Most people know that they should contribute to their company-sponsored 401(k) retirement fund. However, many people don’t know when they should begin or how much they should contribute to this fantastic saving tool. Here’s what you need to know about contributing to your 401(k).
Estate planning can be a tricky topic to navigate. Learn about how a living trust works and how you can benefit from having one.
Are you retired? Are you planning to retire sometime in the near future? With such a major life change, it’s necessary to be a little more careful with your finances. Here are some cost-saving methods to help you get a better control on your post-retirement finances.
Is it too late to start saving if you’re 50 or older? Not so, says Carrie Schwab-Pomerantz in a great article we’re sharing from the Detroit News. In fact, she claims that there is no time like today to get started. Check out her great savings tips for people over 50.
According to the U.S. Census Bureau, 25% of American families and over 38% of American adults have no emergency fund or savings to fall back on. That’s scary. If you need to start saving but find traditional savings accounts too boring, maybe you should consider one of these alternative options.
If your house is anything like mine, not a whole lot gets done until coffee is consumed in the morning. Lots and lots of coffee. If you’re in the market for a new coffee maker, here are some tips to help you find the right one for you!
The IRS reports that the average tax refund for this season, so far, is a little more than $3,000. That’s a pretty decent chunk of change. However, even though many taxpayers say that they plan to save their tax refund, this money actually gets spent, according to CNBC.
Grocery bills can grow quite large in a hurry. This puts a financial strain on many families. Frugal families can save up to half of their grocery bill by organizing their supermarket shopping and implementing these five money-saving tips.
Lifetime savings. It isn’t something we think about on a daily basis. Although I probably should, I’m not walking around thinking how much I could save over 30 years if I didn’t buy myself a cup of coffee every morning. But if you’re in the market to refinance or purchase a new home, savings over the life of your loan should be at the top of your mind. How can you save over the life of your loan? It’s simple, you pay less interest. Let’s crunch some numbers. If you have a $200,000 30-year fixed-rate mortgage with an APR of 4.599%, your monthly payment would be $998.58, and the total amount of interest you’ll pay is $159,640. That same loan amount with a 15-year fixed-rate mortgage (3.758% APR) gives you a monthly payment of $1,417.52 and a total interest amount of $55,240. So, if you went with the 15-year fixed-rate loan, you would be paying $419 more every month, but you’d save $104,400 in interest over the life of your loan. But what if you don’t want to go into a 15-year mortgage? Is there any other way to save on interest over the life of your loan? Yes, with an adjustable rate mortgage (ARM). ARMs can still have a 30-year term, but the interest rate will be fixed for a period of 5, 7 or 10 years. After that fixed-rate period, the interest rate may adjust once per year depending on the market conditions. A lot of people opt…
While many of us want to save more, sometimes we need a little help starting the process! Here are some websites that will help you put saving into motion.