Americans spend a lot of money on takeout and lattes but just how much are they spending and what does that mean for their savings and retirement readiness? Americans spend an average of $2,944 each year on financial vices like takeout, drinks and lottery tickets, according to new research from Bankrate. For most individuals, dining [...]
If you’re thinking about prepaying your mortgage loan taxes, you should think again. This move can do more harm than good. Q: If my tax payment is included in my mortgage payment, am I allowed to go to the local tax office and prepay the taxes before the due date in order to reduce my [...]
The hidden costs of transitioning from renter to homeowner range from potential home repairs to remodeling and they add up quickly! Q: We are definitely ready to be done renting, as we need more space and a home that can accomodate dogs. We have one dog and and would love to add more. Factoring in [...]
Your love life might be hurting your wallet. Recent research found that if financial literacy levels are unequal between you and your partner, that disparity will only grow as you age, causing irreparable damage to your personal finances. Recent research from the University of Texas at Austin found that two people involved in a relationship [...]
If you’re looking to make a New Year’s resolution, here’s a good one to consider: Better managing your taxes. You should be receiving your tax paperwork soon, so do some preparation now to optimize your return and streamline the process. Here’s how you can start making this year’s New Year’s resolution—and stick to it: 1) [...]
“Spend less, save more.” It’s the third most popular new year’s resolution behind getting organized and losing weight, according to a Journal of Clinical Psychology study on resolutions. While I can’t help much with resolutions one and two (though it is helpful to apply the same principles to thinning your waistline as thinning your budget), the third one is [...]
According to a May 2013 Pew Research study, 40 percent of all households with children younger than 18 have mothers who are either the sole or primary source of income. The majority—63 percent—are single mothers, and 37 percent are married mothers with higher incomes than their husbands. With so many women in positions of financial [...]
Anyone preparing to go back to school has probably considered paying tuition, at least in part, with their retirement savings. After all, the money is just sitting there, waiting to be used. But that doesn’t necessarily mean you should use it to pay for your degree. “Don’t do it,” says Kathy Ruby, senior college financial [...]
There is an old saying that people spend more time planning for a vacation than they do for retirement. You can imagine that most people spend even less time with estate planning. Planning for death or incapacity might not be on your bucket list, but it must be considered, especially when it relates to your [...]
The Fed was right about some of its stimulus policies, basically. A new study shows that the Federal Reserve's bond-buying stimulus program, which has kept mortgage rates artificially low for the past four years, had a measurable, positive impact on American households and the economy. Of course, it didn't work in the exact way the [...]
