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EveryIncome


Recent posts by EveryIncome

2 min read

Income-focused Investing for Beginners

By EveryIncome on 1/23/23 10:00 AM

Investing for the future can be daunting, and people have different priorities and financial strategies.

While some investors are attracted to taking more risks, especially when they’re young and have time to recover, many investors prefer an approach that yields peace of mind over wealth accumulation.

This approach, known as income-focused investing, emphasizes the virtue of stability and embraces a “slow and steady wins the race” ideology.

Topics: Financial Planning Planning in Advance Investing Financial Literacy
6 min read

The Right Way to Use a Credit Card in Place of an Emergency Fund

By EveryIncome on 1/20/23 10:00 AM

Emergencies aren’t fun and they are even worse if you don’t have an emergency fund saved. In today’s tough times, many people have either blown through their emergency fund or just weren’t able to save one. 

That doesn’t mean that emergencies won’t happen, though. So, what are you to do? 

You’ve heard credit card debt is bad and who wants to put themselves further into debt, right? While it’s not ideal, a credit card can bail you out in an emergency. 

Here’s what you need to know to keep it from putting you further into debt. 

Topics: Financial Planning Planning in Advance Financial Literacy Emergency Savings Savings Budgeting
6 min read

What is a Financing Contingency on a Purchase Contract?

By EveryIncome on 12/9/22 10:00 AM

When you sign a purchase contract, you’re signing a legally binding agreement. Most of the time you also put down earnest money. If you back out of the contract without any reason that’s legally backed, you lose your earnest money, which could be thousands of dollars.

Since buying a home is one of the largest purchases you’ll make, you want to enter the contract carefully. You sign a contract that doesn’t work in your favor, but you also don’t want to have so many contingencies that a seller won’t accept your bid.

One of the most popular contingencies you can add to a purchase contract is a financing contingency. Understanding what it is and how it works is important.

Topics: Financial Planning Financial Literacy Financial Security
7 min read

Your Complete Guide to Managing Medical Debt

By EveryIncome on 12/5/22 10:00 AM

The level of medical debt in America is shockingly high.

According to Debt.org, America’s debt-help organization, the average cost to an individual to stay in a hospital is $3,949 per day. And the average healthcare consumer pays more than $10,000 per year. As a nation, we spent $3.5 trillion in 2017 for health care.

The numbers paint a bleak picture. Americans pay more for health care than anyone in the world, and the impact of facing extreme medical debt can be financially devastating for individuals and families.

Yet despite what the numbers say, there are ways to lessen the financial burden of individual or family health care. Find out how in this guide to managing medical debt.

Topics: Health Care Health Savings Accounts Debt Budgeting
3 min read

Budgeting for a New Baby: Don’t Let Finances Keep You Up at Night

By EveryIncome on 12/2/22 10:00 AM

Whether you are deciding to have a child after years of planning or your new bundle of joy is an unexpected addition, having kids is expensive. From diapers and childcare to braces and college, parents sign themselves up for a continuous barrage of purchases, both large and small. Child-related expenses can add up on their own, but parents often have their own unrelated financial situations to consider. Budgeting and financial planning are critical for new or expecting parents, and these tips can help you start parenthood on firm financial footing.

Topics: Financial Planning Planning in Advance Lifestyle Planning Financial Literacy Budgeting
2 min read

Make More Money by Assessing Your Lifetime Income Potential

By EveryIncome on 11/28/22 10:00 AM

Virtually everyone would choose to make more money if given the opportunity, but choices that impact your lifetime income potential are rarely that clear-cut. A variety of factors influence the amount of money a person makes, and the choices they make throughout their lifetime help to dictate their ability to earn money. Taking a hard look at your lifetime income potential can help you make more money in the long term, allowing you to financially support your lifestyle and retire in comfort.

Topics: Retirement Planning Planning in Advance Lifestyle Planning Financial Literacy
6 min read

How Real Estate can be a Good Investment During Inflation

By EveryIncome on 11/25/22 10:00 AM

If you’re sadly looking at your portfolio and wondering what happened, you aren’t alone. Inflation has hurt a lot of portfolios because businesses are struggling to stay afloat. The higher the costs get, the harder it is for companies to be profitable, which hurts stock prices. 

If you’re only invested in the stock market, you could be doing yourself a disservice. During high inflationary times like now, it’s best to diversify your portfolio and the best way to do it is by investing in real estate. 

Topics: Financial Planning Investing Financial Literacy
2 min read

Retirement Planning and More: 3 Questions to Ask Your Aging Parents

By EveryIncome on 11/21/22 10:00 AM

As people get older, many must begin to rely more upon their children for care and support. Even the most independent retirees often chat with their kids to discuss finances, medical concerns, and housing plans for their golden years. Some people wait until they experience an accident or health scare to share their plans with loved ones, while others put off these conversations until it is too late.

People with aging parents (or retirees with adult children) should be proactive about discussing these difficult topics and life decisions. If you are an adult with aging parents, consider sitting down with them to discuss retirement planning, estate planning, and their wishes regarding housing and end-of-life care. 

Topics: Retirement Planning Financial Planning Planning in Advance Retirement Lifestyle Planning
3 min read

Don’t Let Impulse Buys Damage Your Financial Health: Use the 30-day Rule

By EveryIncome on 10/24/22 10:00 AM

Impulse buys happen to all of us. You’re in a store or on a shopping website, and you see something you really want to buy. It’s a new release of software you own, an expensive pair of shoes marked down to half price, or a miter saw that will work way better than the 15-year-old one you currently own.

You know you want it. Do you need it, though? You’ve already pledged to save money for an emergency fund. This purchase will make a dent in that fund.

Topics: Financial Planning Financial Wellness Financial Literacy Budgeting
8 min read

What You Need to Know About Retirement Plans

By EveryIncome on 10/21/22 10:00 AM

When you retire, do you plan on doing one or more of the following?

  • Travel the world and explore exotic locales
  • Spoil your grandchildren
  • Relax in your beach house or mountain cabin
  • Live comfortably until you pass away

Internally, we all have big dreams for that day when we finally step down from our job and step into a life of leisure in our golden years.

But those dreams will require money. Lots of money.

Topics: Retirement Planning Financial Planning Planning in Advance Retirement Financial Literacy Retirement Plans Individual Retirement Accounts

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