Buying your first home, starting a family or purchasing a car are major events that require a lot of financial planning. Unfortunately for millennials, a recent TD Bank survey found that two-thirds of older millennials (ages 24-34) wish they had been more financially prepared for these life events.
Whether you like it or not, the holiday season is already upon us. The ads are airing, the gifts are hitting store shelves and the mall decorations are already up! Thankfully, we are here to help with our second installment of the "Prep Now, Save Later" series.
There's nothing like the feeling of starting off a new year with a clean slate and hopeful outlook. Unfortunately, for many, October kicks off a string of major holidays that will ultimately lead them toward a wall of debt in 2015.
People fail at retirement planning for a variety of reasons, but one of them is that they get overwhelmed by the sheer size of the task. After all, when you calculate how much money it will cost to fund a comfortable retirement, reaching that goal can seem like scaling Everest.
When trying to make ourselves feel better about our financial situation, we often tell ourselves little lies that ease our minds about things. The problem is, if we tell ourselves these lies enough, we tend to start believing them.
Write down how much you typically spend in a given month. If you currently do not track all of your expenditures, write down how much you spent last month. Please include all expenses i.e. rent, tithing, gifts, food, charitable donations, etc.
In an ironic generational twist, the children of Baby Boomers are proving more inclined to turn to their grandparents for advice -- at least when it comes to learning about managing money and saving for the future.