Whether you’re earning a six-figure salary or just out of college, creating and maintaining a budget is a must. Having a budget that you actually use can help keep spending under control, bolster your savings account, adequately plan for retirement, and keep debt at a manageable level.
Do you really know how much it will cost you to sell your home? Here is a breakdown of some of those costs.
While so much of personal finance is common sense – don’t spend more than you make, don’t buy a house you can’t afford, start to invest money while you’re young, many young people today enter the workforce fresh out of college, with a boatload of student loans, and with no clue how to properly manage their money.
Remember Beanie Babies? In the late 1990’s, Beanie Baby mania swept the country, with amateur collectors searching frantically at every card shop and kids store to find the latest beanie. Many turned to online stores and eBay, looking for the Beanie Baby that would make them enough money to retire or send their kids to college.
Even with a thriving economy, many Americans continually struggle to save money. While it’s certainly tempting to spend that extra cash, socking it away for the future in an IRA or investing in stocks makes much more sense. Try out a few of these tips, and you may find yourself with extra money to put aside for college or retirement.
In a recent survey by JumpStart Coalition for Financial Literacy, only 26 percent of those between the ages of 13-21 said that they had been taught how to manage money. Yet, when they turn 18, kids are signing contracts for student loans, opening credit card accounts, and in many instances, living away from home with little financial guidance available.
It is not often that the topics of life insurance and annuities are brought up in the same discussion, primarily because they serve two very distinct purposes. Although they are both products of life insurance companies, life insurance policies are protection against dying too soon, and annuities are protection against living to long.
Over the past few years, municipal bonds may have fallen out of favor due to the fact that, until recently, the returns in the stock and bond markets were generating steady returns.
Life is full of uncertainty and the best laid financial plans must account for the unexpected.
Until recently, many retirees have been able to rely upon the three-legged stool of retirement income sources: A defined benefit pension plan that guarantees a lifetime income, their own savings, and Social Security.