Post Brexit: What to Consider Before Investing in the Stock Market

Date: June 30, 2016 If you've put a little money aside and you're looking to make it grow, your thoughts might turn to investing in the stock market. Maybe you woke up one morning realizing that retirement is a bit closer than you thought so you want to bulk up your savings. Maybe you'd just like to have a little larger nest egg than you currently enjoy. Even if last week's Brexit vote may make... 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

Budgeting: Save Money on Food

According to the U.S. Department of Labor, the average American family of four spends $8,513 per year on groceries—that's $709 per month! And many of us blow our budgets further on restaurant meals. Learn to cook Eating out is a huge budget-buster. Even seemingly inexpensive fast food can add up quickly. Cooking your own meals could save you a small fortune on restaurants and groceries (you'll... Continue reading

How to Successfully Save Money

Saving money is on many people's to-do list, but it can easily get pushed down the priority list. No matter what you want to save for, whether it's a new car, home down payment, or going back to school, making a plan and sticking to it is critical if you want to meet your goals. Setting Savings Goals No matter what you're saving money for, the first step toward success is setting a goal... Continue reading
How to Track a Household Budget

How to Track A Household Budget

Emergency Savings Maryland-based financial adviser Lamont Corprew, a Certified Public Accountant, is an advocate for having an household budget emergency fund. "Make saving for an emergency a a priority, because you never know when you'll need it," Corprew notes. "But keep it separate from your regular savings account. Commingling your emergency fund and other savings can be a spending temptation... Continue reading

Financing Your Wheels: How Much Should I Budget for a Down Payment on a Car?

Financing Your Wheels: How Much Should I Budget for a Down Payment on a Car? A new car will lose a huge amount of its value the minute you drive it off of the sales lot. Typically, depreciation in the first year is between 20 and 25 percent, while the average buyer makes a down payment of only 5 percent. That amount is often not enough to cover the sales tax and other fees, let alone the vehicle'... Continue reading

How To Save Smarter Without Working Harder

While it would be nice, we don't all have trust funds, a professional golf swing or the stage presence of Bruce Springsteen to bank our retirements on. It's not that the rich, talented and famous don't work, it's just that they don't have to work to retire. Most people must work to save, whether for retirement or another goal. Even if you don't want to work harder at your current job or take on... Continue reading
Discretionary spending

Household Budget Checklist: Determining Necessary Expenses

Discretionary Spending The items that you don’t really need fall into the category of discretionary spending. Sometimes, the line separating necessary and discretionary spending can become blurred. Is going to the movies a treat or absolutely required to maintain your mental health? You confront these questions when you put together your household budget. Start with the items that you cannot live... Continue reading

Stop Living Paycheck to Paycheck

In this economic climate, more of us are struggling to pay the bills, buy groceries and fill up our gas tanks. Paying off the mortgage, putting the kids through college without financial aid, and amassing $1 million for retirement seem out of the question now. Just having cash left over at the end of the month would be nice. Accumulating a nest egg—or even saving for a rainy day —gets put on the... Continue reading
Woman at the ATM learning budgeting

What Do You Learn From Budgeting?

Though the thought of actually making a budget might sound as appealing as having a ball and chain attached to your wallet, it can actually be quite a liberating experience. According to Erin Baehr, a certified financial planner practicing in Stroudsburg, Pennsylvania, and Chester, New Jersey, "Many people think of budgets as something negative; something constraining or confining. But actually,... Continue reading