Average Monthly Expenses For One Person: A Breakdown

You’ve heard the mantra over and over: budget, budget, budget. This is money management rule number one as you graduate, start bringing home a paycheck and begin life in the real world. But if you’ve never had to pay for life’s essentials yourself, coming up with a realistic spending plan can feel like wandering in the dark. Continue reading
5 Common Budgeting Mistakes To Avoid

5 Common Budgeting Mistakes to Avoid

Budget Accurate budgeting starts by identifying every category of expense, no matter how small the annual expenditure on the item might be. Underestimating your expenses means that, at the end of the month, you'll have less money than projected in your budget, and you won't have the funds to put into savings or to pay down debt. It's not a challenge to include the obvious monthly obligations,... Continue reading

How to Develop a Personal Budget to Buy a Car

How to Develop a Personal Budget to Buy a Car Before you head down to the dealership to check out the latest models, it's important to set a personal budget so you know how much you can afford. "When planning to buy a car (or make any major purchase) keep in mind the purpose of what you're buying," advises Jim Blankenship, a Certified Financial Planner practicing in New Berlin, Illinois. Buying... Continue reading

How to Rebound from a Poor Credit Score

Fair Isaac Corporation provides consumers with FICO scores to gauge their creditworthiness. Scores range from 300 to 850; a "good" score, though not rigorously defined, falls in the mid-700 range. You can take steps to improve your score even if you had credit problems in the past. Take control of your spending Establish a budget and stick to it. This is the first step recommended by financial... Continue reading

Debunking Common Budgeting Tips

Budgeting comes in many shapes, sizes and philosophies, each with the purpose of getting finances on track. From skipping that daily cup of coffee to stuffing cash under your mattress, the personal finance world is rife with ideas, tips, suggestions and pearls of wisdom, many guaranteeing success if you follow just a few simple steps. There's a wealth of good and bad advice out there, some of it... Continue reading

Tips to Live Within Your Means

Date: October 24, 2016 Budgets get a bad rap. Like diets, they seem designed to prevent you from indulging in life's pleasures, but if you find yourself constantly outspending your income and you fear that credit card debt is piling up, it's time to get comfortable with the idea of creating a budget.   The Benefits of Budgeting Think of budgeting as a way to take control of your money. It's... Continue reading
How to Budget Your Money With Elizabeth Warren's 50-20-30 Rule

How to Budget Your Money With Elizabeth Warren's 50-20-30 Rule

What's the best way to slice the money pie? It's a question many people struggle with, and there are lots of options are out there for how to make the cut. One formula that’s on the upswing is the 50-20-30 rule, one of the more workable plans for managing your money. Continue reading

Budgeting After an Unexpected Loss of Income

Panic is a natural reaction when your income ceases or drops drastically, through illness, job termination or any other event that results in less income. Responding quickly is not only essential to make the most of your remaining resources, but it also gives back control at a time when you may feel you have none. A focused, methodical budget plan takes the pressure off as you get over the... Continue reading

Surprising Perks to Tracking Your Finances

Closely tracking your income and spending has some obvious benefits when it comes to meeting your financial obligations and living within your means. In addition to making sure there's enough money to cover essential and discretionary spending, there are other surprising perks that reward the time and effort you put into tackling your personal finances. Continue reading

How to Trick Yourself into Saving Money

If you find it difficult to save money, you're certainly not alone. Only 48 percent of Americans have more than $1,000 in their savings accounts, and one in five Americans don't even have a savings account. Here are a few ways to trick yourself into the healthy habit of saving. Continue reading