Do we want to finally take control of our finances and start saving for our future goals? Building a budget may seem daunting, but it’s the first step toward financial freedom. In this post, we’ll create a guide on how to build a budget that works for us – one that considers our income, expenses, and financial goals. Say goodbye to financial stress and hello to peace of mind with our helpful tips and tricks! Determine Income and Expenses When it comes to budgeting, one of the most important things we can do is to determine our income and expenses. This will give us a clear picture of where our…

Parents of young children often have a tough time pinching their pennies. Between diapers, formula, clothes, car seats, cribs, and baby gear, it can be a real challenge to come up with gift ideas while on a budget. One way to stretch your dollar is to purchase wholesale items, like cheap party supplies or home goods. This can help you create unique and affordable party favors for your kid’s birthday party. Kids grow up so fast, and with that comes birthdays and celebrations. As they get older, they’re often looking for more challenging gifts, and there’s so much out there that it can get overwhelming. But the truth is, making…

Saving for a home while renting can be a challenge, but it is a goal that many renters aspire to achieve. When you live in a rented property, there is a sense of impermanence and a subconscious anxiety that might urge you to move into a new home, preferably one that has been built and is ready for you to move in. One of the benefits of buying a quick move in home is that it provides a sense of stability and permanence that renting cannot offer. But in order to achieve that, you will have to organize the finances or save enough to finance such a purchase. And saving…

There are a lot of reasons to have an emergency fund. For instance, it helps you sleep at night and keeps you from stressing out about unforeseen expenses. It can help you save money in case of an unexpected expense. The money is there for you to access when you need it, and you do not have to worry about spending it all in one go. Besides, it is also a great way to invest in your future. Whenever there is a need to invest in a car, a course, or even in some multi generational house plans, you can rest assured that you can finance it using your emergency…

For some people, money is the root of all evil. For others, it’s the key to many beautiful things. Some tend to say that money can’t buy happiness. It could be true for a lot of people but money sure could buy happiness with a lot of material things. Money could help secure a future where you needn’t worry about daily expenses. Some tend to do this in the form of a life insurance policy (check various reviews including cmfg life insurance review before making a decision) while others invest in stocks and mutual funds. In reality, money has very little to do with either. When you’re in debt, however,…

Whether you’re buying a home, downsizing, or just need extra cash in a hurry, the reverse mortgage is an excellent option. However, many borrowers are surprised to learn that reverse mortgage eligibility is determined by a complex calculation that includes many factors that are rarely discussed. For instance, you may want to renovate your house or do some upgrades such as new drapes, windows, and plumbing to improve the energy efficiency of the house. In such cases, having the knowledge of your mortgage eligibility could come in handy. While equity needs vary widely, some basic factors can be used to determine your eligibility. While equity needs vary widely, some basic…

You’re probably familiar with the idea of budgeting. It’s a common practice for most people who want to be more in control of their money and less at the mercy of their salaries. A budget is a plan that lays out how much money you can spend each month, and it’s a great way to keep your finances on track. But budgeting tools, while helpful, can also be complicated. Budgeting is something that most of us do daily, but we don’t always do it correctly. We often over-spend, under-spend, and do not have enough money in the bank, leaving us wishing we had a better handle on our to-do list.…

Life is tough enough without having to worry about how you’re going to get by when you get old. The average American saves less for retirement than he or she did 25 years ago. The average American saved 3.6 percent of his or her income in 1992. In 2012, the average savings rate had dropped to 1.7 percent. What’s worse, many of us aren’t even contributing to a retirement plan! According to a 2012 Merrill Lynch survey, only 37 percent of Americans have a 401(k), 403(b), or other types of retirement plan. This shows how important it is for people to save their money early and have the tools provided…