off a get-together worth remembering. That can often mean sinking a small fortune into a one- or two-day gathering, and smart holiday hosts know how to stick to a holiday budget.
Life doesn’t come with an instruction manual. We do our best and learn from our mistakes. Nobody can tell you exactly what will guarantee your happiness, but there’s timeless wisdom that’s worth sharing. In terms of finding happiness in retirement, there are a few key elements that tend to take the cake.
While many financial institutions offer special kids and teen savings and checking accounts, parents are often reluctant to expand their child’s financial responsibility. You may have opened a savings account when they were younger, investing in their future behind the scenes or encouraging them to save their allowance, but sooner or later it’s time to teach your teen money management fundamentals. A checking account is a great way impart valuable financial knowledge to help your youngster manage money now and in the future, and the teen age is the perfect time to get started.
Do you need to cut back on spending but have no idea where to start? Maybe you’ve stopped ordering take-out and reduced the number of trips to the coffee shop in the week, but you still haven’t met your savings goals. It happens to all of us at some point, and the culprit, more often than not, is staring us in the face – the grocery bill.
Who doesn’t love online banking? It’s easy, it’s convenient, and it saves on paper waste by making all transactions digital. Unfortunately, thanks to the growth of cybercrime and digital fraud, online banking exposes users to a bit more risk than traditional banking. But the good news is that safe online banking is simple—as long as you take the right steps.
Today, it’s more common than not for families to be spread across the United States. With excellent job opportunities sprouting up in different cities around the country, most people don’t live in the same city as their parents and siblings anymore. This can make the holidays stressful as busy families struggle to find the time and money to visit family members hours away.
Those of us familiar with SchoolHouse Rock! might remember this little jingle:
“We can’t stop the money from trickling out,
But we can control how it flows—
And we can start by being aware of where the money goes.”
The catchy tune holds as true today as it did in 1995: We can’t stop paying our bills, but as long as we understand our finances, we can control them enough to keep us out of financial jeopardy.
It’s never too early to take control of your finances and start making smart money moves before you cross the bridge into fifty. Whether it’s retirement savings or debt obligations, the right choices now can save you time and trouble farther down the road, so consider these five financial moves worth making.