What is a budget and what can it be used for? A budget is a forecast of income and expenditures. Merriam-Webster defines a budget as “a statement of the financial position of an administration for a definite period of time based on estimates of expenditures during the period and proposals for financing them.” They go […]
Continue ReadingEducation Category: Budgeting & Savings
Which college savings plan is right for you?
All parents worry about the future for their children. That’s a given fact! While it’s commonly said that for most people a home purchase is the largest investment they’ll ever make, a parent’s investment in their child often exceeds the cost and financial complexity of a real estate transaction. Of all the expenses parents face […]
Continue ReadingOptions Besides Cable or Satellite TV
Cable prices are getting pretty ridiculous these days. It’s not only the cable packages but the pay-per-view movies as well. Satellite services can be just as expensive as cable television. Many people are looking for other options because their monthly bills are getting too costly. If you’re on a budget then your cable and telephone bills […]
Continue ReadingTeaching Teens to Save Money Before College
Before your teenager leaves for college, it’s important to teach them valuable money skills so that they learn not only how to take care of themselves, but also how to stay out of debt. If you teach your teen how to make smart money choices now, it can have a lasting impression on their financial […]
Continue ReadingTeaching Children About Money
When it comes to teaching your children about money, think of it as teaching them survival skills. If you do not teach them about money–budgeting, saving, shopping and credit–it will be left to trial and error, which could prove costly and time consuming. Since only about 10% of young people learn personal money management in […]
Continue ReadingSurviving Unemployment
Worrying about money is just one of the many stresses involved in losing a job – but it is a major one. You’ll want to halt all unnecessary spending. Go into ‘crisis mode’ and get real conservative with your spending. Finding new employment may take longer than you expect, and you’ll need to deal with […]
Continue ReadingEmergency Savings Fund
Many people fail to prepare for the future. Financial security is important for every person. An emergency savings fund can help individuals look forward to the future without worrying about being unprepared for unexpected expenses. Having an emergency savings fund is critical to the financial security of your family. Learning more about this type of […]
Continue ReadingDifferences Between a Credit Union and a Bank
When deciding where to do your banking, you have the option of either a traditional bank or a credit union. Before you chose, it’s important to understand the differences between a credit union and a bank. One may work better for you and your family than the other. Once of the biggest differences between credit […]
Continue ReadingCompound Interest
If you’re looking to save for the future, you need to start now. It can be difficult to get started, but taking the time to do so can allow you to meet your financial goals. Saving just a little bit each month can really add up over time. Many people tell themselves that they’ll begin […]
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