Owning a car can be a significant expense that eats into your bank account each month. Aside from the upfront purchase, you also have to worry about long-term expenses associated with maintenance, gasoline, and insurance coverage. Worry not – there are many strategies you can adopt to minimize costs. Below, we discuss the best time to buy a car, money-saving features, and more. With these tips and tricks, you can avoid paying too much, while staying on the road with a car that meets your needs.
Debt can be sneaky. Balances on loans and credit cards that accrue interest can force you to pay more than you anticipated, eat away at your monthly cash flow, and make it difficult to save for the future. And since debt lowers your total net worth, it can make achieving big-picture goals, like buying a house or car, more difficult. However, debt is practically inevitable in today’s financial landscape.
Credit score is a central component to personal financial success. Having a clean credit report and high credit score opens the door to plenty of opportunities like qualifying for great rates on credit cards, better rental housing options, lower interest mortgages, insurance discounts, and more. If you lack strong credit right now, it’s possible to improve. It takes consistency and financial prudence, but the sooner you start addressing problems with your credit, the better you’ll position yourself for the future.
Credit cards are quite a controversial topic. Millions of consumers use credit cards for most of their purchases, yet critics claim they encourage overspending and lead to vicious debt cycles. The key to using credit cards to understand how they work. To that end, the guide below teaches you the basics of credit cards and what to avoid.
Many Americans go into debt as a result of unexpected expenses each year. Enter: the emergency fund, the hidden hero of your financial plan. An emergency fund is your financial safety net, a supply of funds saved to protect you from debt in the face of an unexpected financial crisis. By starting an emergency fund, you can take important steps to prepare for the financial burdens that come your way when you least expect them.
Tax season is a high risk, high reward time of year. Unfortunately, if you – like many – find yourself perplexed by borderline unintelligible tax codes, you may fall victim to penalties and legal repercussions from the IRS. Having a firm grasp of the tax code at all levels of government, on the other hand, can save you hundreds (if not thousands) of dollars via deductions and credits.
Parenthood is one of life’s most exciting and rewarding endeavors. But it’s also a difficult – perhaps even overwhelming – undertaking. Caring for and raising a newborn human being into a healthy adult is a physically, mentally, emotionally, and financially daunting task. While you may be prepared for the physical, mental, and emotional responsibilities of parenthood, many new parents struggle to prepare their finances.