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

Children and Finance: The Pros and Cons of Giving Allowance

Date: May 20, 2016 Your children learn early that things have a monetary value. Giving them allowances is a common way to help kids learn money skills, but some children respond better than others. Matching a successful allowance strategy to fit your child can be a challenge. To Give an Allowance or Not Giving your child an allowance permits the opportunity to: Practice basic math skills. Learn... Continue reading

Second-Marriage Money Mistakes

Date: May 15, 2017 Money problems are a major contributing factor in many divorces. With second marriages, money issues can be even more problematic, as there are often leftover financial obligations from your first marriage. Discussing finances upfront can help prevent money from becoming a huge issue in second marriages. Failing to Update Beneficiaries Legal issues regarding finances can get... Continue reading

Does Merging Finances Include Debt?

=   "Merging finances" is one of those generic terms that mean different things to different people. Does it mean merging debt? It can, but no law says it has to. In fact, experts recommend that you think long and hard before you take on the separate debt of your partner or spouse. Money Issues Can Cause Stress in Relationships If you're concerned about money and how your finances will work when... Continue reading

Is A Reverse Mortgage a Good Idea for Retirement Income?

You can use the "equity" or value of your home to build wealth, generate income or protect your nest egg by renting, selling or refinancing your residence. But, these options usually require you either to move out or increase your loan payments. With a reverse mortgage, you keep your home, forgo mortgage payments and even take out cash, but you'll have to wait until you're at least 62 to make... Continue reading

Financial Planning Post-Divorce

One of the important gains in every divorce settlement is the right to manage your own finances. If you were involved in organizing the budget during your marriage, you may feel relief at flying solo financially; if you were not, you may feel fear and insecurity. Either way, taking total charge of your financial future is both challenging and empowering. Here are a few tips to get you started... Continue reading

How to Track Your Charitable Donations Just in Time for Tax Day

April 15, 2016 Thanks to a holiday falling on the same day as Tax Day, the date has been moved to April 18th this year! So, if you’re still working on finalizing your taxes, don’t forget about the charitable donations you made this year. If you donated to any causes close to your heart this year, take a look at some of these tips that can help you easily track your donations, so you can be... Continue reading

Four Steps to Improve Your Financial Literacy

Date: April 27, 2016 April is Financial Literacy Month and becoming financially literate doesn't necessarily mean expanding your vocabulary or picking up a degree in economics. What it means is that you have a firm grasp of your personal finances — where they are and where you want them to be. Since most people unfortunately don’t learn about financial literacy in school, we’ve compiled the below... Continue reading

Are Fees Eating Up Your Retirement Savings?

Date: September 4, 2017 Are Fees Eating Up Your Retirement Savings? Saving for retirement is a great first step in preparing for your golden years. While you probably check the returns in your retirement investment accounts periodically, you're likely not as keen on checking the fees. Though you usually won't write checks to pay for those retirement account fees, they will be paid out of your... Continue reading

How Much Life Insurance Is Enough?

When it comes to life insurance, there's no such thing as one-size-fits-all. At first glance, $100,000 may seem like a lot of coverage. But if you have a growing family with a middle-class income and average household debts, that amount may only see your family through a few months of living expenses should something happen to you. Follow these six steps to calculate the right amount of life... Continue reading