Men Have More Saved For Retirement Than Women
Millennial guys have two-thirds more saved than girls their age.
Overcome cash flow challenges to achieve a balanced budget
Millennial guys have two-thirds more saved than girls their age.
Only a third of them are saving outside of workplace plans.
They also earn less money after graduation.
Company budgets are too tight to give them both.
We can’t afford to fund our own retirement.
It has nothing to do with astrology. It has everything to do with economics.
Wise words from wealthy innovators who smiled in the face of defeat.
Women are more honest employees, yet are still paid less.
What’s the catch? You need to learn how to budget — not at work, but at home.
Customizing a summer side hustle is almost as easy as sipping a big glass of lemonade.
Old and young Americans want work-sponsored pension plans.
Not surprisingly, their largest stressor is money.
It turns out high income isn’t the best predictor of how people save.
A reader is finding customers for a construction firm. But is he being bulldozed?
There are homes in the U.S. earning owners the income of a six figure salary job.
From retirement savings to paying down debt, some extra money every month can make your goals a reality.
Women don’t believe they’ll ever earn the same as men.
From Chicago to Dallas, the salary required to afford a home is less than you’d expect.
Employees have more confidence in their work-sponsored investments than two years ago.
They’re afraid of outliving their savings and affording healthcare.
When women advance in their careers – men do too, research says.
Ever Hear Of The “Investment Gap”? It Might Be Worse.
More Americans are going to save their tax refunds this year than they have in over a decade.
Most people around the world say they’d use artificial intelligence to file their tax return.
Filing our taxes was difficult enough, now we have to figure out the new law.
Job growth is on the rise but wages have flattened out.
But before he earned that title, he made many “idiotic” mistakes.
A breakdown from the smart and ethical to the down right wrong way to boost your income off an internet side hustle.
Retailers are shopping with your money. And you can save by cutting out the middle man.
Despite misconceptions that they’re wasteful with their money.
Where rich people shop, how bad customer service really is, and why hackers might stop identity theft.
Nearly one-third of Americans say it’s too hard for them to save money due to high costs of living, including rent, food, and utilities. Most Americans didn’t save any money last year.
The economy is showing improvements and Americans are doing something about it.
It’s less than you think.
More decent jobs are hiring than in years, and many don’t require a college degree.
The tax bill has now brought millions of Americans extra cash — and not just on paper. If it hasn’t helped you, just wait.
Why go into student loan debt for decades when you can make money now?
Home values are up, rents are up, people are scared and many can’t afford to live where they are right now. The only people who have it good are retirees.
Is the traditional retirement age going away? Most Americans are planning to work long after hitting 65.
Miami and the surrounding Florida Keys has the richest area code in the nation. The mean household income is almost half a million dollars.
The good news is that organizations are interested in changing their sexist pay disparities. The bad news is that the longer they wait, the more it’ll cost them.
Tired of being haunted by the specter of purchases past? Get rid of debt in 2018 and ditch living paycheck to paycheck.
Some states are having major economic boosts that are going to make living there good for your wallet.
Some positions exchange salary for rest. Here are the jobs where you get the most doze for your dollar.
A third of married people report being financially unfaithful.
He went looking for an apartment but found something else…
Female workers are especially hurt when they don’t reveal their previous pay.
Hawaii has 539 times more debt than Washington DC.
He worked nights and weekends to become an entrepreneur.
What can you do? Mostly just this: Live further away.
In order to maintain a balanced budget, you should keep track of your income-to-expense ratio. As the name suggest, this measures your income versus cash outflow. It’s easy to figure out:
Total monthly income ÷ total monthly expenses x 100
If your ratio is less than one, it means you spend more than you bring in – that’s bad. This usually means you rely on credit cards, payday loans or other high-interest types of credit to get by. You slowly amass debt that seems insurmountable to pay back. If you’re in this situation, you either have to reduce your expenses or increase your income.
Ideally, you want your ratio to be 1.25 or greater. That means you spend 75% of what you make, leaving free cash flow in your budget and money to save. You can use free cash flow to cover unexpected expenses and set aside money to build your emergency savings fund.
One of the easiest ways to increase your income is to take on a secondary or side job. This can be anything from becoming a ride hailing driver to working freelance in your career field. Your goal with a side job – besides boosting cash flow – is to balance it with your life. You don’t want something that interferes with your primary paycheck. If you freelance, make sure to check your employment agreement to ensure you don’t violate any non-compete clause; the same is true with consulting work.
Here are a few ideas for good side hustle jobs:
Loss of income is common in a down economy. Even if you don’t lose your job, your employer may cut your hours or limit allowed overtime. If you work a job based on commission or one that relies on tips, it’s hard to keep income steady. When people don’t spend, and stop dining out, you can take a big hit.
Any loss in income should immediately lead to a reassessment if your budget. You need to cut back on your expenses as quickly as possible so you can avoid taking on debt. Another way to balance you budget is to consolidate existing debt. Many consolidation solutions decrease your monthly debt payments, sometimes by as much as 50 percent. That can go a long way to helping you overcome loss of income.
If you’re one of the estimated 106 million Americans who are “unbanked” or “underbanked” you’re probably losing money to fees. Checking cashing stores are not a smart substitute for a regular checking account. You lose money about $3-$10 out of every paycheck (or more depending on the size of your paychecks). You also often incur bill payment fees if you pay bills through money orders.
Some people assume this is more cost effective than traditional banking, because bank fees are just as bad. But if your bank fees are high, that means you have the wrong account. Look for a checking account that fits your lifestyle. If you’ve struggled with maintaining a checking account in the past, look for one that offers:
For that last feature, you may need to meet certain requirements in order for your bank to waive those fees. Some banks will waive fees on certain accounts if you are a student. In other cases, you can avoid fees if you sign up for online banking or set up Direct Deposit.
Research banks and other financial institutions carefully. If you don’t trust major national big banks, look for local banks or credit unions. These tend to be more focused on customer service, so you can worry less about your bank screwing over customers. Then, once you find a bank you like, understand how your checking account works and do what you need to do to minimize fees.
When used correctly, the right traditional checking account will always have lower fees than nontraditional banking through check cashing stores. If you pay too much to bank, the solution is not to stop banking. It’s to find a better bank with a checking account that fits your needs!
Earned income is what you get from your paychecks. You work, they pay you for that work. But there’s another kind of income that everyone should aim to achieve. It’s called unearned income.
The IRS defines unearned income as any money you receive from not doing actual work. It includes earned interest, dividends and yields on investments. It also includes things like gifts, prizes and inheritance. However, those are not sources of income that are in your control. What is in your control is the ability to put your money where it can work for you.
Unearned income is typically subject to different taxes. You don’t pay payroll taxes or Social Security on it. But you often face unearned income tax. When it comes to things like retirement accounts, you can pay taxes before you contribute or when you make withdrawals. It depends on which types of retirement accounts that you have.
The earlier you can start making your money work for you, the less you have to work. Even if you’re not ready to start investing, take small steps to achieve better growth. For example, check your savings account interest rate. If it’s less than 1 percent, look for a better savings accounts. You can also consider investments like Money Market Accounts and Certificates of Deposit (CDs). These tend to have better rates, too. By incrementally building your saving strategy, you can gradually increase unearned income.
This website is intended for informational purposes and as a reference tool to match consumers with companies that may be able to assist them. View our Advertising Disclosures here.