Even though summer doesn’t officially start for a couple of more weeks, most kids are out of school, the weather is warmer and most of us are in full summer mode. Summer, unfortunately, is a time that many can make blunders that can turn their financial situation upside down.
Developing your estate plan doesn’t have to be complicated and even though there can be several parts of your plan, a basic plan will start with five key elements. It is important to have an estate plan and to regularly review and update your plan as your personal situation changes. Your estate plan is really the only way for you to be certain that your wishes are followed if something unfortunate happens to you.
Often people ask: “What is the path to have financial success?” The answer is simple and yet not easy to achieve. Financial success can only come by using essential money habits every day. These money habits guide your decision making, spending, and savings which ultimately determines your financial success or lack thereof. There is not another practical path to success.
Paying for college with the 529 college savings plan may be one of the best ways to help you save money for your children’s education. There are many different types of 529 plans and most states offer their own version. Generally though, most have very similar characteristics when it comes to the basics.
Everyone has the dream of retiring early and living a life of leisure. Fortunately, it can be a reality for many if they make the right money decisions during their lifetime. The steps to follow can be really easy too.
May is the time that many young adults are ready to venture into the world armed with a degree and hopefully soon a great job. With all of the excitement, financial matters are often forgotten which can be detrimental to their long term success. This is a critical time financially speaking for young adults.
Being good at budgeting doesn’t have to be difficult, especially if you plan for the unexpected. This added step of protection is often the difference between being successful with your budget or having your budget blown up. The key is understanding the expenses that can repeated blow up your budget.
Having a successful financial future is as much about avoiding mistakes as it is always making the right financial moves. The following money mistakes are important to avoid because they can spiral out of control quickly. Knowing the mistakes to avoid is very important financial knowledge to grasp.