During inflationary times, the value of money decreases, affecting your buying power. At the same time, the Federal Reserve raises rates to keep inflation in check, making it more expensive to borrow.
saving
Count the Cost of Convenience
Restaurant food delivery. Delis. Prepackaged grocery store meals. It’s easy to choose options that save time or reduce effort, especially when you’re in a rush or exhausted at the end of a long workday. But relying too much on conveniences may hurt your budget.
Here are three ways choosing convenience can affect your finances.
Teach Your Teens to Save
According to recent statistics, 73% of American teens said they’d like to know more about personal finances..1 And while many said they get money tips through a variety of sources – parents, school, social media – 75% didn’t feel confident about that knowledge. As a parent, you may feel the same way at times, trying to manage your money during the pandemic, now inflation. But helping your kids become savers is one of the best gifts you can give them. It’s the foundation of building lasting financial well-being.
Do’s and Don’ts to Manage Your Finances During a Recession
A recession can lead to economic setbacks for consumers, including a job loss or reduced income, higher prices on everyday goods and services and lower returns on investments. While most economists don’t think we’re in a recession yet,1 inflationary prices and rising interest rates have many worried about how best to manage their finances.
What to Do With an Inheritance
When you receive an inheritance, you may be wondering what to do next. No matter if it’s a modest or substantial amount, handling it responsibly is one way you can honor the family member who left it to you. Here are some ways to help you decide what to do.
Financial Moves After Pandemic Frugality
If you feel like the COVID-19 pandemic robbed you of your ability to live a normal life, you’re not alone. Restrictions on travel, entertainment and other social gatherings put an abrupt halt to daily activities around the globe.
10 Money Moves to Make in Your 70s
When you reach your 70s, life slows down a little. You may be planning to retire, or already living in retirement. Whatever your situation, there are ways to make your 70s more enjoyable and stress free, especially when it comes to managing your finances. If you still choose to work in some capacity, or simply want to enjoy your leisure time and hobbies, here are some tips to help you live the retirement you want.
Mobile Money Matters: Save More, Curb Spending
Mobile banking and shopping are on the rise, and now there are plenty of resources to help you become more mindful of your spending and saving habits, which can really help when you’re trying to create financial security.
Should You Contribute to an IRA?
Many Americans are lucky enough to have a retirement savings plan through their employers. If you don’t have that option, an Individual Retirement Account – or IRA – allows anyone with earned income to save for retirement. And if you’re self-employed, you can use an IRA to create your own retirement plan. In addition, there are special rules that may allow a stay-at-home spouse to contribute to one as well. Continue reading
Investing Moves to Prepare for Retirement and Reduce Your Income Tax Bill
When it comes to your investing strategy, there are ways you can save on what you owe Uncle Sam by regularly investing for your future.
