In times of crisis, you don’t want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you’re protected when a financial emergency arises. One way to accomplish this is by setting up a cash reserve, a pool of readily available funds that can help you
Your teen is becoming more independent, but still needs plenty of advice from you. With more money to spend and more opportunities to spend it, your teen can easily get into financial trouble. So before money burns a hole in your child’s pocket, teach him or her a few financial lessons. With your help, your
You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2015 ($6,500 if you were age 50 by December 31, 2015). For most taxpayers, the contribution deadline for 2015 is April 18, 2016 (April 19, 2016, if you live in Maine or Massachusetts). There’s still time to make
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If you have a lot of debt, you’re not alone. Today, more and more Americans are burdened with credit card and loan payments. So whether you are trying to improve your money management, having difficulty making ends meet, want to lower your monthly loan payments, or just can’t seem to keep up with all of
The holidays are a popular time for charitable donations. With so many charities to choose from, it’s more important than ever to ensure that your donation is well spent. Here are six tips that can help you make smart and effective charitable donations. 1. Choose your charities wisely Choosing worthy organizations that support the causes
Generally, you can join any state’s 529 savings plan. Why might you want to shop around? Some plans may be more appealing, for a variety of reasons. Here’s one way to approach this question. First, find out if your state offers any state tax benefits for 529 contributions or withdrawals, and whether those benefits are
Major considerations How much will you need in retirement? When do you plan to retire? What kind of lifestyle do you desire? How much do you have right now that you can count on for your retirement? What about Social Security; do you know what kind of benefits you can expect? These are all factors
The Federal Open Market Committee (FOMC) adjusts interest rates to help keep inflation near a 2% target. The FOMC’s preferred measure of inflation is the Price Index for Personal Consumption Expenditures (PCE), primarily because it covers a broad range of prices and picks up shifts in consumer behavior. The Fed also focuses on core inflation
Being able to send your child to college is near the top of the wish list for most parents. A college education can open doors to many opportunities, and is increasingly necessary in today’s economy. But that diploma doesn’t come cheap. Unless you are very well off financially, it’s difficult to sit on the sidelines
