Personal Finance
Apr 11, 2023 Saving on prescription drugs is a snap, thanks to companies like SingleCare and GoodRx. These platforms provide free coupons for users to lower their prescription drug prices. That said, understanding which to use can be confusing due to similarities between the services. When considering SingleCare vs. GoodRx, here's how to tell which will suit you best. A financial advisor can help you plan for healthcare expenses now and in the future. Find a fiduciary advisor today. Read More...
Mar 31, 2023 You don’t have to make a new year's resolution to make an effort to improve your financial wellness this year. Fortunately, a plethora of books are available to help you budget, save and develop sustainable financial practices. Whether you are nearing retirement, under age 30 or at another financial milestone in between, these financial planning books can help you reach your goals. If you're looking for more direct help, consider working with a financial advisor who can help create a financial plan, manage your assets and build your wealth. Read More...
Feb 03, 2023 Financial stress is unpleasant to endure, and it can be a detriment to your quality of life. In fact, the longer you suffer financial anxiety, eventually, it can wear down your health and even cause you to make worse financial decisions, which in turn, will only create even poor financial wellness, which will then make you tenser. But worrying about your money doesn’t have to be a burden that you carry indefinitely. Here are six practical ways to mitigate your financial stress. A financial advisor could help you create a financial plan to get on a stress-free path to managing your money. Read More...
Jan 30, 2023 SmartAsset’s mission is empowering people to make smart financial decisions, which it does by matching people with financial advisors and guiding them to educational content and calculators. It also means playing an active role in youth financial literacy. Since 2019 SmartAsset has mentored local high school students in financial literacy with its SmartStart program, with the goal of empowering young people with the knowledge and skills to manage their finances. And now, SmartAsset is expanding its efforts with a scholarship to support college students interested in furthering their financial education. Read More...
Jan 30, 2023 SmartAsset’s mission is empowering people to make smart financial decisions, which it does by matching people with financial advisors and guiding them to educational content and calculators. It also means playing an active role in youth financial literacy. Since 2019 SmartAsset has mentored local high school students in financial literacy with its SmartStart program, with the goal of empowering young people with the knowledge and skills to manage their finances. And now, SmartAsset is expanding its efforts with a scholarship to support high school students interested in furthering their financial education. Read More...
Jan 18, 2023 We would all like to save a bit more money. Whether you want a better safety net, need to pay off debt or are saving up for a big purchase, having extra cash on hand is a good thing. It’s not easy though. The truth is, most of us are relatively smart with our money. It’s just that building wealth isn’t very easy for generations that spend 40% of their income on rent, 10% on student debt and (thanks to the era of gig work) an extra 7.65% in taxes. Instead, if you want to save money, try a couple of these tips for the new year. Consider working with a financial advisor to see how you can maximize the growth of your savings. Read More...
Jan 06, 2023 Deferred compensation is a way for employees to reduce their tax burden while ensuring their economic security in their golden years. Deferred compensation plans with a long vesting period are commonly referred to as golden handcuffs because they effectively trap you in a job, no matter how badly you’d like to resign. Here’s what you need to know to determine if your golden handcuffs are worth staying at your job and how much quitting will cost your future self. If you're looking for guidance in your current financial situation, consider working with a professional financial advisor. Read More...
Jan 06, 2023 College can be invaluable, potentially leading to higher lifetime earnings. However, saving for college can be a very long-term goal that you'll need to check to verify your progress. After all, the cost of college has risen rapidly and savings can help avoid costly student loans. Here is how much you may want to have saved by various ages of a child preparing to attend. You can also work with a financial advisor who can provide clear guidance on the best avenue for you in order to save enough for your child to attend school. Read More...
Apr 17, 2023 Unless you’re extremely rich or poor, you probably think of yourself as being part of the “middle class.” As you’re probably aware, “middle class” is an income level that describes people whose annual income is directly in the middle 50% of all income. If you’re middle class, you are not considered to be rich or poor. However, when it comes to middle-class income, how much money is that, exactly? We analyze below but if you're part of the middle class then you could likely benefit from working with a financial advisor in order to maximize your potential wealth growth. Read More...
Mar 20, 2023 If you knew working twice as hard over the next five years would net you $1 million in your savings account, would you jump at the opportunity? The number might seem impossible, but you can accomplish it. To save $1 million in five years, you will have to calculate how much you will need to save and which investments can help you reach that goal. Use the tips below to start your journey toward $1 million. You can also work with a financial advisor who can help you create a financial plan in order to achieve your goals. Read More...
Mar 20, 2023 Getting out of debt is one of the best financial goals you can set for yourself. From a purely mental standpoint, no matter what kind of bills you’re paying, it’s a huge relief to have any kind of debt taken care of. From a financial standpoint, it’s even better. Eliminating debt gives you the freedom to make forward-looking investments rather than backward-looking spending. Yes, that car or degree has value, but once you’ve paid it off you can start planning for the next big thing rather than paying for the last big thing. Becoming debt free isn't easy but here are some of the best ways you can start to do just that. You can also work with a financial advisor to help you make a long-term financial plan. Read More...
May 09, 2023 Many successful people will tell you that they read a book that changed their lives. In this look at several of the best personal finance books, there may be one or more that could help you change your financial life. The reading material is not always light, but it is important for you to learn how to meet your financial goals or even how to realistically set financial goals. The five personal finance books below can help you gain a better understanding of your financial needs and teach you how to set up and follow through on goals. Learning from a financial advisor is a good complement to learning from financial books. Read More...
Mar 20, 2023 As grandparents and other relatives look for a way to leave a legacy and impact the next generation, younger people are facing record-high college expenses and unmanageable student debt. Fortunately, 529 plan gift contributions help solve both issues by providing a conduit for monetary giving that alleviates a major problem for students and saves money for college. It's important to understand how to make a 529 plan gift contribution without incurring tax burdens. You may also want to work with a financial advisor who can help you create a college savings plan for your own financial situation. Read More...
Nov 01, 2022 Getting divorced can mean untangling some sticky personal and financial issues. A wrinkle may be added when there are kids involved and you’re trying to work out custody arrangements, child support or a co-parenting plan. One parent or the other may suggest including a morality clause in the final divorce agreement. A morality clause can outline certain behaviors that each parent is expected to avoid and there are some pros and cons to implementing one, which we discuss below. You should also consider working with a financial advisor if you're planning for or going through a divorce to help you get your finances in order. Read More...
Mar 20, 2023 Home care provides professional services for a person, typically someone who is in poor health or who cannot regularly attend a physician's office, to live at home. It includes a broad range of services and levels of care. Here are different types of home care services that are included. If you're looking for ways to prepare financially for the future in order to cover insurance or other home health needs, consider working with a financial advisor. Read More...
Mar 20, 2023 When parents get divorced, child support ensures that both parents contribute financially to the care of their children. Child support payments can be negotiated between parents, but the courts step in when they cannot agree on the right amount. Here's a breakdown of what child support is used for, who gets it and what restrictions apply. You can also work with a financial advisor to prepare your finances to either pay child support or to make sure the child support you receive goes to helping your child with qualified expenses. Read More...
Mar 20, 2023 Getting married is a special time in the lives of many people. However, not all marriages end up in wedded bliss. To protect themselves in case of a divorce, some couples create a prenuptial agreement that spells out financial obligations in case they split up. A postnuptial agreement, on the other hand, is written after marriage to outline protections and ownership of assets in case the marriage dissolves. You can speak to a financial advisor if you're not sure how to financially prepare for marriage, whether you're currently married or not. Read More...
Mar 20, 2023 Using Social Security’s Self Lock feature keeps anyone from using your Social Security number for credit or employment-related fraud. This prevents someone else’s wages from being reported to the Internal Revenue Services as your wages. However, it also will make it difficult or impossible to borrow money or get a new job. Self Lock automatically expires after a year or whenever you take action to cancel it. A financial advisor can provide guidance on all matters financial, including identify protection. Read More...
Aug 16, 2022 College can be one of the biggest expenses you might have to plan for as a parent, after buying a home and funding your retirement. If you have room in your budget to save for college, it’s important to choose the right place to keep your money. You could open a regular savings account at your bank but a 529 college account could yield more benefits. It’s helpful to know what’s different about a 529 vs. savings account when deciding where to save. You can speak with a financial advisor directly who can help you learn more or dive into the choice of which might be best for your financial goals. Read More...
Mar 20, 2023 Keeping your money in a savings account is a good way to keep a certain amount of money separate from your daily spending. While most savers prefer to keep their money in a single savings account, it's possible to have more than one. Whether that strategy makes sense will depend on what your goals are and how much money you're saving. Working with a financial advisor can be the easy way to figure out if this is the right strategy for you and how to execute it. Read More...
May 30, 2023 If you have money in a checking, saving or other depository account, it is protected from financial downturns by the FDIC. Beyond that, investment products are more exposed to risk, but you can still take some steps to protect yourself. Here's what you need to know. A financial advisor can help you create a financial plan for your needs and goals during an economic depression. Read More...
May 27, 2023 Investors interested in non-retirement investment accounts have likely heard of or already have a brokerage account. However, in recent years, many brokerage firms have also begun offering cash management accounts to their clients. Although offered by the same financial institution, the two accounts function very differently. Learn more about the differences below. Read More...
Apr 06, 2023 The key to gaining financial security is to set financial goals and keep re-evaluating your progress. Without working toward anything specific, you’re likely to spend more than you should without realizing, leaving you vulnerable to life’s unexpected moments. Financial planning doesn’t have to be difficult. You can speak with a financial advisor, who is best equipped to help you on your way to financial success, or you can educate yourself, sit down and write up a list. Read More...
Mar 18, 2023 Sometimes it feels like you’re spinning your wheels and every paycheck is gone before you’ve spent it. You might wonder why you try so hard to save but that number never seems to grow. The key to reaching financial security is setting financial goals. Without working toward anything specific, you’re likely to spend more than you should without realizing. When it comes time to retire, you’ll wonder how in the world you’ll survive. Or maybe you’ll think you can’t ever actually retire. You might get stuck in a vicious cycle of debt upon debt, leaving you vulnerable to life’s unexpected moments. Financial planning doesn’t have to be difficult. You can speak with a financial advisor, who is best equipped to help you on your way to financial success, or you can educate yourself, sit down and write up a list. Follow this guide and take the opportunity today to set yourself on firmer financial footing. Read More...
Apr 02, 2020 In response to the coronavirus, companies across the country are pursuing coronavirus relief efforts to help people and businesses most impacted by pandemic. Tech companies are donating millions to help small businesses, healthcare workers and COVID-19 patients. Meanwhile, companies outside the healthcare sector are producing hand sanitizer, masks and other products to curb the spread of the virus. Many are also establishing programs to help those who can’t come to work. In addition to benefitting from companies who are doing their part to help people stay safe and financially afloat, Americans can also work with a financial advisor to protect their investments during this time of uncertainty. Read More...
May 09, 2023 With a checking account, you get a debit card to spend your cash nearly anywhere you wish. But many people can't qualify for bank checking accounts, and in a world where card transactions are increasingly common, that's a problem. This is why prepaid debit cards like NetSpend are a billion-dollar business, with more card options appearing each year. We'll review some of the benefits NetSpend cards provide, as well as the fees and headaches. If you want to learn more about good spending habits and long-term goals, consulting with a financial advisor may be a good next step. Read More...
May 09, 2023 In the past two years, investors have taken an unusual interest in the Federal Reserve Bank. That's mostly due to a Fed policy known as 'quantitative tightening', or QT. Effectively, QT was the Fed's attempt to reduce its holdings after it bought huge amounts of debt during the 2008 Great Recession. While some details will interest only economists, QT may have implications for financial markets and regular investors. It's useful to explore the backstory, but a financial advisor can be helpful if you're concerned about how Fed activity can impact your investments,. Read More...
Jul 05, 2018 According to the U.S. Census Bureau, the average American spends roughly 26 minutes commuting by car from their homes to their workplaces. That means we're collectively spending billions of hours on unproductive and unfulfilling commutes. But it's not just time that we're spending on our commutes - we're spending money, too. The average cost of an American commute is $2,600, according to the Citi ThankYou Premier Commuter Index. Read More...
Dec 02, 2016 Even the most amicable of divorces generally involve some kind of expense. The average cost of a divorce varies greatly based on how complicated the case is and on the kind of divorce you seek. At the very least you'll have to pay court costs and filing fees for divorce paperwork. But if lawyers are involved, costs can balloon from a few hundred dollars to several thousand or even tens of thousands of dollars. The cost of getting a divorce can exceed the average cost of a wedding. Read More...
May 09, 2023 Even if you've opted to go paperless on things like bank statements, you probably still receive important mail related to your finances. These could be medical bills, old tax returns or explanations of benefits from your insurance companies, for example. So how do you know which documents you should shred? Take a look at our guide. Read More...
Mar 20, 2023 The average cost of a wedding is now well over $30,000. Coming up with enough cash to pay for the reception, the dress and the food can be difficult for brides and grooms. Wedding guests can also find themselves in a financial pinch, especially if they have to attend multiple ceremonies in a single year. If you're trying to figure out how much to spend on wedding gifts, read on for some advice and tips on how to save big on presents. Read More...
Mar 20, 2023 COBRA continuation coverage lets you stay on your employer's group health insurance plan after leaving your job. COBRA stands for the Consolidated Omnibus Budget Reconciliation Act. It's shorthand for the law change that required employers to extend temporary group health insurance to departing employees. Let us explain how it works. Read More...
Mar 20, 2023 If you're in your 20s, your net worth might be the last thing on your mind. But it's never too early to start creating long-term wealth. Many twenty-somethings are financially challenged, but it's possible to maneuver around wealth-blocking obstacles if you know what they are. If you're trying to boost your net worth, here are five things that could keep you from achieving that goal. Read More...
May 09, 2023 Maybe you're already a bitcoin user and you want to start mining bitcoin, or maybe you're totally new to the bitcoin world. Either way, we've got you covered with our guide to how to mine bitcoin. It's not a walk in the park, but it's a doable process if you have the time and resources. Read More...
Mar 31, 2023 According to the U.S. Energy Information Administration, the average monthly residential electric bill for Americans was $117.46 in 2020, up from $115 in 2019. However, several factors such as location and home size will affect the price of your electric bills. We’ll tell you all you need to know about the average cost of your electric bills. If you're looking for ways to save to reach your financial goals, a financial advisor can guide you through every aspect of your financial life. Read More...
Mar 20, 2023 Millennials face an uphill battle when it comes to their finances. Crippling student loan debt, skyrocketing rental rates and dismal wages form a perfect storm of sorts that makes it hard for young adults to get ahead. There are some millennials, however, who have managed to build up some sizable wealth. According to one study, adults ages 18 to 33 represent 11% of high net worth households. So what's their secret? It all comes down to making the right money moves. If you want to take a page out of the rich millennials' playbook, here's what you need to know. A financial advisor can help you find practices that raise the likelihood that you will meet your goals. Read More...
Apr 01, 2023 Your net worth is one indication of your financial well-being. It's the value of your assets after subtracting your liabilities. While you might know what your favorite celebrity is worth, you might not have a clue as to your own net worth. Increasing your net worth can be a good financial goal to strive toward. Need some assistance? Check out these seven ways to get started. Looking to build your net worth? Consider a financial advisor's help. Finding one is easy with SmartAsset's free financial advisor matching service. Read More...
Mar 16, 2016 Google search traffic has been shown to be a useful tool for measuring the interests and concerns of the general public. For example, it has been used to predict both unemployment claims and retail sales. Recently it has also been used to forecast election results with greater accuracy than many electoral prognosticators. At a less scientific level, entering a query such as, “why am I so…” and scanning the suggested searches can give you an interesting, if sometimes troubling, window into the human psyche. Read More...
Mar 20, 2023 Does the idea of raising your own chickens appeal to you? It's not for everyone (apartment-dwellers, we're looking at you) but it can be a rewarding project. If you haven't taken the plunge yet, you may be wondering whether it's possible to save money or even make money by raising chickens. Here's what you should know about the economics of raising chickens. Read More...
Oct 01, 2022 Over 40% of U.S. households have access to a video streaming service, according to a 2015 Nielsen report. What's more, 13% of households have more than one streaming service membership. If you use Netflix, Hulu Plus or one of the other popular streaming services, you're not alone. Let's take a closer look at the rise of video streaming service and what their popularity means for the future. Read More...
May 18, 2018 If you've ever walked down the pet aisle at a big supermarket you've gotten a sense of the scale of America's pet industry. According to the American Pet Products Association (APPA), total pet industry expenditures reached $60.59 billion in 2015. That's up from $58.04 billion in 2014. Let's take a closer look at the economics of the pet industry and how much the average American spends on the family pet. Read More...
May 30, 2023 You could marry the love of your life when the temperature rises above 70 degrees. Or you could plan to say your vows in the dead of winter. If you're a fan of sunshine and warm weather, you might think twice about getting hitched when there's snow on the ground. But there are several reasons why throwing a winter wedding could be better in terms of planning and budgeting. Read More...
May 30, 2023 Since their debut during the Great Depression, layaway plans have allowed Americans to make large purchases without having to pay for them right away. While a layaway program can be a good alternative to using a credit card to buy holiday gifts, it can be risky as well. If you're torn between those two payment methods, it's a good idea to consider the pros and cons of layaway plans. Read More...
Nov 12, 2017 Research and recent articles have brought to light a phenomenon known as the pink tax. Evidence shows that certain products designed for women have higher prices than the same products marketed toward men in the U.S. and other countries. Annually, the pink tax costs women nearly $1,400 above what men pay for the same products. Unless you live in an area where this type of gender pricing is banned - like New York City, Miami-Dade County, Florida or California - you'll need to know what to do to sidestep extra fees. Read More...
May 09, 2023 Winter is coming. That's right, another season of snow, cold and darkness is on its way. If you can't get out of winter by flying south, get into winter by making the best of the season. One way to make winter work for you is by getting prepared for the worst. We've put together a list of the 10 items you need in your winter survival kit. Whether you opt for a pre-made kit or make your own, here's what you should have on hand this winter to be ready for whatever nature throws your way. Read More...
May 04, 2022 The Federal Reserve, facing surging inflation it once dismissed as "transitory," has hiked a key interest rate by a half percentage point - a move the U.S. central bank has not made for more than two decades. The interest rate hike, along with the Fed's announcement of plans to shrink its bloated balance sheet, takes powerful aim at an inflation rate that soared to 8.5% in March. The twin moves will affect retail prices like food and gasoline as well as investment securities. Here's what you need to know about the Fed's actions. Consider working with a financial advisor as you position your portfolio and savings to handle both inflation and higher interest rates. Read More...
Mar 20, 2023 With all the personal finance advice on TV and strewn across all corners of the Internet, it can be hard to know what's fact and what's fiction. So we're here to help. Below are 10 popular personal finance myths that people like to spread, as well as why you shouldn't buy into them. Read More...
Oct 01, 2022 Socking away money into a 529 plan is a smart move for parents who want to help their kids with the cost of college so they don't end up overburdened by student loans. Compared to a Coverdell Education Savings Account, 529 plans offer a lot more flexibility in terms of how much you can save, who can use the money and what you can do with any excess that's left over once your student graduates. If you've been saving diligently for your child's education and you anticipate having a surplus, here are five ways to put it to good use. Read More...
Mar 20, 2023 Tiffany Aliche is The Budgetnista. She teaches financial empowerment through speaking engagements, workshops and her bestselling book. Her motto is "LIVE RICHER" and for this edition of SmartAsset Talks she explains what that means and how you can join 10,000 other women for her free 2015 LIVE RICHER Challenge. Read More...
Feb 14, 2020 There are people walking around right now who are owed hundreds, thousands, or in some cases even millions of dollars in unclaimed property. In fact you might be one of them. Let us explain... Read More...
Sep 28, 2022 When you're trying to score a break at tax time, maxing out your deductions can potentially lower your bill or result in a bigger tax return. Apart from the standard write-offs for things like mortgage interest or business travel, you may be able to claim more unusual expenses, including the cost of taking care of a pet. The IRS has certain rules about when pet expenses are tax-deductible, so if you've got some furry friends at home, here are a few scenarios where you might benefit. Consider working with a financial advisor as you work on a budget, whether that includes a pet or not. Read More...
May 30, 2023 You hate it, I hate it, everybody hates it. Sometimes, though, asking for financial help is the only way out of a jam. With the holiday season coming up, chances are your relatives are asking you what you want as a gift. What if you gave a different answer this year and got some financial help instead of a new pair of socks? If you choose to go down this road, here are our top 5 tips for making the conversation as easy as possible: Read More...
Oct 01, 2022 Everyone loves a bargain. Manufacturers and retailers have understood that fact for decades and the result is bigger boxes with less content because it provides the impression of being a good deal. The process is simple: They offer consumers five percent more in a package that's 10 percent larger, label it bulk economy size and charge 15 percent more than the regular size. Read More...
May 30, 2023 Having a discussion about home energy consumption and saving money can sometimes seem intimidating so it might be best to start with the fundamental equations at the heart of the issue. E (energy) = M (money) Therefore, more energy equals more money. Read More...
Mar 27, 2023 If you're a parent, paying for college can put a serious strain on your budget, especially as tuition prices continue to climb. According to a U.S. News study, during the 2022-2023 school year, the average cost of tuition at an in-state, public four-year university is $10,423. The cost jumps even higher for students enrolled at private colleges. Saving early and often can soften some of the blow but you have to make sure you're stashing your cash in the right place. Aside from personal savings accounts, the most common ways for parents to save for college are 529 plans and Coverdell Education Savings Accounts. Consider working with a financial advisor as you make plans to cover your college education expenses. Read More...
May 09, 2023 It's that time of year when new grads are taking that long walk across the stage to collect their degrees and first-time students are preparing to head off to college for the first time. From a parent's perspective, both events can be financially draining, especially if you're shouldering some of the cost of tuition or forking over a sizable amount of cash as a graduation present. To add insult to injury, your wallet could see even more of a strain if you have to pay a gift tax on your contribution. Consider working with a financial advisor as you make plans to provide financial support to students. Read More...
Apr 13, 2018 Getting a divorce can take an extreme emotional toll on everyone involved and it can also pack a wallop when it comes to your money. Even if you don't have a substantial amount of assets to divvy up you need to be prepared to untangle the knots of shared financial responsibilities. Doing as much as you can to separate things before divorce proceedings begin can save you a lot of time and headaches in the long run. If your marriage is on the rocks, here's what you can do to protect your finances. Read More...
May 09, 2023 When you get delivery or takeout from your favorite restaurant on the job, chances are you’ll get, along with your plastic cutlery, a handful of tiny paper packets of salt. If food needs it, we typically use one or two of these, and tend to throw the rest out. But why waste salt when it’s so useful? After all, to the ancient Romans and West Africans, salt was worth its weight in gold, and it still can be. Here are five ways you can put your salt packets to work at work. Read More...
May 17, 2023 At some point, parents have to decide when to permanently close the Bank of Mom and Dad and allow adult children to stand on their own two feet. If you've taught your kids smart money habits from an early age, it may be relatively painless for them to make the leap to financial independence. Cutting the financial cord may be a bit more difficult when the roles are reversed. Read More...
Feb 13, 2020 I’ve recently started taking the city bus to work. Some of you reading this might yawn and say, ‘so what?’ Some of you might think, ‘I would never take the city bus.’ Every city transit system is different, and while it may seem like a no-brainer to take public transit in New York City, it doesn’t necessarily compute to folks in Albuquerque. Beyond just saving money and the environment, there are several reasons why you should really contemplate riding the mass transit in your city. Read More...
May 29, 2023 The unfortunate truth is that most people do not feel prepared financially for their retirement years. A 2013 survey by American Consumer Credit Counseling found that 75 percent of people agreed that they were not financially ready for their post-work years. But what about if retirement comes earlier than expected... and not by your choice? Read More...
May 27, 2023 If you are hoping to make smarter decisions with your finances, seeking out professional help may get you closer to your goals. Financial advisors can offer guidance on the best way to manage your money but they're not all created equal. There are four basic types of financial experts to choose from and knowing how they differ can help you find the best fit for your situation. Read More...
May 29, 2023 In the wake of the recession, millions of Americans have found themselves looking for ways to trim their budgets. With the economy still recovering, many consumers continue to rely on frugal tricks like clipping coupons, scouring bargain bins and shopping secondhand to save. Read More...
May 29, 2023 This is a guest post written by the Editors of CreditDonkey. It's a tough economy out there, and even tougher for elderly folks. According to the Pew Research Center, around 20 percent of adult children ages 40 to 60 years old in the United States help with their aging parents' living costs, including everyday expenses and geriatric care bills. If your parents have fallen on hard times, whether due to illness or dwindling income, you have several different options. Read More...
Apr 01, 2023 Saving money doesn't always mean you have to drastically change your lifestyle. There are small changes that can really add up. In fact, you can find large savings in every room of the house. Check out our latest video blog for 3 tips to save you money in the bathroom: Read More...
Jan 20, 2023 A trip to the emergency room or an unexpected illness can be a recipe for financial disaster if you don't have health insurance or your coverage isn't that great. This is unfortunately happening to many Americans as medical costs continue to rise post-COVID. However, on the bright side, as of the beginning of 2023, all medical debt in collections of less than $500 will no longer be listed consumer credit reports. That means qualifying medical debts will weigh on your overall financial health much less then they used to. Do you have questions about building a financial plan for the future? Speak with a financial advisor who serves your area today. Read More...
May 09, 2023 It's the time of year when many of us think about giving back. You can donate money or time, new toys or old coats. But this year, I decided to donate my hair. It doesn't cost a thing (often the salon will offer a free haircut if you are donating) and it can mean a lot to someone else. Check out the video of my hair donation here: Read More...
Dec 23, 2014 Five years after the Great Recession and resulting financial crisis, the economy still has not recovered to the degree that economists and policy makers had hoped. Unemployment is on the decline, the threat of deflation has abated, and the stock market is at all-time highs. Yet Americans are not spending. Consumer spending is the final piece to an economic recovery. Without it, the present recovery has remained tenuous, fueled as much by Federal Reserve action as by true growth. Read More...
May 09, 2023 Estimates vary, but Americans aspent between $110 billion and nearly $125 billion on their pets in 2021. By 2030 that figure will have jumped to $275 billion, according to Morgan Stanley. The largest percentage went towards food. But pet owners shelled out approximately $34 billion just for veterinary care and associated products, according to the American Pet Products Association. Purchasing pet insurance can offset some of the costs. But you need to make sure it's really worth it before you sign on the dotted line. Consider working with a financial advisor to make sure your pet expenditures are in line with your overall budget. Read More...
Mar 18, 2023 Everyone dreams of being on the receiving end of an unexpected wad of cash but landing a financial windfall can quickly become a nightmare. Without some careful thought and planning, you could end up squandering the money before you've had a chance to put it to good use. Whether you've come into an inheritance, gotten a hefty bonus at work or hit it big playing the lottery, we've got some tips to help you make the most of your new-found wealth. Read More...
May 29, 2023 If the bills are piling up and creditors are hounding you over unpaid debts, it may seem like the only way out is to file bankruptcy. While filing bankruptcy can give you a financial clean slate, it's meant to be a last resort. In some situations, bankruptcy is unavoidable but in many cases, all it takes is careful budgeting and a little discipline to get your debt under control. If you're struggling with your finances, these simple budgeting tips may be able to pull you away from the brink of bankruptcy. Read More...
Feb 14, 2020 If you're looking for ways to trim your budget, buying things that have been previously owned can save you a lot of money. While it's true that you get what you pay for, buying secondhand doesn't necessarily mean you have to sacrifice quality. If you take the time to shop around, you'll find that there are plenty of things you can buy in like-new condition without having to pay top dollar. Here are just a few things we think you're better off buying used. Read More...
May 30, 2023 In the U.S., there is growing national concern over the obesity epidemic. According to public health workers, anyone with a body mass index (BMI) over 30 is considered obese. Nearly, one-third of Americans are obese today, and it is estimated that by 2030, 42% of Americans will be obese. Obesity is a major concern for a number of reasons, many of which center around the healthcare costs associated with obesity. Read More...
May 30, 2023 When it comes to buying and selling real estate, there are certain situations where it helps to have a qualified legal professional on your side. If you're looking to get into real estate investing, attempting to purchase a short sale or foreclosure, or having unexpected complications with a simple transaction, it may be time to hire a real estate attorney. Before you sign on the dotted line, consider asking these five questions to make sure your prospective attorney has the skills and qualifications you need. Read More...
May 08, 2023 With Labor Day behind us and the summer unofficially officially over, the great fall sales beckon shoppers to dole out some cash on end-of-the-season sales. The transition into fall makes it possible to find deals on summer products and snatch up last year’s models before the new ones are unveiled. Here is a quick guide on what to look for while shopping this September. Read More...
May 30, 2023 Whether you consult on a freelance basis, work remotely or operate your own business, your home office is a hub for focused productivity. It can also serve as the space where you keep your personal finances organized. With the right tools and conditions, the life of the home office worker can be very rewarding. SmartAsset rounded up these handy tips to help the Smart Guy to optimize his home office space. Read More...
Jul 18, 2019 For many freshly-minted grads struggling to find their footing in a tough job market, the arrival of their first student loan bill is a harsh reality check. Just as student loan debt is approaching an all-time high, default rates are also skyrocketing. According to a recent report from the Consumer Financial Protection Bureau, approximately 7 million borrowers are in default on a federal or private student loan. If your student loan payments are putting the squeeze on your budget, you need to know what your options are. Read More...
Jan 02, 2015 Are you getting the best deal on your cell phone? Did you ever take the time to compare other companies or do you just pay your phone bill because you don’t want to take the time to shop around? I am one of those people. I love to save money but I can never get it together in time for when my plan renews, so for the last decade I have had the same cell phone carrier. Does that sound familiar? Read More...
Dec 22, 2014 People choose to rent their homes for a variety of reasons. Maybe they were temporarily relocated by their employer or their relocation was so fast, they didn’t have time to sell. When the housing market crashed, a new wave of landlords emerged. Many people found themselves upside down in their homes, but needed to move anyways. Instead of taking a loss, they rented their homes to wait for the market to rebound. Read More...
Mar 20, 2023 Handling your money is a personal endeavor. You are the person in control of what you spend on and how much you allocate to your expenses. The amount of pressure and responsibility is part of what makes budgeting so difficult. How do you decide what to buy, when to buy it, and how much you should spend? Saving money presents challenges all its own. Add to this chaos the confusion of loans, debt, and perhaps mortgages, and crafting a personal budget becomes a near impossible task. Read More...
Aug 09, 2013 High school graduation is a rite of passage and time for celebration. But unless you’re willing to witness a real life scene from 16 Candles, Weird Science or even worse, Project X, you’d do best hosting a project graduation party. Nowadays, schools across the country participate in some type of chaperoned, drug- and alcohol-free event, which typically on throughout the night. The scope of these events varies, depending on the school’s budget allocation and cost-per-ticket. But that doesn’t mean party planners need to skimp on the frills. The pleasure seekers at SmartAsset have compiled some ideas to help you load up on the fun on a budget. Read More...
Nov 04, 2022 Shopping and banking online occur constantly in the Internet marketplace. Unfortunately, online fraud and identify theft occurs just as frequently, thanks to clever thieves and sloppy consumer Internet shopping habits. Online transactions always carry some risk, but consumers can do many things to increase their security on the web. A financial advisor can help you protect your finances with a financial plan. Read More...
Mar 14, 2018 In 2009, the American Journal of Medicine found that at least 60% of all bankruptcies are caused by medical problems. The issues of health care coverage and its costs are often the center of political debate and discussion, and are a main concern of Americans from different classes and backgrounds; everyone needs and deserves to be healthy. As a culture, it has been shown that Americans are quite unhealthy, and do not often lead lifestyles that prevent the onset of disease like diabetes and heart disease. The result is that many people are finding it difficult or nearly impossible to pay for health care costs, especially those without access to health insurance. Read More...
Jul 23, 2019 Discussions of personal finance usually end up in one of two ways, with drooping eyelids, yawns and repeated glances at a watch or in raised voices and some variation of “None of this applies to me I know what I’m doing.” Yet every day more and more people find themselves in financial hot water without much of a clue about how to get out or how they got there in the first place. Read More...
May 29, 2023 Having fun on a tight budget can be tough especially if you live in a big city or anywhere where a lot of traveling is required. However, we found 12 ways anyone – families, friends, couples, or singles – can have a great time while still meeting their strict budget guidelines. Read More...
Mar 18, 2023 According to financial calculators on www.finaid.org, the tuition for a public 4-year college when a child born this year enrolls, will cost well over $50,000 a year. Even in this financial environment, it is not only possible, but extremely helpful to invest in a 529 plan, which is one of the best college savings plans. Used correctly, it can be a very useful tool for college planning and reaching your long-term goals. Read on to learn about 529 plan rules. Consider working with a financial advisor as you plan on how to afford a college education. Read More...
Dec 17, 2014 It's clear that debt can impact your credit score. There are few things that cause more stress than the looming specter of debt. Even when you are meeting monthly payments and staying afloat, that silent ball and chain still drags behind you, clinking now and then to remind you that you are not really free. It seems logical to assume that the psychological burden debt carries could adversely affect one’s mental health. I did a little investigating to find some hard numbers on this phenomenon and see what science has to say about the relationship between debt and mental health. Read More...
May 30, 2023 It’s hard to keep a family organized. Who am I kidding – it’s tough to keep yourself organized at times. Imagine trying to keep a household together with kids who are involved in activities and sports, working full time and having a spouse that works full time, too. You can easily get overwhelmed and disorganized and once you get there, it’s tough getting back. We put together some tips and helpful tools to help you stay organized and sane. Read More...
Mar 20, 2023 What if you want to buy a home, but you have a bankruptcy on your credit report? You may be worried that you won't be able to convince a mortgage lender to provide you with a home loan. There's good news and bad news. First, the bad: It will take time to repair your credit enough to qualify for a mortgage loan. But the good news? Depending on the type of bankruptcy you have filed and the steps you take next, becoming a homeowner certainly isn't out of reach. Read More...
Dec 11, 2014 Many students take out a loan to help pay college expenses — often, even more than one. For graduates who secure jobs with healthy salaries, paying those loans off early becomes a distinct possibility. If you are fortunate enough to be in this situation, you may wonder if paying off your student loans is a smart financial move, or if you should be investing the money elsewhere. Here are three questions to ask in making the right decision for your financial circumstances. Read More...
May 16, 2023 You found your dream home. You even made an offer that the seller has accepted. Before you close your home loan, you must take one more step: You need to purchase homeowners insurance. Read More...
May 16, 2023 Leasing a car can be a financially smart decision in certain circumstances. But all leases are not created equal, and the lease details found in the fine print of the contract are often the difference between a good deal and a poor one. Read More...
Dec 11, 2014 You've got a limited pool of money to put aside for retirement. How do you choose whether a 401(k) or Roth IRA is best for you? Read More...
Jun 22, 2018 Paying your bills on time each month is one of the most important ways to manage your credit score, not to mention an essential part of being financially responsible. But if you have made some payments after the due date in the past, you may wonder if that's going to affect your credit score. The answer is: yes. Read More...
Mar 20, 2023 Building an emergency fund is one of the most important financial steps we need to take, especially in today’s shaky economy. The big question for many of us, though, is how much is enough? Conventional advice says we should set aside three to six months’ worth of expenses, but that one-size-fits-all rule might not be appropriate. Let’s look at how to find the right number for your situation. Read More...
