A 401k, pension account, or IRA are all built to help people save for retirement. However, what about saving for emergencies or other needs that crop up earlier in life. Often, those retirement savings can’t help you, because if you withdraw from them early, you are left to pay expensive penalties. That leads to a… Read More
Personal Savings Rates (as reported by Trent Hamm on www.thesimpledollar.com)
Your personal savings rate is an important financial metric to track. Calculating it is simple. To do so, you need to know two things: How much money you added to long-term savings last year How much money you earned after taxes last year We use long term savings to differentiate from money you put in… Read More
6 Stages of Financial Freedom (as reported by J. D. Roth on www.getrichslowly.org)
How close you are to achieving your financial goals depends a lot on what those goals are. For most of us, just having enough money to pay the bills each month is a step in the right direction. But if you don’t know where you currently stand, or don’t have any plans for how you’re… Read More
Track Your Net Worth (as reported by Trent Hamm on www.thesimpledollar.com)
Your net worth, the combined value of all your assets (car, home, checking accounts, investments, etc.) is something that many people keep track of. And for good reason. This represents the total amount of wealth that you have accumulated over the course of your lifetime. And if managed correctly, you can see this value begin… Read More
Which Debts Should I Pay Off First? (as reported by John Ulzheimer on www.thesimpledollar.com)
Many of us will go into debt at some point in our lives. These days, it is hard not to. But the important thing to remember is that going into debt is not the end of the world, as long as we understand what we have to do to recover. Are you looking to understand… Read More
Common Financial Mistakes We All Make (as reported by www.investopedia.com)
We all make mistakes, even when it comes to managing our money. Few of us can be expected to go our entire adult lives without misspending, or making a shoddy investment decision, or failing to save in case of an emergency. With all the potential hazards that exist, having a perfect record on personal finance… Read More
Reducing Expenses in Retirement (as reported by Maurie Backman on money.cnn.com)
After you retire, chances are you will have less money to spend than you did when you were working. It is also true that some expenses, such as health care, will be higher. For these reasons, it is important to cut costs where you can so that the money you have saved can last as… Read More
The Little Guys Win One on Payday Loans
Check out this great piece from the New York Times on payday loans. Read More
Are You Financially Healthy? (as reported by Liz Weston on www.nerdwallet.com)
If someone asked you whether or not you are financially healthy, how would you answer? Most people would respond with some variation of, “What do you mean?” We don’t have a great definition for financial health in this country. And the sad truth is, as a nation, we are not very financially healthy. There are… Read More
Financial Freedom Checklist (as reported by Bob at christianpf.com)
Checklists are a handy tool that many people use to help them reach their goals. By breaking down one big goal into a series of smaller goals, you can make the tasks easier and more attainable. The people over at Seed Time have created a great starter checklist for people who wish to achieve financial… Read More