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emergency fundAccording to the Washington Post, a recent FDIC report finds that up to one third of Americans are unbanked (without any bank accounts) or underbanked (have a bank account but do not use bank services like credit cards). This means up to 50 million adults and households nationwide are not participating in the banking system, […]
What do Ace Hood, Nicholas Cage, and Ed McMahon have in common? All are successful celebrities who at one time faced financial ruin. What went wrong? Without a doubt, they didn’t follow money management basics. Anyone rich or poor can make bad financial decisions that can start a downward financial spiral. At one time, Cage […]
With the New Year come many resolutions. Most of us have at least one resolution that is financial in nature. In Michelle Singletary’s latest column, “Facing the Truth of Your Financial Situation”, she lists five of her favorite financial fibs that we often tell ourselves that keep us from reaching our financial goals. They are: 1. I […]
Last week we discussed why it is important to have an emergency fund set up. Now, for our third and final week we will take a look at why paying your bills late is another costly mistake. Paying your bills late will have more of an effect on your finances than just paying a onetime […]
Last week we discussed the first of the “three costliest money mistakes” according to Shape Magazine. This week we will look at why not having an emergency fund set up is another big mistake you can make. If you have an emergency or get sick, how do you plan to pay for it? Or what […]
Expense 4-Health Care: Like all of the other expenses discussed in the three previous weeks, health care can be an unpredictable expense, even when considering the relative “protection” provided by health insurance. Expenses that must be covered are deductibles, preventative or elective care, vitamins and minerals, and prescription costs. Are you ready for these to […]
There are budget categories in life where sooner or later, money will be spent. It may be $500 on a repair this month, and $400 on a new product next month. Over the course of the year, we can average out and prepare for these expenses. There are four categories of unexpected expenses that will […]