Are you adding a child to your family? Congrats! Whether it be through birth or adoption, parenthood is very fulfilling for many people. Preparing to add a child to your family can be a daunting task. As with any major life change, if you have a better grasp of the financial requirements and tasks, you can be prepared and have a high chance of success. According to a 2017 study by the U.S. Department of Agriculture (USDA), it will cost approximately…
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Understanding behaviors that impact credit score is important According to a 2018 Credit Health survey by Discover, 85 percent of U.S. consumers are aware of their credit standing, a statistic that increased 12 percentage points over the previous year. Consumers across the U.S. seem to grasp the importance of the credit score – but may fall short of understanding the specific behaviors that affect it. A study from U.S. News & World Report on Americans’ understanding of credit scores suggests…
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The short answer? Yes. Although it’s tempting to believe you can run a business on your own, it’s usually a good idea to get professional help. Running your own business is challenging enough without trying to handle your company’s tax planning and reporting. Most business owners would agree that hiring an accountant is a good investment. Accountants can work with you and your financial officer or controller to keep your business financially sound. Some areas that accountants can help you…
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This infographic has 4 tips to help you clean up and unclutter your finances this Spring. Click the image below.
Are you planning for college? Getting a college degree is a great investment, but it does come at a significant cost. In addition to tuition, there are a few other expenses you’ll have to plan for. While it may seem daunting, don’t let the cost prevent you from getting a degree. By planning ahead and putting money into an education savings account as soon as you can, you’ll put yourself in a better position to handle your college expenses. Creating…
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Buying a vehicle is a big deal. For most people, your car is your 2nd-largest expense, after housing. With that in mind, Sondra & Emmi have a few tips for you before you hit the dealerships to find your next new-to-you car.
Keep your fingers on the pulse of your financial health. Serious sickness can strike both suddenly and unexpectedly. And its effects can be devastating to your emotional health, your financial resources, and your long-term plans. But if you’re prepared, it’s possible to weather an illness. How Illness Hits Remember that when you or someone you love gets sick or is injured seriously, the effects are emotional as well as financial. In fact, the two are often linked. Can you afford…
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Feeling financially unwell can affect more than just consumers’ wallets. In a study from the American Psychological Association, nearly 72 percent of American adults reported feeling stressed about money at least some of the time, and nearly a quarter said they experienced “extreme stress” about their financial situation in the past month. Stress at that level isn’t healthy. Chronic stress can cause headaches, weight gain, and even heart disease, according to the Mayo Clinic. The American Psychological Association also pointed…
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Does it feel like your paycheck is gone the moment you get it? Here’s how to break that vicious cycle and make your financial goals a reality. Are you stuck in the all-too-common habit of living paycheck to paycheck? You don’t need anyone to tell you that it’s a self-defeating cycle. You simply can’t get ahead this way. But escaping isn’t easy, especially if your paycheck is tight. Change involves not just the hard work of making new habits but,…
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A practical, workable budget should be one of the products of the collaborative conversations about money that you have with your partner as you plan how to manage your money. Starting Points Your budget is your blueprint for keeping cash flow positive, and for sticking to your saving goals. Even if you and your partner will be paying for expenses separately, it’s essential to have one overall household budget. That big picture is indispensable for having a good sense, based…
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