What does it mean to “pay yourself first”?
Hi, I’m Saundra Davis, SaverLife’s financial coach. Let’s talk a little bit about the golden rule of saving: pay yourself first. So many people say, “I’m going to wait and save after I’ve paid all my bills and I’ll save what’s left,” but we all know what happens then. Very seldom is there anything left. So the idea of…
Read MoreHow can you balance saving with the asset limits on federal and state benefits?
“How can you help people who are going to get bumped off their subsidized food and housing because they have assets? Then the federal and state agencies say ‘Hey, all is well now.” They may be making more, but not enough yet to sustain themselves, landing them right back in poverty. I’ve seen this happen…
Read MoreHow to Make Good Financial Decisions
Hi, I’m Saundra Davis, financial coach here at SaverLife. Today we’re going to talk about how we make good financial decisions. There is no shortage of information online and, frankly, even from family and friends. How do we know that what worked for them will work for you? Check the source The question becomes: How do you know when the advice…
Read MoreReady to Start Investing? 6 Tips for Avoiding Scams
You’ve worked hard to get where you are financially, and investing might seem like the next step. But sometimes the financial landscape (and especially the internet) is like the Wild West. Let’s go through some tips to have in mind and common pitfalls to watch out for when you start investing. Know Your “Why” With…
Read MoreSaving for College
Graduation celebrations are all around us. I think this is a wonderful time to think about what college savings means in your life and for your family. Find your “why” As exciting as college can be, the financial burden is often high. So take some time now to think about your motivations. Are you…
Read MoreHow to Get the Best Rate on a Loan
If you need money for the short or long term, it’s important to remember that not all loans are created equal – and the price you pay for that money (in fees and interest) may vary dramatically. What do you need? Before shopping around for loans, you should know how much money you’re looking to…
Read MoreWhat’s your money style?
Hi, I’m Saundra Davis, SaverLife’s financial coach. Today we’re going to talk a little bit about our money personalities or our money style. Are you a spender, saver, or planner? Our approach to saving or spending really is rooted in the foundation of how we live with our money in our individual personality. Some of us are savers. Some of…
Read MoreMyRA savings accounts are being discontinued. What should I do?
“I enrolled and contributed to myRA (Roth IRA) since August 2016. The myRA.gov program is now being shut down. What should I do with my only Roth IRA/ Retirement investment?” Submitted by Brian H. Admittedly, my heart was broken when the announcement about shutting down myRA® retirement program hit the news. It wasn’t perfect, but…
Read More6 Steps for When Your Credit Is Denied
First, let’s start with the facts. There’s a widespread fallacy that a score determines whether or not you get credit. The truth is that lenders use a variety of factors to make credit decisions. These factors include your FICO scores, but also take into account your income, your employment history, and your credit history. This…
Read MoreMaking Your Money Work for You
Hi, I’m Saundra Davis, financial coach here at SaverLife. Today we’re going to talk about how you make your money work for you. What is a budget? If you ask, “Do you have a budget?” many folks will say no, they don’t have a budget. The fact is we all have a budget, whether we know it or…
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