1. Quiz: Test Your Personal Financial Literacy

    Financial literacy quizApril is National Financial Literacy Month. What better time to put your financial knowledge to the test? Or to learn more?

    Take our seven-question Personal Finance Literary Quiz below to test your understanding of some of the basics. Think you have what it takes to earn a perfect score? After tallying your points, you’re welcome to share your score with us and on social media.

    Comments are off for this post
    Categories: Quizzes
  2. Weighing Your Options: Renting vs. Buying a Home

    Couple holding keys from new homePerhaps the biggest financial decision we make in life is whether to buy or rent a home, be it a house, townhouse, condo, co-op or multi-family dwelling. It is not a decision to be taken lightly and it involves numerous factors, including for new or expecting parents who may need more space and are looking to provide stability for a growing family.

    Every family’s situation is unique. There isn’t a one-size-fits-all answer. When deciding between renting vs. buying a home, and the timing, start by asking yourself the following questions:

    • How long do I plan to live in this location?
    • What are my future plans, both short-term (within the next 5 years) and long-term (five or more years from now)?
    • Do I have enough money to buy a home or would I need to get mortgage financing, and do I have enough additional money to cover expected and unexpected expenses?

    Comments are off for this post
    Categories: Saving Money
  3. How to Develop a Household Budget for the New Year

    Man calculating expenses, creating budgetIf you’re like many people, you probably start off the New Year with the best of intentions and set resolutions for yourself. Perhaps you want to eat healthier foods or work out more often, or you want to get a handle on your household spending. If the latter describes you, you are not alone.

    According to Statistic Brain Research Institute, 34 percent of Americans who made a resolution in 2015 had one that was money-related. In fact, spending less and saving more was ranked as the third most popular resolution of 2015.

    A great way to take control of your expenses is to create a household budget. Developing a budget is easier than you might think. You don’t have to be a financial expert.

    Here are three simple ways to track your spending and gain control of your household budget.

    Comments are off for this post
    Categories: Saving Money
  4. Equipping Your Teenager with the Needed Financial Tools for Adulthood

    Mom paying bills with teenage sonTeaching teenagers how to manage their finances when they become adults is one of the most important lessons that a parent can impart.

    Here are four basic lessons on money-management for teens that parents should plan to teach their teenagers early on:

    Comments are off for this post
    Categories: Saving Money
  5. 5 Reasons to Have Life Insurance (and Why It Can Cost More Not to Have It)

    top 5 reasons for having life insuranceAccording to the 2015 Insurance Barometer Study by Life Happens and the life insurance association LIMRA, more than 40 percent of Americans don’t have life insurance. That equates to more than 128 million people without coverage.

    Reasons that people give for not having life insurance vary, from “life insurance is too expensive” to “I still have time, I don’t need life insurance yet” to “I don’t know how to get coverage.” However, its purpose remains the same: Life insurance can provide loved ones with financial protection when they need it most, just like automobile insurance, health insurance and home insurance.

    If you don’t have life insurance, here are five reasons for life insurance that you may have not yet fully considered:
    Reasons to have life insurance infographic