Living for today - Planning for Tomorrow
When it comes to finances, many people take a reactive approach instead of a proactive one. About 70% of Americans don’t usually follow a budget and only save whatever’s left over at the end of the month. Failing to budget and make a plan for your money can make it difficult to save for emergencies and financial goals such as buying a home. If you
Lack of financial education is a big problem in the US. According to a recent survey, only 57% of American adults are financially literate. Although more and more schools are offering personal finance classes, that doesn’t help older generations who have already graduated like millennials and Gen Z. Because young adults have a gap in their personal finance education, many of them are turning to
It’s that time of the year again — tax season! Since I’m a freelance writer and take deductions for business expenses, my taxes tend to be more complicated than average. I’ve made the mistake of waiting until the last minute to file, which as you can imagine was super stressful! I’m determined not to repeat that experience, so I sorted everything out last week and
How much money do you need to retire? It’s a popular and hotly debated personal finance topic. Before the pandemic started and inflation ballooned the cost of housing, gas, groceries, and other necessities, a million dollar portfolio was seen as enough. But now some experts are saying millennials may need $3 million worth of assets to have a comfortable retirement in the future. I don’t
As a personal finance writer, my opinions about money and budgeting are always evolving. I read a lot of financial blogs and watch videos about saving money in my free time. Recently, I’ve become interested in no spend challenges. I participated in No Buy January and ended up loving the challenge so much that I want to continue through at least the end of February.
Now that the holidays are over, many of us are probably feeling the winter blues setting in—I know I am! Where I live in rural Michigan, we still have several months of winter to go and many dark, snowy days ahead of us. I’m not much of a winter sports person, so I spend most of the winter season inside. Being cooped up in the
Today I learned the third Monday in January is called “Blue Monday” because that’s when we get the bills from our holiday spending. If you opened up your credit card statement and were surprised at how much you owed, this article is for you. It’s easy to get carried away and spend too much money on Christmas gifts. A recent survey showed that more than
There are lots of controversial financial topics that money experts haven’t come to a consensus on. Is it better to rent or buy? Should you buy a used car or a new one? Should you pay off your house or focus more on investing? Because personal finance is personal, the right answer to these questions will be different for everyone. But today I thought I’d
Now that the new year is finally here, you’re ready to tackle your resolutions and make 2023 your best year yet. However, your eagerness to keep your resolutions could cause you to overspend and bust your budget. According to a 2018 survey, 40% of people who made a New Year’s resolution spent between $100 and $500 to achieve it. About 14% of goal setters spent
The beginning of a new year is a great time to analyze your finances and set new money goals. About 65% of Americans are planning on making a financial New Year’s resolution for 2023. Setting resolutions is relatively easy, but seeing them through to completion can be extremely difficult. Statistically, only about 9% of people keep their New Year’s resolutions. How can you ensure you
