Budget Spending Finance

What Happened to Your Money?

If you don't know what happened to your money during the past year, it's time to find out. December and January are the perfect months to look back at what you earned, saved, and spent, as W-2s, account statements, and other year-end financial summaries roll in. How much have you saved? If you resolved last year to save more or you set a specific financial goal (for example, saving 15% of your income for retirement), did you accomplish your objective? Start by taking a look at your account … [Read more...]

What’s so great about a college net price calculator?

If you're saving for a child's college education, at some point you'll want to familiarize yourself with a college net price calculator, which is an invaluable tool for estimating financial aid and measuring a college's affordability. Available on every college website, a net price calculator gives families an estimate of how much grant aid a student might expect at a particular college based on his or her personal financial and academic profile and the college's specific criteria for awarding … [Read more...]

The Financial Implications of a Chronic Illness

“There's no such thing as a one-size-fits-all financial plan for someone with a chronic illness. Every condition is different, so your plan must be tailored to your needs and challenges, and reviewed periodically. All investing involves risk, including the possible loss of principal, and there is no guarantee that any investment strategy will be successful. The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance … [Read more...]

How can I safely shop online this holiday season?

Shopping online is especially popular during the holiday season, when many people prefer to avoid the crowds and purchase gifts with a few clicks of a mouse. However, with this convenience comes the danger of having your personal and financial information stolen by computer hackers. Before you click, you might consider the following tips for a safer online shopping experience. Pay by credit instead of debit. Credit card payments can be withheld if there is a dispute, but … [Read more...]

Shopping for a New or Used Car

Should you buy a brand-new car or a used one? Consider these factors. It's time to replace your current car. But should you buy a new car or a used one? Consider the following advantages and disadvantages of each as you shop around for the vehicle that's right for you. Buying a new car Advantages. That new-car smell, a clean interior, and the latest technology and safety features...there's no denying the appeal of buying a new car. Aesthetics aside, there is an … [Read more...]

When should I submit college financial aid forms?

For the 2019-2020 school year, the federal government's financial aid form, the FAFSA, can be filed as early as October 1, 2018. It relies on current asset information and two-year-old income information from your 2017 tax return, which means you'll have the income data you need when you sit down to complete the form. This is a relatively new process. A few years ago, parents had to wait until after January 1 to file the FAFSA and use tax data for the year that had just ended, which forced them … [Read more...]

Is buying an extended warranty worth it?

If you've ever purchased an electronic device, a major appliance, or a vehicle, chances are you've been asked if you also wanted to purchase an extended warranty or service contract. Extended warranties are offered by retailers for an additional cost to customers and provide repair or product maintenance for a specific period of time. Selling extended warranties may be quite profitable for retailers. It's an easy way for them to make money because they get to keep a percentage of what they … [Read more...]

What to Do If Your Term Life Insurance Policy Is About to Expire

One advantage of term life insurance is that it is generally the most cost-effective way to achieve the maximum life insurance protection you can afford. Many people first purchase term life insurance to protect their family's financial interests after a significant life event, such as getting married or the birth of a child. You may have done the same for your family when you purchased your policy years ago. And chances are, other than paying the premiums, you probably haven't … [Read more...]

Have You Made Any of These Financial Mistakes?

As people move through different stages of life, there are new financial opportunities — and potential pitfalls — around every corner. Have you made any of these mistakes? Your 50s and 60s Raiding your home equity or retirement funds.It goes without saying that doing so will prolong your debt and/or reduce your nest egg. Not quantifying your expected retirement income.As you near retirement, you should know how much money you (and your spouse, if applicable) can … [Read more...]

Quiz: Financial Facts That Might Surprise You

If you have a penchant for financial trivia, put your knowledge to the test by taking this short quiz. Perhaps some of the answers to these questions will surprise you. Questions 1. The first organized stock market in New York was founded on Wall Street under what kind of tree? a. Maple b. Linden c. Buttonwood d. Elm 2. Who invented the 401(k)? a. Congress b. Ted Benna c. The IRS d. Juanita Kreps 3. Which three U.S. bills together account for 81% of the paper … [Read more...]