Financial Independence

6 Tips to Manage Your Finances With a Stay-at-Home Parent

The decision for one parent to stay home can cause tremendous heartburn. Many feel strongly about staying home with kids, but don’t know if they can make it work financially. However, with careful planning and a keen eye on the budget, having one stay-at-home parent can work for many families. According to Amy, a stay-at-home mom in the Midwest, the key to managing finances when one parent stays home is open communication and a solid budget. These six tips will help you shore up your budget and manage your finances when one parent stays home. Include Activities in the Monthly…

Save Big With Coupons

If you think couponing is about trimming squares of paper to save 25 cents on toilet paper, you have another thing coming. Couponing looks incredibly different in today’s digital age. Couponing has become much more streamlined and efficient, not mention more lucrative. Whether you are looking to pay down debt or hit a savings goals, learning to take better advantage of discounts and coupons really adds up. The Changing Face of Coupons Once upon a time, coupons were only found in the sales section of the weekly newspaper. Some papers came filled with sale inserts and manufacturer coupons on Sundays.…

5 Personal Finance Milestones in Your 20s

Your 20s is an amazing time of adventure, career building, self-discovery and building the foundation for a path to navigate your financial life. Reaching life’s biggest financial goals requires a plan that starts with a series of important financial milestones. Follow along to learn about five major personal finance milestones in your 20s and how to achieve those important goals. Building an Emergency Fund The first financial milestone of your 20s involves savings. Specifically, emergency savings. A GoBankingRates survey found nearly two thirds of Americans have less than $1,000 in savings. That means they can’t afford to fix a broken…

Passive Income: How it Works and How to Make it Work for You

What is passive income? Passive income is a strategy of using personal finance and other resources to generate a long-term, recurring income with little or no work. Many people around the world dream of making money when they are asleep, but to a large number of those interested in passive income, it is a pipedream with no tangible results. The Passive Income Strategy Passive income is a long-term strategy to help generate income for everything from covering the bills to early retirement. You can use the proceeds however you want. Maybe you reinvest to build your passive income project into…

How to Get Smaller Prices on Bigger-Ticket Purchases

We are all consumers and, as such, we find ourselves consuming at a broad range of prices, buying everything from soft drinks to cars to houses. When it comes to the bigger-ticket items, it helps to have a strategy for making those larger cash outlays. Budgeting should always be first on your list, to make sure you have cash available when a great price comes along. And if you have a big-ticket seasonal purchase in mind, consider seasonal budgeting. Aside from budgeting, one of the first things you should do is identify big-ticket purchases that you make all the time…

Updates For Your Home to Stay in it Forever

Your home is perfect for you. You love the neighborhood, the yard, the space. It’s where your kids grew up and where your grandkids come to play. You can’t imagine yourself living anywhere else. While many people think they have to leave their homes behind as they get older, aging in place is a growing trend in the home improvement world. Many families make modifications and updates to their home, allowing them to age in place by following the basic principles of Universal Design. Some updates require more extensive planning and come with a hefty cost. But a surprisingly number…

Money Moves to Help Millennials Save

A 2016 survey of 7,000 Americans found that 34 percent have nothing saved. When it comes to money and millennials in particular, though, things get a little confusing. While one study found a small percentage of millennials have already stashed away $100,000, another found 46 percent of young millennials have nothing saved. If you’re in the “no savings” camp, how do you get started when it feels like you don’t have a penny to spare? Set a Small Goal First things first. All savers have to start somewhere and sometime. It is all too easy to quit before you even…

10 Money Tips for New Grads

If you’re a new grad who’s feeling a little exhilarated, a little worn out and a little terrified about finding a job that pays the bills … take a deep breath. The great thing about this stage of your life is that while you have room to take your time, make mistakes and figure out what you want, you are also young enough to do a few key things right that will set you ahead of the crowd for years to come. Especially when it comes to money. Looking for financial advice after graduation? Here are ten tips to keep…

How Your Credit Score Impacts Future Financial Goals

When it comes to your credit score, report and history, it’s important to remain vigilant, address issues, spend wisely and make payments on time.   Since your credit score is a reflection of your financial behaviors, your spending power is directly affected by your spending habits. A credit score also impacts your savings and future goals. Staying prompt with credit card payments and other debts will help to avoid a snowball of debt that may become unmanageable. And it will also help to maintain or improve your credit score over time. Establishing good credit creates a world of opportunity and…

Keep Your Finances in Balance With an Excellent Credit Score

Your credit score is much like an adult version of your GPA. It’s a grade that measures your level of financial responsibility in relation to others. Banks and lending institutions use your credit score when you apply for a mortgage, an auto loan or a loan for home improvements or a business. Credit card companies use scores to determine who qualifies for a card and at what interest rate. Increasingly, however, insurance companies, landlords and sometimes employers, study credit scores as a way to determine how responsible you are. Here are basics about where your credit score comes from and…

Navigate