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Debit Card or Credit Card: Which is Right for You?

Paying with plastic is par for the course these days, even for small purchases. The question is, which kind of plastic is best? People tend to have strong opinions about debit versus credit cards. Debit card diehards are the modern-day version of cash-only consumers. They won’t spend what they don’t have and using a debit card eliminates any temptation to overspend. However, there are plenty of people who could pay with debit but opt for credit cards instead. Often, it’s because they are earning cash back or racking up points. We all know at least one frequent-flyer fanatic who takes…

College and Insurance: Insurance Entrance Exam for Kids on College Campuses

If you have a child living away at college, you’ve probably been through an extensive checklist in getting him or her prepared and moved to campus for the fall semester. Amid the flurry of planning and packing, have you thought about college and insurance? Although still your dependent, your child living away from home may have additional insurance needs to protect their belongings and their well-being. Consider these areas: Auto Insurance Fewer than half of college students have cars on campus, so if your child doesn’t have wheels, let your carrier know. Your student may be eligible for a “distant…

Take Steps Today to Ensure Your Life Insurance Pays Off

If you have a life insurance policy, you have already taken the first positive step toward protecting your loved ones’ financial futures. September is Life Insurance Awareness Month and the ideal time to take the next steps to ensure that you not only have adequate coverage but that your good intentions will be carried out too. Here are key points you need to know about how to manage life insurance policies and about how insurance is paid out: Check Your Records and Update as Needed Maybe you took out the policy many years ago, during which time your beneficiaries have…

7 Bad Money Habits That Can Ruin Your Finances

Habits can make or break our personal finance success. While good habits can help you build savings and live without financial stress, bad money habits can turn into a downward spiral of debt, fees and struggles. Making some small adjustments to your financial habits is easier than you may realize. Break these seven bad money habits to put yourself on track to a happy financial life. Making Only the Minimum Payment When you get a loan statement in the mail, whether it is from a credit card, mortgage or student loan, you can quickly find your minimum payment for the…

Personal Finance Quiz: 9 Questions to Ask Yourself

How well do you know your money? Odds are you are more familiar with your finances than anyone else in the world. If that isn’t the case, it’s time to make a change. Find out if you know enough about your money with this quick personal finance quiz. Are You Saving Enough for Retirement? How much do you need save for retirement? Are you on track to reach that target? Many Americans never calculate how much they need for retirement. The average baby boomer is destined to see a dramatic lifestyle change after paychecks stop in retirement. Even with social security…

Family CFO Monthly Money Management To-Do List

Managing your family’s finances is a bigger job than many people realize. A family’s finances work similar to a small business. You have cash flowing in and out, savings and investments, credit cards and debt, bills to pay, and people relying on you for their basics needs. Whether you run your finances like a Fortune 500 company or a mom and pop system, follow these steps to ensure you are fulfilling your family Chief Financial Officer duties each month. Review Your Family Income Statement In personal finance, there is a simple saying to help you manage your income and expenses…

6 Health Tips That Can Also Grow Your Wealth

The relationship between our health and wealth is strong. Those in poor health suffer from a variety of illnesses and incur the high cost of medical care. And when someone is struggling financially, looming debt and the daily struggle to pay bills can negatively impact their health. This can become a vicious cycle of increasing financial hardship and declining wellness. There are moves you can make to help break this cycle or even try to prevent it in the first place. Staying healthy can make a big difference in improving your financial situation. Your level of fitness has both short…

Extreme Home (and Car!) Makeover

Budgets being what they are, renovating your home or getting a new car may not be in the cards. And while it’s not the same as brand new, here are 10 tips to renew your love for your home and car  – without putting a major dent in your bank account. Home Lighten Up No need to install an expensive lighting system to completely change the look of your home. A few strategically-placed lamps can add dimension to any room. Even changing bulbs to more energy-efficient LEDs available in “warm white,” “soft white” and “bright white” can completely transform your…

3 Options to Help You Manage Your Budget Better

Budgeting is one of the most important parts of personal finance yet it’s a known fact that few people can say they truly enjoy it.  In the old days, budgeting required paper, a pen, a calculator, and a lot of time. Checking in on how you’re doing required a checkbook register and bank statement. Thanks to technology, things are much easier now. You can look at your spending by category in a couple of clicks! Here are three options you can use when budgeting to help keep things simple and easy. Automated Budgeting Mint.com launched in 2006 and led the…

5 Important Money Lessons From Video Games

We get it. Personal finance can be a dry topic but financial savvy is important in achieving financial independence.  So if you are ready for a long nap when the talk of money or personal finance arises, you’ll be thrilled to know that video games have added an element of adventure and action to your personal accounting activities. What types of finance lessons can be learned from games today?  Lessons on how to manage money, business strategy, and other life and personal finance are just a few examples. So, the next time you pick up a video game for your…

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