Experiencing a drop in income can send us into a panic and our budgets into a tailspin. Unfortunately, it can happen to just about anyone. You or your spouse could be laid off, work could dry up if you’re self-employed, or you or someone in your household could fall ill. Times like these call for drastic money-saving measures.
If you have adequate savings, you will be able to live off of that for a few months. But whether you have an emergency fund or not, spending as little as possible is the key to making it through such tough times. You often don’t know how long your income will be reduced, so it’s crucial to stretch the money you have as far as possible. Here … continue reading.
Retirement can be a joyful time of life. You get to leave the daily grind and spend more time doing the things you love with the people you care about. If you’ve saved up enough money to live comfortably, you can live a fulfilling, carefree life.
If you did a particularly good job of retirement planning, you may have enough money in savings to carry you through for many years to come. Even so, it’s wise to keep your money working for you. You’ll need to keep up with inflation, and if you live a particularly long life, you could run out of funds. And then there’s the chance that you could incur unexpected expenses such as long-term care.
So instead of putting the brakes on … continue reading.
Kids grow up entirely too fast. It seems like one minute they’re taking their first step, and the next they’re off to their first day of high school. All of the milestones along the way are cause for celebration, but they also remind us that our “babies” won’t be babies forever.
Kids grow quickly in the literal sense of the word, too. They go through clothes at lightning speed, often growing into a new size before the clothes they’ve been wearing start to look worn. Keeping them in attire that fits can be a chore, and it can also put a strain on the budget.
But you can get kids’ clothes without paying an arm and a leg. Here are some ways to do so.
1. Make … continue reading.
When it comes to keeping family finances in order, one of the most common hurdles that we face is overspending. Sometimes someone is obviously blowing money on unnecessary things, but often it’s much more subtle. Everyone spends a few dollars here and a few dollars there, and when the month is over, a lot of dollars are gone.
In order to get a handle on your budget, it’s absolutely essential to carefully track expenses. This includes bills, variable necessities such as groceries and transportation expenses, and discretionary spending. Here are some of the many reasons why we must do so.
* Keeping track of the money put toward bills will eliminate confusion. If you’re juggling bills, it’s important to know at a glance which ones you’ve … continue reading.
With pensions becoming less and less common, and Social Security’s future in question, it’s never been more important to think about retirement well in advance. For those whose employers offer 401K plans, they are usually the easiest and most convenient way to save for retirement. But will your 401K yield enough money to see you through your golden years? And what if there is no 401K plan available to you?
Whether you have yet to set up a retirement plan or need to supplement your 401K, an Individual Retirement Account, or IRA, can help. Available from many financial institutions, IRAs are quick and easy to set up. Most require a minimum initial investment, but some firms offer no or low minimums.
The most obvious difference between … continue reading.
When you’re selling a home that you’ve lived in for years, it can be difficult to look at it through the eyes of a potential buyer. But if you want the best possible selling price, you’ll have to do just that. No matter how great your home is, if it’s not visually appealing, it won’t bring the price that it should.
The good news is that you don’t have to spend a fortune to increase your home’s value. In fact, expensive renovations are rarely cost-effective. It’s the simple things that provide the most bang for your buck. Here are twenty things you can do to increase the appeal of your home to potential buyers.
1. Clean up the yard. You may have developed a blind spot … continue reading.
Owning a home has long been a major component of the so-called “American Dream.” It’s true that home ownership is fulfilling and liberating. But as anyone who is making mortgage payments can tell you, it doesn’t come cheap.
During the good economic times, banks practically handed mortgages out like candy. This made owning a home accessible to more people, but it also led to an alarming number of foreclosures. Today, more consumers than ever before are aware of the pitfalls of buying more home than they can afford.
The amount of home an individual, couple or family can afford depends on a number of factors. These include:
* Income – Most prospective home buyers are aware that their income plays a significant role in how much home … continue reading.
