For those of you living under a rock, the Dow Jones Industry Average lost a lot of points recently in a massive sell-off. But, do you know what I’m doing with my money and investments? Absolutely nothing! I have a financial plan, and I am sticking to it. Having a plan helps you weather the storm and gives you the confidence you need to stay the course. Now is not the time to be selling your investments. Just like the recession that rocked the stock market in 2008, selling in a down market when you do not need your investment proceeds is … [Read more...] about Three Reason You Should Have A Financial Plan
Staying out of debt is much more difficult than accumulating debt for many adults, especially when we have social media and innovative new forms of advertising pressuring us to spend, spend, spend on a near-daily basis. Perhaps unsurprisingly, the current statistics on Americans and debt are pretty abysmal: 55% of Americans with credit card(s) have debtU.S. households added $26 billion in credit card debt during the last 3 months of 2018 aloneApproximately 10% of Americans with credit cards have balances of $5,000 or higherThe average … [Read more...] about What Is a Debt Avalanche Method of Debt Repayment?
The following is a guest post by Dr. Ken Druck, an international authority on Courageous Living and author of the new book “Raising an Aging Parent: Guidelines for Families in the Second Half of Life.” If you'd like to contribute a guest post to Money Q&A, be sure to check out the site's guest posting guidelines. In my work with families over the past 40 years, I’ve learned that conversations about sensitive subjects like money can be extremely difficult. Talking about money can be a source of great satisfaction and benefit or a … [Read more...] about Guidelines for Adult Children and Aging Parents When It Comes to Money
Ask most investing experts, and they’ll tell you that the best time to start building your portfolio was yesterday. The sooner you can begin putting money into stocks, securities, and other assets for your future, the quicker you can begin building returns on your investments that compound dramatically over time. Every year that you put your spare savings into your bank account is a year of wasted interest – that lost money can really build up over time. Unfortunately, a lot of younger people in their twenties assume that it’s impossible … [Read more...] about The Top Benefits of Investing at a Young Age
There are many dangers lurking on the internet, and the masterminds of the dark web spare no one when trying to find data and personal information that can be exploited. One of the most common threats is a phishing scam, a ploy in which a fraudster is fishing to gain access to your personal information. Through fake emails or fake webs site that look like some of the more trusted companies like PayPal or eBay, they trap people in sharing their information. Most of the schemes will try to trick you into giving your user name and password so … [Read more...] about How to Protect Yourself From Phishing Scams
The cost of raising just a child nowadays could cost as much as a house (if not more) over the span of 18 years (not including college tuition!). This enormous price-tag has a lot of potential parents wary about starting a family, especially when they’re still paying off student loans, saving for a home and enjoying youthful hobbies like traveling while they still can. A recent survey of adults aged 20-45 years old found 43% of them waited longer to have children due to financial concerns, so you’re not alone in wanting to postpone having a … [Read more...] about How Parents Can Fight Back from the Rising Cost of Raising a Child