Savings

  • Budgeting

    The 2020 Inflation Adjustment and Your Health Premiums

    Starting next year, inflation will impact the average monthly health insurance cost and the Medicare premiums 2020 rates. More specifically, even if your income doesn’t change, inflation might diminish your taxable earnings. In turn, you may qualify for lower premiums and tax savings. Having said that, higher health insurance options are also on the table. If your income increases, so…

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  • Budgeting

    How to Budget When You Have a Fluctuating Income

    Having a fluctuating income means that you don’t have a steady base paycheck that you can expect every month. This might apply to you if you’re a freelancer or someone who works various jobs here and there. While you may have the freedom of working when and where you want, you’ll also need to be savvier when it comes to…

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  • Insurance

    Life Insurance on a Child

    When looking for growth in savings, it is wise to plan around market-based vehicles. Although, assuming this is the best strategy in all situations is an over-simplification. Different goals call for a diverse range of strategies. For example, saving for children can look very different than planning for retirement. For one, you have to prepare for the inevitability that these…

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  • Budgeting

    The Hidden Burden of Sales Taxes

    Imagine that you’re in line at the grocery store. As the cashier rings up the other customers’ items, their total payment and sales taxes show up on the register. Meanwhile, when it is your turn, the checkout employee deducts your taxes or refunds you the amount in cash. If you happen to live in one of the states with no…

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  • Budgeting

    Communicating Your Budget to Your Family

    Monitoring cash flow for yourself is an essential task that is easily complicated. When this task becomes managing the finances of an entire family it is much more challenging. In many families, monitoring financial situations is left to one person. One of the most important parts of this role is communicating the financial situation to the rest of the family.…

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  • Budgeting

    How Much Emergency Fund Savings Do You Need?

    During Microsoft’s early days, Steve Ballmer presented his growth strategy to Bill Gates. More specifically, Ballmer wanted the company to hire 17 people in order to reach their objectives. Gates, who strongly opposed the idea, said that the expenses associated with hiring new people “would expose [Microsoft] to financial ruin”. Instead, Gates wanted his company to “have enough cash on…

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  • Investingwhat do I need to know about a 401k

    What Do You Need to Know About Your 401K?

    A 401K is a great way to save for retirement. It is essential, however, that you understand the ins and outs of this investment tool. By learning more about it, you can ensure that your money is growing at a maximum level. Almost 80% of US workers have a 401K, but each plan is unique. Learning more about how your…

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  • Investing

    When to Start Investing

    To keep things simple, the best time to start investing is as soon as possible. It would be great to end the story there but, there is more to say. The truth of the matter is that there are some things that should be taken care of before investing. If you have high interest debt, such as credit card debt,…

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  • Budgeting

    Realistic Essential Budgeting Elements for the Broke College Student

    When you don't have much money to start with, it's really hard to make a budget and stick to it. However, there are some nonnegotiable items in your budget that you need to take care of before everything. If these elements aren't prioritized, you'll find yourself in a deeper hole, getting behind on bills, and with nothing for emergencies. Broke…

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  • Investing

    Investing In the Future: Decade to Decade Tips

    Investing can change your life-if you do it early enough. Understanding what you need to focus on for each decade can give you a leg up in your finances. It can allow you to pay for college, save money for retirement, travel, or even retire early. What are some investment tips for each decade? Investing In Your 20’s In your…

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