We were fortunate enough to connect with six financial experts who are big on helping people with their money. While they range in their professions â including certified financial planners,â¦
7 Ways Coupons Waste Your Money and Time
Here’s why I hung up my scissors and quit clipping coupons.
Northwestern Mutual Receives Seventh Consecutive Perfect Score on Human Rights Campaign’s Corporate Equality Index
Northwestern Mutual Receives Seventh Consecutive Perfect Score on Human Rights Campaign’s Corporate Equality Index MILWAUKEE, Jan. 28, 2021 /PRNewswire/ — Northwestern Mutual announced today the company earned a perfect score of 100 for the seventh consecutive year in the 2021 Corporate Equality Index (CEI) survey—a national benchmarking survey administered by the Human Rights Campaign Foundation—which reports […]
10 Financial Steps to Take Before Having Kids
According to the U.S. Department of Agriculture (USDA), raising a child to the age of 18 sets families back an average of $233,610, and thatâs for each child. This figure doesnât even include the cost of college, which is growing faster than inflation. CollegeBoard data found that for the 2019-2020 school year, the average in-state, […]
The post 10 Financial Steps to Take Before Having Kids appeared first on Good Financial Cents®.
Best Tips to Help You Find the Best Tax Filing Service
Best Tips to Help You Find the Best Tax Filing Service is a post originally published on: Everything Finance – Everything Finance – Its all about Money!
Filing your own taxes no longer has to be a pain thanks to modern technology and programs that use accurate and automated systems. If you have a low tax liability, you don’t want to spend hundreds just on filing. Here’s how to find the best tax filing services. When the deadline for tax returns comes around each year, youâll want to be well prepared to click send on your files and consider another tax year done and dusted. Tax filing services can be a big help in walking you through the process and making the whole affair a lot easier.
Best Tips to Help You Find the Best Tax Filing Service is a post originally published on: Everything Finance – Everything Finance – Its all about Money!
21 Easy Ways to Get Free Google Play Credits
This page may include affiliate links. Please see the disclosure page for more information. There are several ways to get free Google play credits if youâre interested in being able to get more apps for your Android Phone. If you find a lot of apps on Google Play that you like and want to get for free–or…
The post 21 Easy Ways to Get Free Google Play Credits appeared first on Debt Discipline.
21 Easy Ways to Get Free Google Play Credits was first posted on December 29, 2020 at 11:21 am.
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Best Cash Advance Loans for Bad Credit
Financial emergencies happen to the best of us, which is why itâs always a good idea to set aside an emergency fund. But if you donât have an emergency fund, itâs also possible to take…
The post Best Cash Advance Loans for Bad Credit appeared first on Crediful.
Can You Afford that New Car? Here's How to Decide
Are you in the market for a new or new-to-you car? If so, you’ve probably wondered “How much car can I afford?”
While your local car dealership might be happy to tell you the sky’s the limit regarding your car purchase, your personal budget might be telling you a different story. Spending more than you can afford on a car turns that car from a blessing into a burden.
How much should I spend on a car?
Deciding how much to spend on a car starts with knowing your current financial numbers. You'll need to know your current income, expenses, and savings amounts.
Know your numbers
There are several financial factors that can influence how much you should spend on a car. The amount of money you earn, of course, needs to be taken into account.
When determining how much you earn, always use your net take-home pay to start with. From there, factor in the other financial obligations you have.
In other words, look at your budget. If you don’t normally use one, now is a good time to start. Having a clear view of all other monthly financial obligations will help you better determine how much you can afford.
The 50-30-20 budget plan can be helpful. In short, the 50-30-20 budget plan works like this:
- 50 percent of your budget goes toward must-have and must-do obligations, such as housing expenses and child care
- 30 percent of your budget goes toward savings and debt obligations
- 20 percent of your budget covers unnecessary expenses and “fun” money
There are many ways to design a budget, but the 50-30-20 budget gives you a good place to start. It will certainly point out of there are any areas that are totally out of whack.
What do you have in savings?
Having a healthy savings account balance is important when making a car purchase as well. If you don’t have an emergency fund with a balance equal to three to six months’ worth of expenses, building that emergency fund up should be a priority.
If you don’t have an emergency fund with a balance equal to three to six months’ worth of expenses, building that emergency fund up should be a priority.
With an added car payment, having a plush savings balance will help you ensure you can cover the new payment even if you hit a financial bump. Or, for instance, if the car needs repairs.
Determine the total cost of the car
Once you have looked at your budget and determined the amount of money per month you are comfortable spending on a car you'll want to be clear on the total car costs before you make your purchase. Affording a new car isn’t simply about the payment.
There are several other costs associated with car ownership, such as:
- Insurance policy costs
- Fuel and parking costs
- Maintenance and repair costs
You can call your insurance company ahead of time and get a quote for the new vehicle you're considering. If you are still trying to narrow down what type of car you want, check out this list of the most and the least expensive cars to insure.
Call your insurance company ahead of time and get a quote for the new vehicle you're considering.
Fuel costs are fairly easy to determine. A Google search will give you the MPGs of any car you could think of. Compare that to your current car to see if your costs will change.
Maintenance and repair costs can be harder to determine but you can get an idea by using averages across a brand. Here's an article from Autowise that displays the cheapest and most expensive cars to maintain.
Be sure to factor in an accurate estimate of these additional car ownership costs as you determine a purchase price and payment amount you’re comfortable with.
Get the right kind of car loan
Doing your due diligence as you shop for a car loan is important as well. You do not have to get financing through the dealership. You will likely do better getting a loan yourself through your bank. At the very least, have an understanding of what rate you would qualify for before heading into the dealership so you know if they are offering you a fair rate.
Continue reading on Wallet Hacks.
How to Explain a Cash Deposit for a Mortgage
After months of searching, planning and saving, youâre finally ready to apply for a mortgage. You think you have all your ducks in a rowâyou have great credit and a killer history of making your loan payments on time. But thereâs one small hiccup. A lender noticed that youâve had a recent, slightly unusual cash… Read More
The post How to Explain a Cash Deposit for a Mortgage appeared first on Credit.com.
What is Permanent Life Insurance and How Much do you Need?
Permanent life insurance is defined as a whole-life policy, one that doesnât expire and may provide a number of benefits during the policyholderâs life and when they pass away. It’s not a specific type of insurance, as such, and is instead an umbrella term used to describe life insurance policies that are not fixed to specific terms. Types […]
What is Permanent Life Insurance and How Much do you Need? is a post from Pocket Your Dollars.