Saving money, like weight loss, can be a struggle for many people. Both are laudable goals — and accomplishments should be celebrated in ways that do not undo your progress. For example, avoid overeating to celebrate 10 pounds lost or not spending on a big-ticket item once you’ve saved $1,000.
When an individual's paycheck hits their checking or savings account, those funds must go in various directions. There are bills to pay, trips to the grocery store, and plenty of instances of spending on-the-go. At the end of the pay period, there's often little left to save or fund retirement accounts.
If you’ve been watching the news in recent months, it’s hard to miss the “Gamestop Rebellion,” in which some ordinary people made waves and enjoyed massive gains by investing in Gamestop stocks. While it is possible to enjoy gains like this when all the stars align perfectly, it is equally likely to experience significant losses.
Retirement is an aspiration we all hope to reach – sooner rather than later! However, if you’re just starting your career journey, retirement can seem like a lifetime away. For others, it’s right around the corner, and you may be wondering if you’re genuinely prepared, financially speaking.
Saving money seems difficult. After all, when you work hard to make it, it's tempting to spend it on things and activities that are fun and enjoyable. As great as it would be to build that pool, wear that outfit, or head off on that vacation, it's more important to ensure your financial future. That means not living paycheck to paycheck.
Life is unpredictable, and sometimes we need a little extra cash to deal with unexpected expenses. Maybe you have a birthday or anniversary coming up, or perhaps your car is going to need a tune-up soon, and you haven’t exactly been budgeting for that.
When it comes to saving more money, there are two sides to the equation – incomes and expenses. You can save more money by bringing in additional revenue. This is commonly achieved when you receive a pay raise at work, switch to a higher paying job, earn more on your investments, or create a new income stream such as a side gig or freelance work.
One of the most important things you can do to boost your savings and get your monthly spending under control is to trim the fat from your existing budget. Once you’ve explored the obvious choices, like planning and preparing meals at home and cutting out the daily coffee run, it’s time to explore deeper cuts you can make that might offer a lasting impact on your efforts to save.
One of the most popular questions people ask is whether they should save their money or invest it. The simple answer: both. While investing your money traditionally earns more than a savings account, there are risks and downsides.
You’ve been making sacrifices for months, saving every little bit here and there to build up a nice emergency fund. Now that you’ve reached that goal, you’re faced with a daunting question: Do you invest that money to earn more or pay down debt?
