For those of us who aren't rolling in money, saving a portion of a paycheck is a chore. We know we should do it, but there are so many other fun things to do with our money.
You recently had a new baby. Right now, you are officially in "new parent mode." You are changing diapers, feeding the baby, and crossing your fingers that you will get the occasional afternoon nap in so you can survive those long sleepless nights when the baby is fussy.
As a parent, one thing that is always looming in the background is your child’s college education. Yes, you want the best for your child – to send them to a good school; to make sure they get a great education. But, all you hear about in the news is skyrocketing college prices.
It’s no secret you want the best for your children. What good parent doesn’t? You want them to have great friends, a solid education, and, in general, the best life possible. One way you can help considerably is by starting a savings account for them and developing a plan to add to it regularly.
Life can be pretty hectic as the parent of a newborn baby. Your mind is racing with thoughts of feedings, changing diapers, and sleep…much-needed sleep! Any financial thoughts are likely geared towards buying more diapers or formula.
When it comes to saving money, most people start with a basic savings account. Then, they move straight into market-based investments, such as stocks and bonds.
While retirement may seem like a lifetime away for many, making smart investing decisions early is the best move to ensure you can retire comfortably down the road. There are several retirement accounts to consider, such as Roth IRAs and 403(b) accounts, but one of the most popular options for many is a 401(k) plan.
With a multitude of investment options available, one popular option is a certificate account. While banks often refer to these accounts as certificates of deposit or CDs, credit unions typically refer to them as certificate accounts.
As you work toward building a secure future for yourself and your family, you’ll want to put some money aside for emergencies as well as begin to save for the things you dream of — a vacation, a larger house, your children’s education, and your retirement.
Be honest. Along with probably everyone else you know, you’ve dreamed of winning the lottery, right? Even though you know it’s probably not going to happen, it can still be fun to think about what you would do with that lump sum payment!
