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Financial Preparedness Advice from Money Bloggers

One important part of preparing for the future is having your finances in order. The money blog here at families.com is a great resource for learning to budget your money, save, invest, and get out of debt. Here are some great articles to read that will help you be financially prepared for whatever life has to offer: Preparing for death: Writing Down Your Wishes Everyone should have a will, especially those with children or those married with children from a previous relationship. The Basics of Estate Planning For more information on starting a will or trust, read this article. Getting … Continue reading →

Understanding Interest Rates

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After many conversations with friends and family, I realized that a basic understanding of how interest rates work for borrowing and investing was missing from the general population. Many families are faced with the decision as to where to put their money, after they have paid all their basic expenses. Should they place it in a savings account or pay off their credit cards? This consistent discussion actually led me to write an article on this same subject for the Dollar Stretcher. The main struggle appears to come from understanding the overall affect of the interest rate. The Prime Rate … Continue reading →

Do You Have Trouble Saving Money?

Do you have trouble saving money? Have you thought about saving money and the benefits that it would bring you? You may have gone as far as actually putting an amount in your budget to save every month. You may actually transfer that money in at the beginning of every month. However at the end of the month you find that you’ve slowly transferred it all back out again. Here are five tips to help you begin to make your savings stick. 1) If you find that you are using the money that you “save” every month. You need to … Continue reading →

Let Your Bank Work for You

There are times when you can let the bank work for you. It may be difficult to find time to run to the bank, or you may be worried about remembering to send in a check on time. The bank does have options that will benefit you and help you to meet your obligations. 1) Direct deposit is a great tool that can help to eliminate extra trips to the bank. Technically this does need to be offered by your employer, but many banks offer incentives when you have your paycheck direct deposited. Some of the incentives include a free … Continue reading →

Using Found Money to Achieve Your Financial Goals

Lots of times money comes into our hands, wallets, or bank accounts, and finds its way out again just as quickly. I’m talking about that birthday gift from Grandma or the rebate check that arrived in the mail. What was it used for? A drive-thru meal at McDonald’s? Snacks at the movies? Maybe you have no idea? All of us have that kind of “found money” that makes its way into our lives. Often times it was unexpected or forgotten about until it arrived. Therefore we have no real plan for it. Here are some common examples of found money: … Continue reading →

Surviving Rising Interest Rates

Interest rates are on the rise. We’ve been in an environment of rising rates since 2004 and all indicators are that the Federal Reserve is ready to boost them again. The current environment of rising rates can play havoc with the average family’s budget. Here are some suggestions for keeping the impact to a minimum: 1. Take stock of any debt you have that has a variable interest rate. A variable interest rate is any rate that isn’t fixed, and therefore fluctuates over time. Examples include variable rate mortgages, home equity lines of credit, and credit cards. The interest rates … Continue reading →