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Tag: Saving

The Right Way to Set a Budget and How to Crush it Every Month

I have said time and time again, the key to financial success is understanding how you spend your money and using that knowledge to make wise choices. The only way to accomplish this is through budgeting! Figuring out how much you spend on food, entertainment, medical expenses, and even shoes can help you plan for the month ahead. But how do you do this? Where do you start? Right here, right now! I'm going to show you the right way to set a budget and how to crush it every month!

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Why You Need to Stop Trying to “Keep Up”

Stop Trying to Keep UpIn today’s social media-driven society so many details of our personal lives are only a click away. Our primary form of communication or interactions with each other are through tweets, Instagram posts, and Facebook status updates. We are often just trying to "keep up" and find motivation from our number of followers and likes. Maybe without even noticing, we begin to put our lives on display as a status symbol. As a blogger, I understand this now more than ever. Showing off our red bottoms, newest designer bag, or our lavish evening out, has become the norm. To outdo our “frenemies,” we have begun to consume conspicuously, caring more about our standard of living concerning our peers than our well-being. At what point we stop trying to keep up and just start living for ourselves?

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5 Benefits to Having a Roth IRA That Will Make You Save Big

5 Reason you need a roth iraLet's be honest, no one likes to think about planning and saving for retirement. The thought of putting your hard earned money away to an account that you cannot touch until you are 65 isn't a desirable concept, but it's oh so very necessary! You have to find a financial balance within your retirement account for it to grow. A Roth IRA could be the best tool in your retirement portfolio and you may not even know it. Whether you are new to retirement saving or a seasoned veteran, a Roth IRA can be a welcomed addition to your portfolio. Along with your 401(K)  and traditional IRA, this account will allow for increased flexibility with your current retirement planning.

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How to Deal With An Empty Nest Egg When You Have Empty Nest

Empty nest eggTo new parents, “they grow up so fast” is a familiar saying that doesn’t seem to apply to them. However, seasoned parents can get hit hard with the reality of it when all of a sudden our teetering toddler is a high school senior walking away in his cap and gown. Empty nest syndrome moves in, and we struggle to adjust to that new life. It’s all the harder for those who find themselves looking at an empty nest egg to go with it.

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The Biggest Financial Mistakes I Made in My 20’s

Sherita Rankins Busy wife Busy life When I was in my 20's, I thought I had it all figured out. I was finally living on my own and making enough money to support myself, but little did I know I was also setting myself up for financial failure. My careless financial habits and frivolous daily purchases were going to snowball into a mound of debt that I wouldn't be able to get myself out of. They say hind sight is 20/20, but if I knew then what I know now, I would probably be living on easy street. Here are the biggest financial mistakes from my 20's that you should avoid at any age.

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How to Effectively Manage Money As a Couple

In relationships, discussions about money typically equal stress. But if you and your partner communicate openly about your finances, money talks don't have to be stressful. As I mentioned in Part One, How to Start the Money Talk, before you combine finances with your partner it is important to have a detailed discussion about your individual financial situations. Once you have a clear picture, it will be easier to set a plan for managing your expenses. The best way to deal with your money each month is to have a method in place that you both agree on. Here are a few suggestions for how to manage money as a couple.

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6 Financial Steps to Take in Your 30’s

June is my birthday month, and I try to celebrate it all month long. Birthdays always make me reflect on the past year, but they also encourage me to think about the year ahead. Like many people, I try to set goals for myself professionally, make resolutions for personal growth, and pin locations on the map that I want to travel to. During the month, I also try to look at my financial status. Because my birthday falls mid-year, it is the optimal time to access my progress thus far. I feel that when you get past your 20’s, each year brings you closer to those milestones in life, like buying that dream home, making career strides and ultimately – retirement. Your 30’s are a time when you can make some serious financial progress to set yourself up for a prosperous future. Here are my financial steps to take in your 30's.

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