by Karla Dennis | Nov 15, 2015 | Blog
Millennials are less interested in money and finances than any previous generation. Even so, it’s still important for Millennials to take steps to avoid the common financial mistakes committed by younger folks. Placing too much emphasis on financial wealth can be a shallow way to live, but having financial challenges isn’t a lot of fun either. Avoid the common mistakes of Millennials that can derail your financial future: Waiting to get started saving. Sure, you want a new car or a big screen television instead. However, if you take the time to do the math, it’s obvious that the most important part of saving is getting started now. Every seven years that you delay cuts your retirement nest egg in half. Failing to take advantage of full matching in your 401(k). Your employer may give you free money for your 401(k). It’s crazy not to take full advantage of this generous offer. Get in the habit of saving by contributing to your 401(k) as soon as possible. Underestimating the value of a budget. No one enjoys making and sticking to a budget. But what happens when you don’t have a budget? You do whatever your emotions of the moment dictate. A budget keeps you grounded and on track. You’ll spend more than you should, and save less, if you don’t have a sensible budget in place. Ignoring the importance of an emergency fund. A single, unforeseen, financial mishap can derail the best of financial plans. For most Millennials, this will probably result from a major car repair or medical bill. Even with health insurance, the deductible can set you...
by Karla Dennis | Nov 3, 2015 | Blog
Getting married is a happy and exciting time. One of the issues that can quickly put a damper on the positive energy, though, is money. Financial issues can create a lot of stress and even animosity. Ideally, you’ve already had a lot of communication regarding your finances. If you haven’t, a little prevention isn’t a bad idea. It can be much nicer to discuss the topic of money before it becomes necessary and tensions are high. Be proactive. Heed these helpful money tips for newlyweds: read...
by Karla Dennis | Oct 25, 2015 | Blog
It may seem like it is you against the world sometimes when it comes to dealing with personal finance. With the vast amount of information available online, it can be nearly overwhelming at first. This article will provide much helpful information for you to get started on the right path. ind a financial mentor. This person can be a relative, a co-worker or your boss. Find someone that you can look up to who handles money the way you would like to. Try to find out how that person perceives money and what kinds of expenditures he or she makes. This can help give you new ideas for yourself. Put timers on your electrical lights. It is amazing how much leaving one or two unneeded lights burning in the house will inflate your electrical bill over time. Children, in particular, have problems remembering to turn lights off. In rooms like the bathroom, where time spent there is minimal, timers can really pay off. read...
by Karla Dennis | Oct 23, 2015 | Blog
If you know a certain amount about credit cards and how they can relate to your finances, you might just be looking to further expand your knowledge. You picked the right article, because this credit card information has some great information that can show you how to make credit cards work for you. hen it comes to credit cards, always try to spend no more than you can pay off at the end of each billing cycle. By doing this, you can help to avoid high interest rates, late fees and other such financial pitfalls. This is also a great way to keep your credit score high. Compare rewards programs before you choose a credit card company. If you plan to use your credit card for a large percentage of your purchases, a rewards program can save you a great deal of money. Every rewards programs is different, it would be best, to research each one before you make a decision. read...
by Karla Dennis | Oct 14, 2015 | Blog
Social Security may be an important part of your retirement future. It’s crucial to avoid common mistakes that can cost you money during retirement. Consider these strategies to avoid common mistakes: 1. Avoid claiming benefits too early. If you have other income coming in and can afford to wait, then you may want delay claiming your benefits. Your benefits grow every year you wait to claim them. * By claiming benefits early, you reduce how much money you will receive for the rest of your retirement. * However, it’s important to note that sometimes claiming early benefits can be more advantageous than waiting. For example, if you’re expecting a shorter lifespan, you might want to start receiving your Social Security earnings early. Also, if you have children under 18 years old when you’re 62, you may get more by claiming early. read...
