budget, financial freedom, financial management, saving money, savings
Saving money can be challenging, especially if you are a person with a limited income. However, starting to save early on can have a significant impact on your financial future. In this article, we will share seven practical tips that can help you develop a healthy saving culture and set you on the path to ...
Teaching your children the value of saving money can be challenging because saving is a tall task, even for adults. For instance, 63 percent of the working population in the United States live paycheck to paycheck, making it difficult for children to emulate the savings culture. Psychologically, most parents think that money matters and saving ...
Half of American adults started 2022 with a desire to boost their savings. That admirable intention could prove easier for those who developed good habits of saving when young. After all, it’s possible kids who get used to regularly depositing some allowance funds in their piggy bank won’t think twice about setting money aside when ...
Nancy was eight years old when she learned her little brother Tom was dying. He had a brain tumor and it was very hard on the family to watch him wilt like a flower day by day. Nancy’s parents sold their home and assets, borrowed money, and moved into a small apartment, and they still ...
There appears to be a disparity between most Millennials‘ (also known as Gen Y) ideal saving habits and what they’re actually doing. “Eight out of 10 Millennials said the Great Recession taught them they have to save ‘now’ to ‘survive’ economic problems down the road, and while 80 percent of Millennials knew they should be saving ...
A major concern of employees during the pandemic has been concerns about finances. The year 2020 has been an extremely hard year for working-class people. Many of them are out of jobs. Those who do have jobs have to face the prospect of wage cuts or decreased commissions. Even employees whose jobs have not been ...
According to the Student Loan Marketing Association, American families spent around US$26,226 on their kid’s college education in 2018-19. Around 79 percent of the parents in the study were willing to stretch themselves financially in order to fund the education of their children. Helping out with college “Few of today’s students can go to school ...
In a recent note to clients, financial services firm Raymond James accused the Millennial generation of being responsible for slowing economic growth. Younger people are apparently saving more money rather than spending, which ends up negatively affecting the performance of the economy. People born between 1981 and 1997 are usually considered Millennials. Higher savings “The ...
Saving as much as you can is critical if you plan on living a comfortable life in retirement. But once retired, the focus should be on minimizing monthly expenses to protect your retirement savings. “If you have expenses early on in retirement, large expenses, then your portfolio balance goes down just as fast as if ...
There are two kinds of people in the world — those who live their entire lives dreaming about being wealthy and those who put in the effort and do end up wealthy. If you want to build wealth, then you must stop daydreaming about it and start acting. Here are five strategies to build wealth ...