In an ideal world, we would all be on the same page as our life partner when it comes to money management practices and even just basic openness and honesty about finances. However, the reality is that people rarely dedicate enough time to discussing the financial side of being in a committed relationship until after they get married. Whether you know very little about your fiancé’s finances or you’re both completely open with each other about your individual and shared financial situations, here are 6 considerations to your married … [Read more...] about 6 Financial Considerations to Make Right After Getting Married
A recent study found that 42% of Millennials have used alternative financial services and 39% of the general population has used these services, which include payday loans, pawnshops, rent-to-own programs, and car title loans. Short-term loans are often risky for borrowers, but there could be some advantages to taking out this type of loan if you’re in a pinch. Pros and Cons of Alternative Financial Services To help you decide whether alternative financial services might suit your financial situation, here are some considerations to make … [Read more...] about The Pros and Cons of Alternative Financial Services
Nobody knows how many Americans are actually participating in the gig economy; estimates range widely from 4% to 40% of the workforce. What we do know is that some people have managed to successfully transform their former side gigs into full-time work, while others continue working full-time jobs to support themselves and use side hustles as extra income streams to pay the bills and grow their savings. But, is your side hustle costing you money? The problem with side hustles is that they can complicate your income and tax situation much … [Read more...] about Is Your Side Hustle Actually Costing You Money?
Are you currently or have you ever worried about the state of your financial situation? Whether you’re struggling to pay off debts, living paycheck to paycheck, living with minimal savings, or falling behind on retirement contributions, there’s a good chance you’ve experienced anxiety about your finances at some point in your life. After all, a January 2020 CreditWise survey by Capital One found 73% of Americans rank finances as their #1 cause of stress, significantly more than the rates of stress caused by politics, work and family. … [Read more...] about The Effects of Stress on Your Finances
Nobody wants to think about dying, but unfortunately, it’s such a big component of financial planning that you can’t afford to ignore the prospects of dying earlier than expected. In addition to planning for the future with life insurance options, you should also be aware of Social Security survivor benefits. Social Security Survivor Benefits When You Report a Death In most cases, funeral homes are responsible for reporting deaths to the Social Security Administration (though you need to give their Social Security number beforehand). … [Read more...] about 6 Things You Should Know About Social Security Survivor Benefits
Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. If you're not familiar with Dave Ramsey's book, you should run right out and get it. It is one of my the best personal finance books that everyone should … [Read more...] about How to Prioritize Which Bills to Pay When You’re Struggling