If you’re approaching retirement, you’re probably focused on one big question: Do I have enough saved? But once retirement begins, a different challenge takes over. You need to learn how to effectively manage your money on a monthly basis without a paycheck coming in. With proper budgeting in retirement, you can reduce your chances of […]
Category: Money Management
How a Prenuptial or Postnuptial Agreement Can Make Your Marriage Stronger
Valentine’s Day reminds us to celebrate our relationships, and prenuptial and postnuptial agreements can be part of that. Many people assume these agreements are about mistrust or preparing for divorce. In reality, they enable couples to discuss and find solutions to financial issues before they become a problem and ruin a marriage. Going through the […]
How to Handle Your Finances When One of You Earns (or Owes) a Lot More Money
Dealing with money issues can be challenging for any couple, but it can be especially difficult when there is a sizable financial disparity between you and your partner or spouse. If one of you has significantly more income, assets, debt, or expenses, it can strain even the healthiest relationship if not addressed with care, honesty, […]
Is Lifestyle Creep Jeopardizing Your Finances?
Did you get a raise, but you’re not saving more money? Is your spending increasing along with your salary? If so, the reason may be lifestyle creep (or lifestyle inflation), a common scenario where your discretionary expenses go up as your income rises. It happens gradually, without you realizing how much more money you’re paying […]
Financial Literacy Essentials as You Age – Part II
As you age, improving your financial literacy is crucial so you have the knowledge and skills to effectively handle your finances and remain independent.
How to Build an Emergency Fund Before a Crisis Hits
Your home or car was damaged in a storm. Your spouse lost his job. Insurance didn’t cover some of your medical bills. Life is full of unexpected twists and turns. That’s where an emergency fund comes in. It serves as a financial cushion allowing you to pay for unforeseen expenses without resorting to getting cash […]
Is Your Spouse Guilty of Financial Infidelity?
According to a 2024 survey, 48 percent of individuals in relationships admitted to financial infidelity, including hiding credit card balances and expensive purchases. Concealing finances isn’t necessarily about trying to cheat the other spouse. Instead, it’s often the result of a spouse’s embarrassment over financial problems, issues with control, or different priorities. Whatever the underlying […]
How to Set Financial Goals for Next Year
With the year-end approaching, it’s a good time to take stock of your finances and plan for next year. If you want to improve your financial situation (and who doesn’t), the best way to begin is to set financial goals. Your goals are personal and should be meaningful to you, so you are motivated to […]
Can You Afford to Give Money to Your Adult Children?
It’s natural to want to help your kids even after they’ve become adults. These days it can feel like a necessity with the high cost of college, housing, and other expenses. According to a study by Savings.com, “47% of parents with grown children provide them with some form of financial support (not including adult children […]
What to Do If You’re Struggling to Pay Bills on a Six-Figure Income
Nearly half of Americans making $100,000 or more a year struggle to pay their bills. The same is true of 32 percent of individuals earning at least $150,000 a year. While it’s true that, six figures in New York doesn’t get that far compared to lower-cost regions, it still exceeds what many people make. Those […]
