How 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 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 MoreWhat Does It Mean to Refinance a Mortgage?
Let’s start with the basics. Refinancing simply means that you’re replacing your existing loan with a new mortgage. Reasons for Refinancing a Mortgage If you’re considering refinancing, your reasons may include: A lower interest rate Shorter (or longer) term to pay off the loan or cash out equity Changing the type of mortgage (you may…
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 MoreThinking about Investing? Investment-Savvy Checklist
A lot of members tell us they’re interested in investing. Maybe you’re starting to save regularly, and you’re wondering how your money can work for you instead of sitting passively in a bank account. What Are Your Goals? Before jumping into investment strategies, start with this basic question: what is the point of investing to…
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 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 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…
Read More