Recently I read an article about recession fatigue. It’s a feeling of financial exhaustion that many Americans are dealing with right now. For over two years, we’ve been faced with a lot of economic uncertainty. The pandemic caused many workers to get laid off and record levels of inflation have strained our budgets. Now we may be heading toward another recession in 2023. It’s been
3 Smart Ways to Use Unexpected Money
My partner and I just got married in March. We decided to keep the event low-key and have a small ceremony in our backyard with close friends and family. Thanks to their generosity, we’ve received a couple thousand dollars in wedding gifts. Since we didn’t expect to receive this much money, we’ve been trying to figure out the best way to utilize it. If you’ve
Why I Don’t Have Life Insurance
Life insurance is an important but often overlooked aspect of personal finance. If you have people who rely on you financially, it’s important to make sure they’d be taken care of if you got injured or passed away. Although no one likes to think about getting sick or dying, it’s better to be prepared than to be caught off guard. That’s why my partner and
Financial Lessons I’ve Learned From COVID-19
I don’t know about you, but I’ve learned a lot of financial lessons over the past few months due to the currently financial state of the world. From having a diversified income to making sure you can pay a few months of your bills, there are a lot of things we need to take away from the current crisis. Have an Emergency Savings Account You
You Need an Emergency Fund, Here’s Why
According to reports, only 39% of Americans have an extra $1,000 kicking around to be able to pay for financial emergencies. So if you’re in the group of Americans who don’t have an emergency fund, you’re not alone. But you need to have one. Life is unpredictable and unfortunately, it runs off money. There’s no telling what tomorrow will bring so it is in your
5 Savings Accounts That Pay a Cash Bonus
Many people make it a goal to save more money each year. Some specifically want that savings to be in a separate account they won’t feel as tempted to touch (for example, an emergency fund or college fund for a child). Here are several savings accounts that pay a cash bonus, as well as keep your money out of sight and out of mind. 5
8 Simple Money Challenges That Will Beef Up Your Savings
One of the greatest ways you can boost your finances is to set a solid, measurable goal. That is especially true when it comes to saving money. Therefore, I’ve compiled this comprehensive list of simple money challenges that can propel you into greater financial freedom. 8 Simple Money Challenges That Will Beef Up Your Savings First, you need to know why you’re saving. Establishing that
How to Prepare for a Loss of Income – Sudden or Expected
Losing a job is ranked among the top 10 most stressful things a person can face, according to the Holmes and Rahe Stress scale. With that in mind, is it even possible to prepare for a loss of income in order to lessen the stress it’s sure to cause? Yes. Whether you face a sudden or expected loss of income, there are steps you can
Bare Bones Budgets: What They Are and Why You Need One
Unless you’re into extreme frugality, Mr. Money Mustache style, then you probably aren’t living on a bare bones budget and have no desire to. Still, it’s important to know what yours is. In the event of an illness, job loss, or other life altering event where you lose your income you should know how much money you’re going to need to survive. What is a
Is It Smart to Invest Your Emergency Fund?
Do you hate leaving a large amount of cash in a savings account earning nothing? Would you rather invest a portion of that money? Is that even a good idea? I came across an article the other day from a reputable site suggesting that you should invest a portion of your emergency fund so that it can do double duty – keep you safe and