We all know that it is so important to save money. But what specific accounts do you need? How do you know where to save them? And how can you figure out how much to save? Here is my list of six savings accounts, that at a minimum, every family should have 1. An …
Budgeting with the Envelope System I first heard about the envelope system during graduate school. I was searching for better ways to manage our finances. We had just moved several states from home, and I was working as a graduate assistant. And my fiancé was working retail. We were broke. I was researching different …
When you tell someone you’re saving for a house, chances are you mean that you are putting away your hard earned money to be able to make a down payment on the home of your dreams. You’ve probably even set up a special house savings account. But once you’ve made the …
I was talking to a friend the other day who was in the process of purchasing a new car. She was very excited, but also worried about the impact the monthly payment would have on family’s bottom line. During our text exchange she made a comment about their “sinking fund” that they …
On April 15th, the first Economic Impact Payment checks were direct deposited into bank accounts. Since then, more direct deposits have been made and paper checks should start being mailed out in May 2020. These checks are part of the government’s relief efforts to help the economy as a result …
National Emergency Forbearance As part of the CARES Act signed on March 27, 2020, individuals with federally held student loans are eligible for certain relief. Interest rates on federal student loans have been temporarily reduced to 0%. Payments on federal student loans have also been automatically stopped from March 13, 2020 through …
I don’t know about you but as the quarantine in my state gets extended out, I am working hard to find ways to entertain myself. And often, I find myself browsing online retailers or clicking on Instagram ads “just to look” but then contemplating spending money (or actually doing it). Retail therapy, …
It definitely seems like the world has gone crazy in the last few weeks. Each day the news has new information about the deepening disaster we find ourselves in. From the spread of coronavirus to the drops in the stock market, there is enough out there to crank up anxiety for each …
We all have bills that we pay annually, semi-annually, quarterly, or on some other time schedule rather than monthly. And even though we know that the bill is due at a certain time, somehow, each time we are still surprised when suddenly the due date arrives. I call this “big bill sneak …
When starting to budget, most people write out their income sources and their monthly expenses, including bills, payments towards debt, and savings. And this is key to setting up a budget. But the timing is also important. Very few people take the time to think about what amount of each paycheck is allocated …
