How to Create a Budget

How to Create a Budget

Sometimes it’s just hard to save money and keep track of your spending.  Sure, online banking helps you to see exactly what you have been spending money on, but it won’t stop you from spending money and it won’t tell you when you’ve gone past your self-imposed limit.

The best way to prevent overspending and to promote saving is to make a budget for yourself and your family and stick to it.  That way, you will have saved money for a rainy day and have built up some good habits when it comes to saving money. Continue reading

When Credit Scores Affect Your Apartment Hunt

Bad credit keeping you from renting an apartment?  The use of credit scores to screen apartment applicants has become more and more prevalent.  And the timing couldn’t be worse for people who have been hit hardest by the prolonged recession.

Many people have lost their homes and must now turn to apartment living, but have found that the process of losing their home has damaged their credit score.

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Where is Our Affordable Healthcare?

There is nothing that any American wants more than affordable and high quality health insurance.  But why is this so difficult to achieve?  After all, we are the developed country that does not have universal healthcare.

To simply answer this extremely complicated question, the American economic system is built differently and based on different principles than Europe.  While European countries pride themselves on taking care of their citizens, America values industry and competition which has given major insurance companies the opportunity to flourish, driving up the price of health insurance, much to the detriment of the average American citizen. Continue reading

Federal Reserve’s Personal Finance Test

As a follow-up to last week’s article, here is a quick test to measure your personal finance chops.  Are you on the same level as an investment banker or could you take a refresher course to brush up on your knowledge of the Federal Reserve and balancing your checkbook?

This test was created by the Federal Reserve to test the financial knowledge of seniors in high school.

1. Inflation can cause difficulty in many ways. Which group would have the greatest problem during periods of high inflation that last several years?
a.) Older, working couples saving for retirement.
b.) Older people living on fixed retirement income.
c.) Young couples with no children who both work.
d.) Young working couples with children. Continue reading