1. How to Make Way for Life Insurance in Your Family Budget

    Dad calculating family budgetWhen creating a household budget, we all need to account for many kinds of expenses. According to the Economic Policy Institute (EPI), they include:

    • Housing
    • Food
    • Child care
    • Transportation
    • Health care
    • Taxes
    • Other necessities

    Another important item that should be on the list is life insurance. How to find the money to do so when creating a family budget?

  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?

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    Categories: Saving Money
  3. How to Start Building Financial Security for Your Growing Family

    Mother paying for groceriesThe joys of becoming a parent and moving from “me” to “us” and “we” can be an incredible moment for many people. Along with the joys of new parenthood comes a growing sense of responsibilities, some of them obvious. Your newborn needs constant care – the need to be fed and bathed and looked after at all times. Other responsibilities can be less obvious, such as the importance of financial and estate planning.

    As your family grows, financial security becomes more of a priority as you aim to make sure that your loved ones have money to meet basic needs, no matter what happens to you.

    Here are three ways to start building family financial security:

  4. 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.

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    Categories: Saving Money
  5. 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:

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    Categories: Saving Money