The following is a guest post by Tony Steuer, an advocate for Financial Preparedness and the author of GET READY!, and the founder of the Get Ready Initiative. If you'd like to contribute a guest post to Money Q&A, be sure to check out our guest posting guidelines. You’ve resolved to get a handle on your finances in 2020, but will that determination wane by March? With over 80% of people failing to realize their New Year’s resolutions, it’s likely that you’ll become overwhelmed with checklists and budget-tracking within just a matter … [Read more...] about A Plan for Taking ONE Simple Step in 2020 to Get Your Finances in Order
Did you know that consumers waste more than $34 billion per year on overdraft fees? This figure rivals Great Recession figures, though overdraft fees were cheaper back then (around $20 for banks and $15 for credit unions, compared to $30 for banks and $28 for credit unions nowadays). Since there is no benefit to paying overdraft fees – they’re just penalties for folks who overdrew their accounts to pay the bills before their next paycheck rolls around – it’s alarming to think about how much money individuals and families living paycheck to … [Read more...] about Earnin Review – How to Get an Advance on Your Paycheck
Did you know that more than 66% of all bankruptcies are related to health issues (medical debt or extended time off from work) and more than half a million families declare bankruptcy due to medical debt each year? These numbers have skyrocketed over the past several years as healthcare costs continue outpacing inflation – and wage growth – and people increasingly find themselves stuck with medical bills totaling thousands, if not tens of thousands of dollars. While your next hospital bill may not be the straw that bankrupted the camel’s … [Read more...] about What to Do When You Are Faced with an Unexpected Hospital Bill
Whether you’re just starting out in an entry-level career in your 20s or preparing for the final years of your career in your 50s, retirement is one of the most important financial goals anyone can have at any point in their adult lives. Marriage is also another goal that many people share, but unfortunately, research has shown that 40% of marriages will likely end in divorce. But, how much does divorce hurt your finances? This means your goals for marriage and retirement could potentially conflict with each other, as new research from … [Read more...] about Can a Divorce Hurt Your Finances as Much as a Recession?
Since the early 2000s, the percentage of working Americans enrolled in a high deductible health plan (HDHP) without a health savings account (HSA) increased from 10.6% to 24.5% in 2017. Meanwhile, the percentage of people in the same demographic enrolled in an HDHP with a health savings account increased from 4.2% to 18.9%. Are you one of the millions of Americans who have a high deductible health plan without a tax-advantaged HSA to mitigate the costs of medical care? If so, opening a free, FDIC-insured health savings account with a … [Read more...] about Lively HSA Review – Why You Need a Health Savings Account
When it comes to saving money and striving towards financial independence, impulse spending habits are some of the biggest obstacles preventing you from achieving your goals. Impulse shopping problems typically start out small: $5 purchases here and there. But then they progress into more frequent and costly purchases, as we grow increasingly desensitized to those small expenses until we’re spending hundreds of dollars per month (or week) on things we don’t really need. The problem is, human beings aren’t too great at differentiating … [Read more...] about How to Control Your Impulsive Spending Habits with Prepaid Debit Cards