We all understand that budgeting is the key to saving more money and to having more money to spend. What many people don’t realize is how small budgeting blunders can snowball and become big issues over time. Avoiding most if not all of these budgeting mistakes can make a significant difference in your budgeting success.
Next week is national money smart week, a national effort to help raise financial literacy across the country. Research has proven that people are more financially secure when they develop a strong foundation of financial skills. Being money smart starts with foundational principles and builds upon this basic knowledge. No matter one’s stage in life, there is the opportunity to develop your financial IQ.
When planning for your future, don’t neglect to include insurance. Often this is the most ignored piece of a person’s financial portfolio. And yet, it has major significance. Insurance provides peace of mind and financial relief when you most need it.
Teaching kids about money may not come naturally to most. But like any skill in life, giving your kids hands on experience when they are young will pay dividends later (pun intended). Below you’ll find four simple ways to teach good money habits.
Numerous studies have proven that children who get a basic understanding of financial concepts early in life are much less likely to have financial difficulties later in life. It may be surprising how many opportunities that parents have to teach their children about financial matters early in life.
We have heard them our whole life and some even try to live by them, but do we really know what they mean? Understand how we can put some of these financial words of wisdom into practice can be very helpful for long term financial success.
A credit score is a concept that most consumers don’t fully understand and often don’t realize it is used more than just by financial institutions. Understanding what a credit score is and how it is used can be extremely important. It is also important to understand the difference between a credit report and a credit score.
It’s easy to get discouraged when we haven’t saved the amount we would like for retirement. However, it’s more beneficial to use that energy toward fixing the issue rather than dwelling on past mistakes. There are several ways you can catch up on your retirement savings and it’s never too late to begin.