Personal Finance
It’s the season of love, but before couples start discussing one ‘M’ word – Marriage – they should spend some time talking about another ‘M’ word – Money. After all, taking the next step in a relationship is not only a melding of hearts, but also a melding of finances.
An important component of any romantic relationship is solid financial footing. Consider the following tips as a way to achieve financial intimacy:
Be mine, or yours? Will you and your spouse-to-be keep finances separated or combine them? Consider individual money styles, having one joint savings account and Continue Reading »
Personal Savings
The Corporation For Enterprise Development (CFED) recently released the results from its 2012 Assets and Opportunity Scorecard survey, a comprehensive look at Americans’ financial security. Some of the more interesting findings:
· Nearly 45% of households do not have a basic personal safety net to meet present-day emergencies (job loss, medical crisis) or future needs (child’s college education, homeownership).
· The average amount of revolving debt, including credit cards and lines of credit, is more than $10,700 per borrower.
· More than half of the survey respondents had a TransUnion credit score at or below 700.
· More Continue Reading »
Online Security
We all have important paperwork that needs to be safeguarded: insurance policies, loan papers, marriage documents, medical records, etc. It is important to know where to find these documents when you need them, while keeping them safe during a possible disaster or from thieves and/or hackers.
Here are some common ways to store sensitive financial documents. Each offers pros and cons, so carefully consider your needs before choosing where to store your important documents. Regardless of which storage method you choose, be sure to inform your spouse, attorney, or a trusted family member where they can find your personal Continue Reading »
Home Ownership
As home prices and mortgage rates remain low, you may be considering the opportunity of becoming a first-time homebuyer. If so, don’t be discouraged by a perceived need to come up with a hefty down payment.
While it’s true the free-money days of the housing boom — when virtually anyone could get a mortgage with little or no money down — are long gone, there are still ways that qualified borrowers can get a mortgage with a small down payment. And qualifying may not be as difficult as you think. Here’s a look at some options. (Note that these Continue Reading »
Budgeting
Are you afraid to go to the mailbox, dreading the day when the January credit card statement arrives that reflects your holiday spending? If so, you’re not alone. According to one survey, despite the financially tough times, the average American planned to spend more on holiday gifts this year than last. If you didn’t pay cash, you must now pay for those gifts. And if you want to start the New Year off on the right note, you’ll need to have a recovery strategy for your finances.
Stop Spending You may be tempted to take advantage of all the Continue Reading »
Personal Finance
Remember the game Life? In Milton Bradley’s popular board game, players progress through life stages making decisions that affect their prosperity. Like those players, today’s generations face financial decisions with lasting effects. Here are some tips for staying focused despite life’s continuous ups and downs.
Generation Z (teens to early 20s) are accustomed to instant gratification, and this “Digital Generation” needs to recognize that financial success takes diligence and patience. Consider sharing the following advice with the Gen Zers in your life:
* Live within your means. Your first paycheck provides the chance to learn valuable lessons, such as Continue Reading »
