Tag: money

Sep112017 by adminNo Comments

These books could be game changers for your money

How to talk to your kids about moneyThe crisp fall air may put you in mind of getting back to the budget after a summer slide. No better time to hit the books. There is no end to niche money books out there specializing in everything from student debt to retirement saving to investing. But for those who are hankering for a big picture view on your money, here are our picks for personal finance life changers: "The Total Money Makeover" by Dave Ramsey Once you start talking to people who have "gotten on track" with their money, it's amazing to hear how often people talk about the impact "The Total Money Makeover" had on their lives. This action-oriented bootcamp for your financial life isn't so much aimed at your money as it is at your behaviors involving money. Ramsey, a folksy radio hos

Aug312017 by adminNo Comments

IRS makes it easier for Harvey victims to tap 401(k) money for rebuilding

Finance

While taking money early from a workplace retirement plan is generally a no-no, victims of Hurricane Harvey now have that option.The Internal Revenue Service announced Wednesday that 401(k) plans and similar plans may permit participants to take loans against their accounts or make hardship withdrawals if they or family members have been affected by the flooding and destruction from Hurricane Harvey.This means that even if you live outside the disaster area, you can tap your own 401(k) plan to assist a family member in the affected areas. The normal 10 percent early withdrawal penalty for those under age 59½ (with a few exceptions) will still apply and you'll owe income taxes on the money as well.And typically, hardship distributions also come with a six-month ban on new contributions. The

Aug162017 by adminNo Comments

10 money moves to make in your 20s

Finance

Money guide for MillennialsYou may not think of your 20s as a time to get serious about finances. After all, your 20s are when you're first starting out in your career, and you probably won't be earning nearly the same salary as when you're older. But believe it or not, your 20s are actually the perfect time to establish smart money-related practices. If you're in your 20s, here are some specific moves you'll definitely want to make. 1. Create a budget Budgeting is one of the easiest ways to keep track of your spending and ensure that you're not going overboard in any particular category. If you really want to get your finances on the right track, map out a budget and review it every few months to make sure it's something you can actually stick to. If not, you may need to look at cutting s...

Aug152017 by adminNo Comments

3 ways bots can boost your money

Finance

Money guide for MillennialsThere is no shortage of finance apps that purport to fast-track your money life. But do they save you money? Are they worth the trouble? We've waded into the fields of fintech to find three ways these programs will boost your finances. 1. Discover better discounts and perks Unless you enjoy continually comparison shopping at multiple outlets for every purchase, you may as well let a bot do it. As you buy things, these apps work in the background of your purchases to ensure you don't overpay, miss out on an already earned benefit or buy something that's cheaper elsewhere. Sift works with your credit card and lets you know of a benefit when you buy something. For example, your cards may offer trip cancellation protection, flight delay insurance, car rental insuran...

Aug142017 by adminNo Comments

How to save enough money for a down payment on a home

Finance

Money guide for MillennialsSaving up a down payment to buy your first house can seem a pretty daunting task. If you've never had more than a few thousand dollars in the bank at any given time, then setting aside five figures or more may seem impossible. However, getting a down payment together is not as difficult as you may think -- if you go about it the right way. Figure out how much house you can afford The first step in saving up your down payment is to pin down the amount you can responsibly spend on a house. Lenders will typically limit your mortgage amount so that your monthly housing payments (including property taxes and insurance) will not exceed 28% of your pre-tax monthly income. But if your income is a bit iffy -- for example, if your pay fluctuates seasonally or you work in ...