Kick-Start Your Savings

The saving rate in America this year has been between 5.8% and 5.1% thru June of 2022, however, it’s not where it needs to be. Start today and kick-start your savings. Saving for retirement and having adequate emergency savings for unexpected expenditures such as car repairs or medical expenses is a big part of being financially secure.  Make … Continue reading “Kick-Start Your Savings”

Teaching Children about Saving Money

Children are great learners. Maybe it’s because they have not yet developed the attitudes and behaviors that many of us have. They control or have some input, as consumers, on a lot of household spending. They do not need as much help learning to spend as they do learning how to save. Teaching children about … Continue reading “Teaching Children about Saving Money”

Four Strategies to Help You Start Saving

Pay off high-cost debt.  The best investment most borrowers can make is to pay off consumer debt with double-digit interest rates.  For example, if you have a $3,000 credit card balance at 19.8 percent, and you only pay the required minimum payment of 2 percent of the balance or $15 whichever is greater, it will take 39 years to pay off the loan. 

A Revolving Saving Account and Your Spending Plan

If you find that you are occasionally late on cable or phone bills, or your credit card balance is higher than you would like, try using a revolving savings account. The revolving savings account, although rarely discussed, is a useful money management tool. Revolving savings accounts are a great way to pay for irregular expenses … Continue reading “A Revolving Saving Account and Your Spending Plan”

Money is Good for Three Things

This spring as you are spending your money, keep in mindthe three things money is good for.  If I were to ask you what threethings money was good for what would you say? When I amteaching how to create a winning spendingplan, I always ask this question and get a lot of different answers.  Let … Continue reading “Money is Good for Three Things”