Forget resolutions – it’s time for a financial New Year’s revolution!
It’s New Year’s resolution season! Even though many resolutions don’t make it until the end of winter, it can still be a helpful exercise for many people. Many years ago, I decided to begin each year with a financial revolution! Check out how Merriam Webster defines revolution: the action by a celestial body of going round…
Read MoreHow to Prepare for a Family Financially
Since we know that everything affects everything, let’s talk about how our financial lives are impacted by our families. Over 80% of SaverLife members live with at least one other person—be that a parent, child, partner, or roommate—and even if you are single, you may have heard that having a baby can really break the…
Read MoreKeep It in the Family: How to Pass on Money and Assets to Family Members
Creating a plan for how you will pass on money or other assets (anything you own) is called estate planning. Many people think that if they don’t have a lot of money or assets (like homes, cars, and jewelry), they don’t have an “estate.” But the fact is we all have an estate. How you…
Read More“Pay Yourself First” – Your Savings Mantra
Focus on You. Pay Yourself First. Have you ever thought, “I’ll pay all of my bills and save what’s left”? Well, how much was left? When we wait to save until the end of the month, we usually learn that we have more month than money and there is nothing left. We challenge you to…
Read MoreWhat is Lifestyle Inflation?
Have you noticed that even when your income increases, it can feel like you still don’t have more money leftover at the end of the month? That’s because often, when our income increases, our expenses do too. This is a very real phenomenon called lifestyle inflation. It can sneak up on us despite our best…
Read MoreI own a home, but I would like to move and rent out my home. What’s my best option?
I own a home that I bought only two years ago. In five years, I would like to relocate to Nevada. I’d like to rent out my existing home to have some net income, but I also would like to purchase another home in Nevada. I have no savings for a down payment for the…
Read MoreWhat to do when a land contract is paid in full? How do I add it to my credit report? I
Submitted by Renee K. This is a great question. Before your question, no one has ever asked me about land contract homes, so thank you for letting me get this info out! What’s a land contract? Real estate land contracts are direct agreements between a buyer and seller. The buyer purchases property directly from the…
Read MoreCan I transfer my HSA to another financial institution?
I have a HSA through my company. I don’t like their services and investing options. Can I transfer some of the funds I have to a new account at another financial institution? Submitted by Sudawan K. Take a moment and pat yourself on the back for planning ahead for your medical expenses. Not everyone does,…
Read MoreHow Can I Get Started with Low-Risk Investments?
How do I begin with low risk investments? For example CD’s, money market accounts, etc. Submitted by Deirel M. First of all, way to go! Investing is all about preparing for your future and the fact that you’re clear that you want low risk is an appropriate first step. Are You Ready to Start Investing?…
Read MoreCan I file taxes if my income was only SS and SSI?
Submitted by Veronica C. Living on only social security income tells me that you are resourceful and doing a good job managing your money. (SS is the benefit that you pay into during your working years and SSI is supplemental income designed to provide additional support for specific situations.) This question is tricky because I’m…
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