Category Archives: Saving

How to Choose the Right Bank Account

There are so many choices when it comes to bank accounts. Between savings accounts, checking accounts and every variation on them, you may have more choices that you know what to do with. Here we will look at a few of the most common types of accounts and help you decide which kind of bank account you should open. Current Accounts These are also called checking or debit accounts and they allow you to access your funds through a debit card. Often, the debit card can be used like aContinue Reading

3 Steps to Dressing Up Without Stripping Your Bank Account

Ah! The Halcyon Days of mid-February. Spring is right around the corner and many of us may have already seen some cherry trees that the weather has tricked into blooming early. It’s at times like these that we feel the urge to spend on a new seasonal wardrobe that will show off the calf definition we’ve worked so hard to gain over the long winter… We should know better! Money doesn’t grown on trees, after all. But why resist the urge to splurge when there are ways to freshen upContinue Reading

Avoid These Budget Busting Bank Fees

Avoid These Budget Busting Bank Fees

During my day job as a financial counselor, I periodically review client’s bank and credit card statements. Most of these review sessions end with the same items sticking out no matter whose account I am looking at. Those items are bank fees.  Fees (overdraft, credit card interest, etc.) are fairly easy to overlook as they are often small and typically debited right from your account (how convenient). They also consistently erode your income available for debt repayment and/or savings. Therefore, you need to find ways to avoid these budget bustingContinue Reading

Save a Little Now, Not a Ton Later

Save a Little Now, Not a Ton Later

“If you could only give one piece of financial advice to a person, what advice would you give them?” I get asked this question a lot, and it’s a pretty easy answer for me. I always say, spend less than you earn. Ask that exact question to any personal finance expert and I bet that 9 times out of 10, they answer the same way. However, I always want to talk about the second best piece of advice too because I feel that it goes hand and hand with the advice I just mentioned. That advice would be toContinue Reading

Broker Demos–The Perfect Place to Gain Investing Experience

Broker Demos–The Perfect Place to Gain Investing Experience

photo: 401(K) 2012 Once you make the decision to invest, you may be temporarily paralyzed with indecision.  Where should you invest your money?  Which investment is best?  Which broker should you use?  How diversified should your funds be?  The questions can go on and on, and if you’re not careful, they can so overwhelm you that you don’t know where to start. When you’re just beginning, start slow.  There’s no rush.  This isn’t a race; you have plenty of time. One good way to start is to use free demoContinue Reading

Focus Your Attention on the Major Expenses First

Focus Your Attention on the Major Expenses First

When it comes to simple, though-provoking, easy-to-read personal finance information, I turn to Michael B Rubin. He currently has two books available titled Beyond Paycheck to Paycheck and The Savings Solution. These two books are written just as though you are having a conversation with the author (whom is actually a CPA and CFP© to boot). It makes for great reading! Why am I talking about Michael Rubin in a post about focusing on your major expenses? Well, he has a great saying in one of the books called “MajorContinue Reading

5 Simple Techniques to Energize Your Savings Today

5 Simple Techniques to Energize Your Savings Today

Why do Americans find is so hard to save money? Just last October it was said that the average American only saves about 3.6% of their disposable income. Heck that is even after the so-called “Great Recession” forced many to save more than they ever had before due to fears of a job loss, being scared to invest, etc. In fact, it was only a few years ago when Americans had a negative savings rate. Yep, you read that right. Americans were spending more than they were bringing home. NoContinue Reading

Christmas (Savings) In July

Christmas (Savings) In July

It’s about this time each year where you start hearing the “Christmas In July Sales Event” promotions on the radio. It’s just another sales gimmick for your local car dealerships and furniture stores but it sure helps me make a point about saving for Christmas early. Many people just “wing it” when it comes to spending at Christmas and decide to just see what the damage is after the holiday season is complete. If you fit into this category, you obviously know what comes in January - The Bills. In fact,Continue Reading