More Americans have bank accounts than ever before but that doesn’t necessarily indicate a higher savings rate than in years past. In fact, household savings rates are hovering at only about 1/3 of the all-time high, which was reached during a period in the 1970s. Currently, household savings are just
Whether you’re in school, planning for college, or are a parent of a college-bound student, it’s important to understand your options for paying for college. The cost of higher education has been rising steadily, putting pressure on families who want to provide a college education and capitalize on the potential
Insurance has become an essential part of modern financial life. If you own a car or a motorcycle, your state requires that you carry insurance. Mortgage companies require homeowners insurance. Many landlords require renters insurance. Insurance is a necessary part of modern living but not everyone fully understands their policies
If you’ve ever watched investment shows on television, you’ve probably heard commentators mention fundamentals — but without ever explaining what stock fundamentals are and why they might matter to investors. Fundamentals are metrics for individual stocks that provide insight into the value of a stock. Among Warren Buffet’s famous investment
Carrying debt has become part of American life, although with consequences that may be hard to foresee. For most households, it’s difficult to remember a time when the family was debt-free. Ten years after the financial crisis brought panic and hardship to many families nationwide, US household debt is again
When it’s time to decide whether to conduct your financial business at a bank or a credit union, you’ll need to make some decisions about your priorities. Both banks and credit unions offer valuable services, but there are some significant advantages and disadvantages to handling your finances at each type
When it comes to designing a budget that works, simple is best. The idea of a 50/20/30 rule for budgeting your personal finances comes from Massachusetts Senator, Elizabeth Warren. She worked with her daughter, Amelia Warren Tyagi, to publish a book that outlines the system in 2005. “All Your Worth:
Everyone makes mistakes with their money from time to time. The faster you can change course, the better. Saving Forgetting to save for seasonal expenses Christmas and back-to-school time are notoriously expensive for families. While many people choose to charge the costs to their credit cards, others put aside a
When it’s time to decide whether to conduct your financial business at a bank or a credit union, you’ll need to make some decisions about your priorities. Both banks and credit unions offer valuable services, but there are some significant advantages and disadvantages to handling your finances at each type
Everyone with a social security number or tax identification number who has a history of financial activity has at least one credit report. The information in this file, maintained by various credit reporting agencies, gives businesses a snapshot of your financial activity. They use this information to verify your identity,
Living a debt-free life isn’t immediately within reach for many people. For those working to lower balances on credit cards and paying extra each month to shrink their loan balances, it can be intimidating to throw a lot of money at debt while ignoring opportunities to invest. Before considering the