The following is a guest post by Harry N. Stout, the author of the FinancialVerse books and the free newsletter Moneysavers. If you’d like to submit a guest post to Money Q&A, be sure to check out our guest posting guidelines. Do you want to be better off financially and stop leaking your valuable cash? Being financially literate just might do the trick. What I have found is that a lack of financial literacy can be financially and psychologically costly. I write extensively about this in my FinancialVerse books and content … [Read more...] about Stop Leaking Cash by Becoming Financially Literate
One of the most important lessons a parent can teach their child is proper financial management. This is something rarely taught in schools, yet a vast majority of parents do not adequately prepare their children and teenagers for independent financial management when they reach adulthood. Reasons for this may range from an unwillingness to discuss financial matters with their children to simply not realizing the importance of actively teaching kids the basics of budgeting, spending & saving, and other critical financial skills. To … [Read more...] about Wallit App Review – A Great Budgeting Smartphone App
Many people only consider reducing their expenses when times are tight. But, there is only so much your budget can take in the way of belt-tightening. There are two sides to the budget equation. Another way to tackle the problem is to look at the other side of the equation. You can help your struggling finances by increasing your income as well. Understanding The Accounting Equation Or Budget Equation On the first day of an accounting class in college, the professor put the accounting equation on the board. It is an equation that … [Read more...] about There Are Two Parts To Your Budget Equation
One of the most commonly confusing concepts for consumers when it comes to health insurance isn’t the insurance policy itself – it’s something called a health savings account, which some people ignore or dismiss because they mistakenly equate an HSA with a regular savings account. There are actually quite a few advantages that an HSA offers compared to a regular savings account, though not everyone is eligible to open an HSA. It all comes down to your health insurance policy’s deductible limits. If you’ve been offered HSA options from an … [Read more...] about How to Get the Most Out of a Health Savings Account (HSA)
When you’re tight on cash and need to make a relatively large purchase, it can be challenging to decide how to pay for it without breaking the bank. Some folks immediately whip out their credit cards, while others look for ways to avoid the purchase until they can afford it. Another more moderate approach could be paying for the purchase in monthly installments over a set period of time (e.g., 3, 6, 9 or 12 months) through a lending program. One increasingly popular way for consumers to finance their purchases over time is by checking out … [Read more...] about What Is Affirm and Is It Worthwhile for Consumers Financing Big Purchases?
Most financial wisdom you come across these days strongly advocates for homeownership, but is this really the best financial path forward for some people? We have no problem renting movies, leasing cars, staying in vacation rental homes, and even clothing (thanks to those personalized style subscription services that consumers are flocking to in order to keep their wardrobe fresh) – why do we always assume that owning a home would be a better option than renting? Of course, there are tons of benefits to owning your own home, the most … [Read more...] about 4 Scenarios Renting vs Buying Makes More Sense