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5 min read

6 Reasons You Need an Emergency Fund in Retirement

By Carefull on 10/31/22 10:00 AM

An emergency fund—money dedicated to unexpected expenses—should be part of every household budget. When things go south, you won’t have to go into debt to fix them. While the fund might not be enough to completely cover truly serious emergencies, it will at least reduce the amount you have to finance.

During your working years, an emergency fund is a big help. During retirement, it’s crucial to your budget. After all, you’re living on a fixed income. You can’t take on a little overtime to help pay for that transmission repair.

Here are six reasons why an emergency fund is essential.

Topics: Planning in Advance Lifestyle Planning Financial Literacy Financial Security Budgeting
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
6 min read

The Top Ways to Hurt Your Credit Score

By EveryIncome on 9/23/22 10:00 AM

Your credit score is one of the most important factors in your personal finance life. A bad credit score can make it impossible to get approved for a loan, get good insurance rates, or even get a job sometimes.

Knowing what can hurt your credit score can help you keep your credit score in good standing. 

Topics: Debt Savings Budgeting
2 min read

How to Maximize Your Savings at Your First Job

By NAIFA on 8/29/22 10:00 AM

When you land your first job, it's important to learn how to manage your income. Now is the perfect time to establish healthy spending and saving habits. Read on for tips to manage your finances with your new paycheck.

Topics: Retirement Planning Planning in Advance Lifestyle Planning Emergency Savings Savings Budgeting
2 min read

5 More Tips to Manage Your Finances During a Recession

By NAIFA on 8/26/22 10:00 AM

Recessions are never easy. Whether you're becoming aware now or already following the news of a possible economic crisis, it's good to have a mitigation plan for when it happens. Learn how to prepare your finances so they can carry you through a recession and in the aftermath with these tips. 

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

5 Tips to Manage Your Finances During a Recession

By NAIFA on 8/19/22 10:00 AM

Recessions affect every part of life. The cost of goods and services goes up, borrowing money gets more expensive, and businesses suffer. During a recession, you may need to adjust your spending habits to stay financially secure. Read on for tips to mindfully manage your finances during periods of economic uncertainty.

Topics: Financial Planning Planning in Advance Financial Literacy Financial Security Budgeting
5 min read

How to Handle Inflation

By EveryIncome on 8/8/22 10:00 AM

A majority of consumers today are suffering from the effects of inflation. We’re seeing inflationary rates that are akin to what happened in the 80s, so we’re talking decades ago. At the rate inflation is increasing lately, most people can’t afford what they’re used to and it’s causing financial strain on families everywhere. 

Topics: Planning in Advance Lifestyle Planning Planning Consequences Investing Budgeting
2 min read

Planning Ahead: How to Cut Expenses and Build Your Savings

By EveryIncome on 8/5/22 10:00 AM

Many people have specific financial goals (e.g., filling a rainy-day fund, buying a house, paying down debt, or starting to invest), and most of these goals involve saving money. If you are struggling to put money away for your financial plans, reducing your spending may be necessary. Consider these tips to help you cut expenses and build your savings to facilitate your future financial plans.

Topics: Financial Planning Lifestyle Planning Financial Wellness Financial Literacy Financial Security Budgeting
6 min read

3 Ways to Budget

By EveryIncome on 8/1/22 10:00 AM

Do you want to get on a budget but don’t know how? You look at your income and expenses and your head just spins. How do you know where to budget and how?

Topics: Financial Planning Lifestyle Planning Financial Literacy Budgeting
4 min read

A Couple’s Guide to Building a Budget — Without Killing Each Other

By EveryIncome on 7/25/22 10:00 AM

Money can be a big challenge for relationships, especially for couples on a budget with limited income or a lot of debt. Overwhelming debt, lack of communication, and financial secrets can lead to arguments, guilt, finger-pointing, and resentment. Here are the steps to help.

Understanding what a budget is, what it can do, and how to build one together can help couples address problems in a healthy, positive way as they work toward mutual financial goals.

A budget is simply a roadmap for dividing household income into expenses (including mortgage, groceries, and discretionary spending). Building a budget together means agreeing on the roadmap and helping each other stick to it.

Topics: Financial Planning Benefits of a Financial Advisor Financial Wellness Financial Literacy Financial Security Budgeting

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