budget

Whether a formal budget is put together or not, everyone has a budget they live by in life. You can only spend as much money as you can access on an annual basis, whether that is directly through your paycheck or through loans and credit cards. Ideally, you are spending less than you make each year and not taking on too much debt. However, debt is inevitable and so is the need for a rainy-day fund, or emergency savings. One of the toughest financial decisions most people face is what to do with the money they have. Should you be paying down debts or saving for emergencies?

There's no greater joy for a parent than being able to send a child to college. Helping your children earn a higher degree sets them up for a more positive future, with greater chances of landing jobs and advancing in career fields.

The end of the year brings about the holiday season, when most people are in the mood for giving. Gifts for family, opening your home to friends and family for meals together; gift giving is on everyone's mind come the end of the year. Many nonprofits view the holidays as the "Giving Season." The National Center for Charitable Statistics found that as of 2012, 50.5% of organizations receive the majority of their contributions in the period extending from October to December.

When the holiday season rolls around, it is time to make plans with friends and family to  get together and celebrate. Part of that celebration entails spending some of your hard-earned money on meaningful gifts for those you love. However, for many people the holidays become a stressful period where paychecks are stretched to the max and the credit card sometimes accrues debt. Want to enjoy a holiday where you do not break the bank? Here are a few tips to help!

Shop with a Budget

Temperatures are not the only thing heating up this Summer. There are deals and perks available for all types of travel and leisure. A few of the Top 5 Cities to travel to on a budget may surprise you, but trust us there are deals to be found!

When children head off to college, they are leaving the nest for the first time. This is the first experience many will have with taking care of their own living needs, shopping for groceries and household goods, and also the first time many will encounter their own fiscal decisions. Once your child graduates from college, they are going to face numerous financial challenges. Helping them start a budget to keep track of their finances is the best tool you can give them. If you are unsure of where to start, here are some tips to help them setup a budget to follow.

There is no greater joy in the summer than taking a vacation. Travel solo or take the family with you; summer is the best time to bring everyone together on a whirlwind trip. However, taking a trip this summer vacation should not mean suffering financially for the rest of the year. Before you hit the road or fly the friendly skies, do your research so you can spend smarter, not just more, this year on your summer vacation.

 Be Flexible

It is vital that you consider your retirement needs long before you approach retirement years. Your number one priority must be to find ways to make your retirement funds last. Your retirement considerations should include three tasks:

Develop an income plan

You cannot spend your retirement money during your retirement years. You need to live off the earnings from that money. You must develop an income plan that allows you to live off 6% to 7% interest on your retirement savings, so you will not deplete it.