Will I receive a stimulus check?
Note: This article is about the first stimulus payments as part of the CARES Act from March 2020. Learn more about the second and third rounds of stimulus payments. How does the stimulus check work? The coronavirus stimulus check is an advance on a 2020 tax credit. This means if you do not get a…
Read MoreWhat’s the difference between money market, savings, and checking accounts?
Although these types of accounts are similar, they have important differences. What is a checking account? A checking account is designed for day-to-day use. There are many options when it comes to checking accounts. The most popular options are free and allow you to make as many withdrawals as you want. Sometimes the bank or…
Read MoreWhat is a Sinking Fund?
A sinking fund is a way for corporations to put aside money at specific intervals in order to pay a bond or a debt that will be due at a later date. You can use this same strategy to achieve your goals or pay for expenses that aren’t due on a monthly basis. By planning…
Read MoreTeaching Your Kids to Save Money
Think about the lessons you learned about money. How do the messages you heard in your early years impact the way you view and manage money today? Research shows that lifelong money habits are formed early. In fact, psychologists believe that by age 7 (I know, right?), kids have already developed long-lasting attitudes about money.…
Read MoreWhat is an Opportunity Cost?
Opportunity cost is an economics concept with huge implications in every aspect of our lives. To put it simply, when you say “yes” to one thing, you are saying “no” to another. Opportunity Cost in the Real World Let’s try an example. Say your goal is to build healthier habits by exercising every day. When…
Read MoreHow to Negotiate a Raise
I always like to say that there are only three things you can do to change your financial situation: make more, spend less, or a combination of the two. But making more money can be easier said than done. It could mean finding a new job, gaining additional skills, or working more hours. Let’s dive…
Read More“Sharing is Caring” – Does that Apply to Bank Accounts?
Ah, opening a joint bank account or credit card – so easy to do, yet so hard to untangle if things don’t go as planned. Once you open a joint account, the money that was “yours” is now “ours.” That’s a big step for any relationship. Make sure you’re on the same page about how…
Read MoreHow to Find the Right Products for You
Hi, I’m Saundra Davis, financial coach here at SaverLife. Today we’re going to talk about how to find the right financial products and services for your situation. It is wonderful that we have so many financial products and services to choose from, but it can also be overwhelming. It can be very difficult to make a decision. There are many things that…
Read MoreWhat is a financial health score?
Congrats on taking this step in your SaverLife journey! Your score is on a scale of 1 to 100. Here is how to read it: 0-39: You might feel like one financial emergency, like a blown tire or unexpected medical bill, would set you back for months. It’s hard to devote time and resources to…
Read MoreStarting, Funding, and Growing Your Small Business
Many people hope someday to work for themselves and build a business from the ground up. If that sounds like you, regardless of what stage you are in the process, focus on your finances to increase your chances of success. Check out the tips below for a good place to get started. Planning Your Small…
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