Category: budgeting

When the Ship is Sinking, Get Everybody In the Lifeboat

March 30, 2023
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Dear Mary: My wife and I made a terrible mistake and bought a house that I don’t think we can afford. We dumped all of our money from the sale of our last home into it and now we have run out of money. It is not even close to being done. My wife is…

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Get Your Spending Under Control

March 29, 2023
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By Janet Bodnar From Kiplinger’s Personal Finance Maybe it’s a New Year’s resolution, high inflation or some other trigger that has made you determined to get your spending under control. Whatever the motivator, here are some tips on getting on top of your spending and building a savings stash. Know your money personality. Figure out…

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Should You Tap Your 401(k) When Urgent Financial Needs Arise?

March 29, 2023
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Shortly after COVID-19 started and many people lost their jobs, the government permitted penalty-free 401(k) withdrawals for people short on cash. There was a limit to the withdrawal of $100,000, which had to be paid back within three years—if it was to remain penalty-free. Many people took advantage of the opportunity, but hindsight asks whether…

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FICO Changes That Could Impact Credit Availability

March 28, 2023
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In 1989, the Fair, Isaac, and Company (FICO) established FICO scores. It provided an industry standard for scoring creditworthiness. It was fair for both consumers and lenders. Before FICO, there were many different scores with various calculating methods, sometimes including gender or political affiliation. Changes now are coming to the way FICO is calculated. You…

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How to Save Money on Auto Insurance

March 23, 2023
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By David Rodeck From Kiplinger’s Personal Finance Shopping for new auto insurance? Here are ways to save money. Start by asking about discounts. Bundling multiple policies with one insurer can lead to savings on all your premiums. Discounts for setting up electronic payments, paying your entire premium in full, and going several years without a…

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Will ChatGPT Impact Finance?

March 23, 2023
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Artificial intelligence (AI) isn’t new, but it is evolving. The latest ChatGPT, or Chat-generated pre-trained transformer, is the newest AI to hit the headlines. Its developers claim it has numerous applications in everyday life. One such application is finance. Specifically, it could possibly be used for portfolio-allocation suggestions. But what are the strengths and limitations…

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Investing for Longevity

March 21, 2023
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By Sandra Block From Kiplinger’s Personal Finance As you approach retirement, you may be tempted to shift most of your savings to more-conservative assets. That temptation may be particularly strong in today’s volatile market. But this strategy could increase the risk that you’ll outlive your money. If you retire in your early sixties, you may…

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Raising Your Credit Score Can Save Thousands on a Mortgage

March 20, 2023
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Before you buy a home and get a mortgage, there are ways to ensure you get a better deal from a lender. The difference can save you many thousands of dollars throughout your mortgage. Taking time to raise your credit score beforehand can enable you to get the better terms you want. The Savings Potential…

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Family Finances: Get a Handle on Subscription Costs

March 20, 2023
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By Emma Patch From Kiplinger’s Personal Finance We’re all creatures of habit, so much so that research shows nearly half of everything we do in a day is habitual. Subscriptions cater to that behavior, seamlessly charging us monthly or annually for an ongoing product or service. Most likely you’re no stranger to the subscription model….

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Job Plus a Side Gig? Avoid These Mistakes

March 17, 2023
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At the beginning of the year, many people have their eyes set on goals. Some of these goals may include increasing your income, starting a dream business, or both if you’re reaching for the stars. Before you get your hands dirty in the sometimes chaotic combination of formal employment and entrepreneurship, here are a few…

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