Why Your Small Business Needs a Savings Account and an Emergency Fund
Did you know 20% of businesses fail in their first year, according to the Small Business Administration? And running out of cash is the most common reason for startup failure, according to a CB Insights study. Saving money isn’t simply a nice or responsible thing for a small business. Saving money could make or break…
Read More7 Options For Your New Side Hustle
A side hustle is a great way to bring in extra cash, test drive a future career interest, or turn your passion into a business. If you’re ready to start a side hustle, check out these seven flexible side hustle options. 1) Transportation and delivery If you have a newer vehicle and can manage the…
Read MoreShould You Start a Side Hustle?
It seems like everyone has a side hustle these days. The opportunity to bring in extra income, have a business, and feel less dependent on a paycheck may have you wondering if a side hustle would be right for you too. But how do you know if it’s a good fit in your life right…
Read MoreWhat You Need to Do Now to Financially Prepare for 2022
Every decade, it seems like there’s a “fill in the blank” issue that has never happened before and will forever change our lives. I remember the market crash in the late 1980s, the dot-com bust in the 1990s, Y2K in 2000, the September 11, 2001 attack, the housing bust, and the great recession of 2008-2009.…
Read MoreShould I Open a Savings Account for My Kids?
Before opening a savings account, think about why you and your child are saving money. Here are some common reasons Pay for future education expenses Help your child manage the money they make from their job Give your child a lump sum of money when they graduate from high school Your reason for saving the…
Read MoreHow to Plan for the Cost of College with Your Kids
As a financial coach, I encourage parents to talk to their children about college as early as possible. Nowadays, college is one of the most expensive costs, next to a car or a home. Enrolling, paying, and attending college is also a complicated process. Leaving this in the hands of an 18-year-old is unfair. Your…
Read MoreWhat Women’s History Month Means to Me: SaverLife’s Coaches Reflect on Their Financial Journeys
This year’s Women’s History Month is special, coming only a few months after our country inaugurated our first female vice president. The strides we’ve made in the 100 years since the passing of the 19th Amendment granting women the right to vote have been incredible. 40% of business owners are women. There are 114% more…
Read MoreWhat Black History Month Means to Me: SaverLife’s Financial Coaches Reflect on Progress Made and the Work to Be Done
Black History Month is a time to reflect on how far we’ve come, as well as the road ahead to wealth equality. The percentage of black college graduates has doubled since 1990 from 11% to 25%. From 2007-2018, firms owned by black women have gone up a whopping 164%. But, although there’s been progress, there’s…
Read MoreWhat Are the Advantages of a Good Credit Score?
Equifax, one of the top three credit reporting bureaus, considers credit scores between 670-739 to be good credit scores. FICO is one of the most commonly used credit scoring companies. FICO uses information from credit bureaus like Equifax to calculate a three-digit credit score that represents your credit. The scores are calculated based on five…
Read MoreHow Do You Establish Credit?
Sign up for SaverLife to earn points and chances to win cash prizes when you read articles like this! Establishing credit is important. Using credit over time creates a credit history (hopefully of on-time payments) that businesses use to decide if they will give you credit. Without a credit history, companies may be hesitant to…
Read More